Online course: LOMA 307 – Business and Financial Concepts for Insurance Professionals candidați

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Detalii curs

LOMA 307 introduces industry employees to basic financial concepts and terminology and relates these concepts to the business of insurance and company operations and profitability.

All LOMA courses have been reviewed and updated as appropriate to reflect the DOL Fiduciary Rule.

This course counts as credit toward the following designation programs: ACS, ALMI, FLMI, PFSL.

The learners will be awarded with a personalized certificate upon the successful completion of the course and the related I*Star (Individually Scheduled Test and Results) exam within 6 months after the enrollment.

Language: English

The course is online can be accessed both from computer and mobile devices.


The course can only be completed once in the continuous professional training program.

Grup țintă

Employees of companies from the insurance and financial services industry.

  • Define economics and explain the primary sectors that make up local, national, and global economies, as well as the different types of financial institutions and the roles they play in the economy.
  • Describe the three types of insurance companies – stock, mutual, and fraternal benefit societies – and how their products can satisfy one or more of the four basic financial needs of customers.
  • Explain the steps in the control process and describe the important control mechanisms insurance companies use to measure, evaluate, and improve their operational performance, including risk management, profitability, and solvency.
  • Understand key financial concepts such as simple and compound interest, minimum reserve requirements, minimum capital standards, required and risk-free rates of return, risk premium, the rule of 72, and future and present value calculations.
  • Distinguish among insurance company expenses, including investment expenses, expenses for contractual benefits, operating expenses, controllable and noncontrollable expenses, direct and indirect expenses, and fixed and variable expenses.
  • Describe the important components of technical product design, such as the cost of benefits, operating expenses, adverse and favorable deviations, testing, and investment earnings.
  • Describe how insurers can use benchmarking, total quality management (TQM), Six Sigma, lean management, and business process reengineering (BPR) to improve operating efficiency, and how they use outsourcing, enhanced information technology, and remote work accommodations to reduce operating expenses.
  • Explain how changes in price levels due to inflation, deflation, or increasing / decreasing market interest rates can affect insurance or financial services institutions.
  • Recognize essential information contained in the income statement and the balance sheet, as well as the purpose of cash flow and owners’ equity statements and Annual Reports.
  • Describe the ratio-based systems used by regulators and rating agencies to monitor and evaluate insurance company solvency and profitability.
  • Describe the three primary elements of a financial model and explain how insurers can use modeling to forecast future financial conditions.

The participation fee may be subject to changes based on LOMA policy.

Investiția necesară pentru a participa la acest curs include

  • accesul pentru o perioada de 6 luni la platforma de elearning si sustinerea unui test de evaluare
Preț cu TVA
1250.00 RON
Fara TVA