Life Office Management Association

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LOMA (formerly the Life Office Management Association) is one of the largest trade associations in the insurance industry.[1][2]

It offers an employee training and development program used by the majority of American life insurance companies,[3] and by life insurance companies in over 70 countries worldwide. The president and CEO is Robert A Kerzner.[4][5][6]

LOMA administers a series of designation programs. The Fellow, Life Management Institute (FLMI) designation program, awards the FLMI designation to individuals who pass a series of 10 examinations; these insurance-focused examinations cover insurance, accounting, marketing, information systems, finance, law, management, and computers.[7] Financial brokers also use the LOMA educational courses to count towards the continuing education (CE) requirement needed to maintain their license in good standing with regulators.[8]

LOMA's board of directors is made up of insurance industry chief executive officers, presidents and vice-presidents, lawyers and other industry professionals.[9][10]

History[edit]

The National Life Office Management Association "in the early nineteen thirties was one of the first management societies or trade associations to assign an increasingly prominent role to some kind of selective records preservation in the programs of their annual meetings and in the work projects of their research groups." [11]

LOMA developed a series of merit rating scales for clerical employees based on traits and behavioral elements, published in 1950.[12]

References[edit]

  1. ^ Ray, G. et al. (2004). "Capabilities, business processes, and competitive advantage: choosing the dependent variable in empirical tests of the resource‐based view.". Strategic management journal 25 (1): 23–37. Retrieved 21 December 2013. 
  2. ^ Gavin, James F. (August 1973). "Self-esteem as moderator of the relationship between expectancies and job performance". Journal of Applied Psychology (American Psychological Association) 58 (1): 83–88. doi:10.1037/h0035416. Retrieved 21 December 2013. 
  3. ^ Fan, Chiang Ku; Cheng, Chen-Liang (September 2006). "A study to identify the training needs of life insurance sales representatives in Taiwan using the Delphi approach". International Journal of Training and Development (Blackwell Publishing Ltd) 10 (3): 212–226. doi:10.1111/j.1468-2419.2006.00255.x. Retrieved 21 December 2013. 
  4. ^ "About LOMA". LL Global, Inc. Retrieved 21 December 2012. 
  5. ^ "Robert A Kerzner, President and CEO/LIMRA, LOMA, LL Global". Business News Americas. Retrieved 10 January 2013. 
  6. ^ "Evolution of Life Insurance Industry to Accelerate, Says LOMA Survey". PR Newswire Association LLC. Retrieved 10 January 2013. 
  7. ^ "Business Definition for: Life Office Management Association (LOMA)". Barron's Educational Series, Inc. and AllBusiness.com, Inc. Retrieved 21 December 2012. 
  8. ^ "Independent Financial Brokers, Educational Opportunities for Financial Services Professionals". Independent Financial Brokers. Retrieved 26 December 2012. 
  9. ^ "APPOINTMENT: Les Herr". Canadian Life and Health Insurance Association Inc. Retrieved 26 December 2012. 
  10. ^ "LL Global adds board members". LifeHealthPro. A Summit Business Media publication. Retrieved 26 December 2012. 
  11. ^ LEAHY, EMMETT J. (July 1949). "Modern Records Management". American Archivist (Society of American Archivists) 12 (3): 231–242. Retrieved 21 December 2013. 
  12. ^ Ferguson, Leonard W. (June 1950). "The L.O.M.A. Merit Rating Scales". Personnel Psychology (Wiley) 3 (2): 193–216. doi:10.1111/j.1744-6570.1950.tb01696.x. Retrieved 21 December 2013.