Broker World

LIMRA and LOMA officially launched Industry Advantage, an enterprise-wide program that gives employees unlimited access to a deep and broad library of bite-sized content with topics focused on life insurance, annuities, and workplace benefits.

“LIMRA research shows more than a third of life insurers’ employees have been hired since the pandemic. These individuals may not have the foundational industry knowledge that would help them perform their job responsibilities most effectively,” said Carie Crane, vice president and head of professional development, LIMRA and LOMA. “We developed this curriculum to help our members onboard their new employees and keep their existing employees up to date on emerging industry trends, like artificial intelligence, underwriting advances, and elder financial exploitation.”

Industry Advantage is a cost-effective annual program that offers companies microlearning content compatible with companies’ learning management systems. This content provides relevant insights for new-to-the-industry staff as well as those seeking career advancement and deeper knowledge.

Industry Advantage leverages a microlearning approach, which research has shown has many benefits to the organization and the learner:

• Increased learner engagement. Providing learning opportunities that are available at the time of need means the learner has access to education and training that can be immediately relevant and useful. These employees are then more likely to feel invested in learning this content.
• Higher productivity. A Society for Human Resource Management study indicates that companies using microlearning saw a 130 percent increase in employee productivity, compared to companies not taking this approach. The targeted content conveyed through microlearning is more likely to be retained and immediately applied—which logically would increase productivity and efficiency.
• Narrower skills gap. The financial services industry is changing rapidly, driven by technological advancements and evolving consumer expectations. This just-in-time learning approach can help employers address skill shortages and remain adaptable to help employees gain the knowledge they need.

“LOMA has been the go-to resource for industry-specific professional development for nearly 100 years,” said Crane. “In an increasingly competitive environment, companies must arm their employees with the knowledge needed to succeed in their current jobs and provide the opportunity to develop industry expertise to allow them to advance in their careers. Industry Advantage helps companies develop a well-informed team of professionals that can propel the performance of the organization to achieve their strategic business goals.”

To learn more about Industry Advantage, visit: https://www.loma.org/en/professional-development/talent-mobility-suite/industry-advantage/.

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

Established in 1924, LOMA helps to advance the financial services industry by empowering more than 700 financial services companies to navigate change with confidence. Visit LOMA at www.loma.org.

LIMRA’s Applied Research Solutions will offer consultative research design and delivery to clients looking for fresh insights and approaches to company- or industry-specific challenges. Leveraging the association’s broader industry benchmarking and topical research program, the Applied Research Solutions team will focus on helping clients develop a deeper understanding of issues impacting their business. Focusing primarily on informing product, marketing, and distribution strategies, the new expanded team will build upon LIMRA’s existing expertise to provide clients with data and insights they can apply to a wider range of business decisions.

“In a market where companies are facing significantly greater regulatory and economic challenges, and profitable growth is increasingly elusive, business decisions are riskier than ever before. LIMRA is uniquely positioned to offer our clients the benefits of an experienced research team and a deep, expert understanding of the industry landscape. This combination enables us to provide superior value to our members over general research suppliers and consultancies,” said Sean O’Donnell, senior vice president, and head of membership. “By expanding our custom research capabilities, we can help our members get more value from the association by applying this expertise to an issue of interest to either a consortium of members or an individual client’s specific situation.”

Along with O’Donnell and the existing custom research team, LIMRA has named two executives to support the Applied Research Solutions business:

• Lai-Sahn Hackett will lead the Applied Research Solutions research team. In this capacity, she will be responsible for consulting with clients to design creative and valid research approaches that will uncover actionable insights into changing market dynamics and help clients maximize opportunities to meet their business goals. Hackett has more than a decade of experience leading market research, product development, and process improvement engagements for large employers and service providers in the insurance industry.
• Michelle Lorenz will lead the Applied Research Solutions sales and consulting team. With more than 20 years of experience developing and selling custom research solutions for clients across a variety of industries, Lorenz recently joined LIMRA after being vice president, client solutions at SAGO. She will be responsible for building valued customer solutions and insights, with a focus on the overall client experience, for LIMRA members who engage the Applied Research Solutions team.

The insurance industry is currently experiencing an unparalleled period of transformation. The application of new technologies—along with a shifting distribution landscape and evolving consumer expectations—is impacting the industry in new and significant ways. For more than a century LIMRA has been delivering unique benchmarks and research to help its members navigate industry change. Applied Research Solutions enables the association to take that idea further and provide a more focused, tailored application of research expertise to address these emerging needs.

“As our members have increasingly transitioned to a data-driven approach in their business practices, the demand for credible insights and analysis has never been greater,” said O’Donnell. “We believe that our research expertise and unparalleled knowledge of the industry enables us to provide our members with unique value as they strive to meet new and rapidly changing expectations and needs.”
For more information, visit LIMRA’s Applied Research Solutions at www.limra.com/en/solutions-and-services/applied-research-solutions/.

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

The Inter-Company Marketing Group (ICMG), the non-profit association that fosters business networking among insurance and financial services companies, has named Allen Bress, president of AIM Marketing & Insurance Services, Inc., of Scottsdale, AZ, as the recipient of the 2024 Don Kampe Lifetime Achievement Award.

The Don Kampe Lifetime Achievement Award is the highest honor awarded by the ICMG. This award was established in 2001 to recognize ICMG members who have made significant, ongoing contributions of time and resources for the benefit of the organization. The award was named in honor of Don Kampe, who served on ICMG’s first board of directors, was president for two terms, and continued to be active in board and committee work for 24 years.

Mr. Bress’s entry into the insurance industry in 1968 marked the beginning of an innovative and impactful insurance career. He has founded three reputable companies, showcasing a deep commitment to providing invaluable insurance benefits to the public. Since joining ICMG in 1993, Mr. Bress has been a consistent and enthusiastic advocate for the organization, energetically encouraging others to participate as well.

Beyond ICMG, throughout Mr. Bress’s 50-plus years in the insurance business, he has been active in many other conferences and organizations. He has served on multiple boards, including the Mass Market Insurance Institute, PIMA, Voluntary Benefits Association, and the NAILBA Charitable Foundation. His induction into the Workplace Marketing Association’s Hall of Fame and a founding role in the California Association of Health Underwriters speak to his influential presence and visionary contributions.

This year’s Don Kampe Lifetime Achievement Award was presented by ICMG’s Executive Director, Larry Sigle, who said about Mr. Bress, “It’s evident that his unwavering dedication, visionary leadership, and profound industry impact make him a deserving recipient.”

The ICMG’s 2024 Annual Conference was held February 5 to 7, 2024, in Miami, FL. This was a milestone year for this exceptional conference, as attendees celebrated the 40th anniversary of the event. More information about the organization and its 2024 conference can be found at ICMG’s website, www.icmg.org.

The Inter-Company Marketing Group (www.icmg.org) is the premier non-profit association that fosters strategic alliances among insurance and financial services companies, providing targeted networking opportunities, sharing of knowledge, experience, and resources for successful inter-company alliances. Among ICMG’s members are marketing and business development decision-makers with insurance carriers, reinsurers, distributors, third-party administrators, and other related companies in the insurance business. Find ICMG on LinkedIn or visit www.icmg.org to learn more.

For more information, contact Larry Sigle, executive director, ICMG, 316-252-3368, [email protected], or Chuck Hirsch, president, Hirsch Communications Consulting, 314-630-1387, [email protected].

Finseca’s CEO Marc Cadin issued the following statement after California’s Governor Gavin Newsom signed into law SB 263, California’s version of the NAIC Best Interest Standard:

“We’re truly grateful for Senator Dodd, the California Department of Insurance (CDI), and the NAIC for their efforts to bolster consumer protections while maintaining access to holistic financial advice. We are witnessing the impact that a strong coalition fighting for financial security for all can have, and I’d be remiss if I didn’t emphasize the importance of the joint work that we’ve done under the leadership of ACLHIC, specifically with the help of the teams at the ACLI, IRI, NAIFA, NAFA and our own team at Finseca. California lawmakers took a strong stand today with the objective data we’ve seen from Ernst and Young–holistic financial advice provides better outcomes for consumers, and we should be finding ways to continue to expand on this. Our movement is gaining steam, and we won’t rest until we’ve achieved financial security for all.”

The National Association of Insurance Commissioners (NAIC) developed a best interest for annuity standard that served as the baseline that Senator Dodd and CDI expanded upon to create what CA SB 263 is today. The passage of this legislation and its being signed into law demonstrates the strength and importance of the state-based regulation of insurance that has been in place for decades.