LIMRA and LOMA Look to Give Financial Services Companies an Industry Advantage

ATLANTA, Georgia, Jan. 4 -- LIMRA issued the following news release on Jan. 3, 2024:

LIMRA and LOMA today 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% 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/

* * *

About LIMRA

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.

* * *

About LOMA

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.

* * *

Original text here: https://www.limra.com/en/newsroom/news-releases/2024/limra-and-loma-look-to-give-financial-services-companies-an-industry-advantage/