LOMA 320 covers marketing principles and the functions of marketing as an integral aspect of the life and health insurance industry.
Course Objectives
Describe the division of insurance regulatory powers between the federal and state or provincial governments in the United States and Canada, particularly with respect to how each handles licensing of producers, prohibited sales practices, and oversight of sales promotion and advertising.
Identify the functions of a marketing information system and how companies use internal databases, marketing intelligence, and marketing research to provide marketing information.
Explain the classifications of consumer products and the concepts of product class, product line, product form, product item, and product mix, as well as the environmental, personal, organizational, social, and psychological factors that influence customer behavior.
Understand the factors a company considers when selecting a distribution channel and the primary characteristics of the various distribution systems, including ordinary agency, multiple-line agency, personal producing general agency, home service, worksite marketing, location selling, brokerage, and salaried sales.
Describe the methods producers use to identify, contact, and qualify prospects and explain how they generate proposals, make sales presentations, answer objections, and close sales.
Describe four types of fraudulent, misleading, or unethical sales activities in which insurance producers are prohibited from engaging and specific regulatory oversight – from entities such as FINRA, the SEC, and NAIC – aimed at preventing these practices.
Remarks
We only offer LOMA311 in English and Traditional Chinese
Student must complete this course within 6 months after enrollment.
Estimated study hours： 30 hours
Relevant LOMA professional qualifications
This course shall form part of the following professional qualifications:
