ATLANTA, May 11, 2015—LOMA recently announced the awarding of the Fellow, Life Management Institute® (FLMI) designation to its 100,000th recipient, accentuating the positive impact the FLMI insurance education program has had on industry employees and organizations worldwide.
“Achieving this milestone is a proud moment for LOMA,” said Katherine C. Milligan, FLMI, ACS, senior vice president of LOMA’s Education and Training Division. “But I credit the financial services companies that invest in their employees’ knowledge and professional development and the FLMI designees around the world who—through their studies— have demonstrated a commitment to their profession and the industry.”
The FLMI program is the world’s largest university-level education program in insurance and financial services. Established in 1932, the FLMI program teaches advanced insurance and financial concepts to build a deeper understanding of the insurance business. To earn the FLMI, candidates complete 10 rigorous courses that provide an industry-specific business education in the context of the insurance and financial services industry.
The FLMI program is guided by executives and subject experts at LOMA member organizations serving as advisors and reviewers. According to LOMA Education & Training Council Chair Chris McKee, FLMI, senior vice president of Infrastructure Services at CNO Financial Group, Inc., “Our industry can be very proud of the high standard we have established with LOMA education. Through the collaborative efforts of volunteers from member companies working with LOMA, we have produced a program that, throughout the years, has proved to be both academically challenging and job-relevant. The result is an engaged and educated work force with a ‘big picture’ understanding of our business that improves job performance.”
FLMI designation holders work in a variety of insurance functional areas, including claims, compliance, customer service, finance, HR, information technology, marketing, operations, sales and underwriting. Milligan noted that FLMI courses are offered in nine languages and the designation has achieved global recognition, “Financial industry professionals around the world recognize FLMI as a mark of professional excellence.”
In the most recent LOMA survey of senior executives who hold the FLMI designation:
95% said it improved their business acumen
94% said that they would pursue the FLMI designation if they were beginning a career in the life insurance industry
92% felt the FLMI gave them a strong foundation on which to build their understanding of the insurance industry and is relevant to today’s industry employees
90% acknowledged that the knowledge gained gave them greater confidence to do their job
About LOMA: Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its worldwide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA’s Web site at www.loma.org.