A group of financial services and life insurance companies is called LIMRA International, Inc. The Life Insurance Marketing and Research Association is referred to as LIMRA.
About LIMRA:
LIMRA provides its members with a vast array of resources and research, having begun as an association dedicated to the education and training of life insurance professionals. Study up on LIMRA right now.
LIMRA provides market, consumer, economic, financial, labor, and human resources research to life insurance firms and financial service providers. With more than 1,200 members in more than 70 countries worldwide, LIMRA was formerly known as the Life Insurance Marketing and Research Association. For the benefit of its members, LIMRA offers research, assessment, consultation, training and development, and other services and benefits.
How Does LIMRA Help Brokers?
LIMRA strives to unite the financial services sector. The company’s mission is to link individuals in the insurance and financial services sectors with data, solutions, thought leadership, and much more.
LIMRA strives to empower insurance agents and brokers by providing them with resources and information. With the help of LIMRA’s wealth of resources, which include expertise, contacts, insights, and solutions, LIMRA hopes to help these insurance brokers and agents flourish. Because of its extensive AML Training, LIMRA also plays a critical role in the prevention of money laundering.
LIMRA provides information to the insurance sector about customer attitudes, employee and employer views, product development and pricing, and consumer behavior. Furthermore, LIMRA provides brokers and agents with access to data on objective standards and efficient sales procedures. Industry experts can also join LIMRA’s many study groups to network and get additional knowledge. These research groups examine distribution, issues, underwriting, technology, legislation, and product development and trends.
LIMRA Certification:
LIMRA certifications usually have a 12-month validity period, and an annual refresher course must be taken. By offering refresher courses that include the most recent material from that year, LIMRA continuously updates its certificates, programs, and courses. You must finish your refresher course and ongoing education once every two years in order to become certified as a LIMRA AML.
LIMRA Training Program:
The Anti-Money Laundering (AML) Training program from LIMRA is available to assist financial institutions in meeting the criteria for anti-money laundering tracking and training while also thwarting attempts at money laundering. Companies benefit from LIMRA AML Training since it offers a quick and affordable method of accessing and adhering to the regulations and guidelines set out by the US Treasury Department.
Employees and producers of securities and insurance are trained under this industry-wide curriculum. The curriculum models its instruction around actual business scenarios. Additionally, the program offers reporting options to assist businesses in monitoring program participants’ starts, stops, and completions. Every year, LIMRA provides refresher training to professionals so they may keep current and continue to identify and prevent money laundering. Courses are available on any device and are offered in both Spanish and English.
For businesses, the cost of the LIMRA AML training program is based on volume. This implies that the cost incurred by each participant varies based on the total amount of resources made available by the insurance company that mandates the training. However, if your firm is a member of LIMRA, the majority of them will let you enroll in the course for free. Even if you do not work for a firm that is a member of LIMRA, you can still enroll in the AML training base course for free as an individual through LIMRA. Before starting a career in insurance or finance, this is a handy and reasonably priced method to learn a little bit more about the rules and regulations governing the life insurance sector.
Features Of LIMRA:
Research:
Life insurance, customers, laws, distribution, retirement, annuities, workplace benefits, individual consumer products, and technology are just a few of the areas in which LIMRA carries out research worldwide. LIMRA provides more than 100 briefs and reports to help businesses with product creation and marketing. While accessing this data, users can also keep tabs on their place in the market. It is also possible for LIMRA members to take part in the association’s research projects. It might occasionally be expensive or challenging to perform or participate in innovative research, but LIMRA can offer accessible funding. LIMRA’s Center of Excellence for Analytics is one of the association’s research branches; it investigates statistical methods and connects analytics experts in the life insurance sector. A group of data modelers at LIMRA look for reasons and ask the correct questions to generate results through their constantly evolving modeling.
Services and solutions:
LIMRA provides a range of services and solutions based on their research and understanding of the consumer. To assist its members in attracting greater talent, thwarting account takeover invasions, meeting compliance requirements, screening and interacting with applicants, and enhancing sales power, they have developed innovative tools and initiatives.
Special Advantage For Members:
Members have access to information and inquiry services through LIMRA’s InfoCenters. The InfoCenters have a vast library of resources about the insurance and financial services sectors. The InfoCenter employees at LIMRA can assist with information requests and research as well.
Business trends:
LIMRA’s tools give its members access to news and data on industry trends so they may make decisions that will help them succeed. You can also remain current on current events with LIMRA’s news, which covers topics such as LIMRA Data Exchange Standards and blockchain resources. Resources about the coronavirus pandemic, financial wellness, helping to protect our families, industry news2use, and member connection are among LIMRA’s trending topics right now. Financial wellness helps customers by attending to their potential and requirements. The goal of the Help Protect Our Families campaign is to close gaps in life insurance coverage nationwide so that Americans can achieve financial security.
Events:
Conferences, webinars, workshops with other industry members, and live and virtual events are all provided by LIMRA. Attendees can develop their careers and discover new things at these events. To find out more about industry subjects and study summaries, there are webinars featuring professionals in the field that are both live and recorded. Members can take part in peer committees and network with other industry experts.
Special News Release:
A variety of tools are available in LIMRA’s Newsroom, such as an Industry Trends section, a Fact Tank, and ongoing news releases. LIMRA members have access to a variety of publications in addition to the association’s periodicals, Industry news2use, and Member Connection. Additionally, LIMRA publishes MarketFacts: Your Source for Industry Insights. News releases from LIMRA inform its members about company developments, industry themes, and the most recent research. LIMRA Unplugged provides videos fusing science and everyday life. These videos explain and talk about opportunities and problems in marketing.
Members of LIMRA rely on the organization for cost savings, industry updates, information services, networking and development opportunities, and access to and participation in research. Services that are unavailable to non-members are made available to members at a significantly reduced cost. Among the services provided are publications, consortium and customer research fees, professional development programs, assessment tools, publications, and conference registration fees. Insurance and financial service organizations can learn from LIMRA how to leverage the knowledge they have access to through tools and programs to grow their operations and develop and make sensible judgments and solutions. Some of the benefit classes that LIMRA offers its members are as follows.
