What Does LIMRA Stand For Insurance?

The Life Insurance Marketing and Research Association was the original name of LIMRA.

What is LIMRA stand for?

LIMRA is celebrating its 95th anniversary today, and the nearly century of research and knowledge it has supplied to its members around the world.

Many people have wondered, “What is a LIMRA?” or “What does LIMRA stand for?” among a sea of acronyms in the life and health insurance sector.

LIMRA’s employees presented the following tale of the organization’s progress over the years in honor of its recent birthday. The rest of the story is now complete.

  • A group of life insurance executives convened in Chicago in 1916 and decided to form an organization dedicated to the industry’s training and development. The Association of Life Agency Officers was the name given to the group (ALAO). The group represented 81 life insurance businesses the next year. The ALAO released its first book and training program, Special Army Course in Life Insurance and Insurance Salesmanship, An Outline for Teachers’ Use, in collaboration with the US government to assist returning veterans “move into profitable jobs.”
  • The ALAO’s Education Committee issued a report in 1921 outlining plans to establish what would later become the Life Insurance Sales Research Bureau (LISRB).
  • This group would be in charge of conducting trustworthy, independent research for insurers.
  • A budget of $7,000 was funded by thirteen charter member companies.
  • The initial statistical and selection reports were published and provided to members that year.
  • In 1945, at a combined conference in Chicago, the ALAO and the LISRB voted to unite the two organizations into the Life Insurance Agency Management Association (LIAMA), which would be based in Hartford, Connecticut.
  • When the merger took effect on January 1, 1946, LIAMA had 160 members.
  • LIAMA changed its name to Life Insurance Marketing and Research Association (LIMRA) in 1971, indicating its dedication to research all life insurance distribution systems. During this time, the organization’s membership rose to 304 companies in the United States, 60 in Canada, and 176 overseas members in 39 countries, with a diverse range of research and training programs.
  • In an ongoing effort to highlight the importance of its international members, the Life Insurance Marketing and Research Association (LIMRA) updated its emblem and name to LIMRA International a little over a decade later (1982).
  • LIMRA International replaces “Life Insurance Marketing and Research Association” as the organization’s official name in 1994.
  • While maintaining its comprehensive domestic marketing and sales research, the firm continues to achieve excellent foreign growth.
  • LIMRA International and LOMA unite to form LL Global in 2008, combining the assets of LOMA’s back office expertise and training programs with LIMRA’s vast marketing and sales experience. This provides a comprehensive organization to enable the combined membership of over 1200 members compete and develop market share.
  • LIMRA International deleted the “International” from its name in 2010, and became just LIMRA.

LIMRA now provides its members with a wide range of research and services, including benchmarking, industry performance, consumer and strategic research, as well as cutting-edge training and development programs for producers, managers, and executives. It has also made a name for itself by conducting extensive retirement research and providing related services to enable its members take advantage of this fast-growing industry. LIMRA is a thought leader in the financial services industry when it comes to using social media for marketing, compliance, and training, and it continues to broaden its knowledge and awareness of markets around the world.

What is LIMRA and Loma?

LIMRA, LOMA, and our parent company, LL Global, Inc., are the world’s biggest association of life insurance and financial services firms, with over 1,200 members in 64 countries, including the majority of the world’s leading life insurance companies.

Who owns LIMRA?

LIMRA, LOMA, and the Secure Retirement Institute (SRI) are all part of LL Global, Inc. In 71 countries throughout the world, LL Global represents more than 1,100 members, including the majority of the world’s top life insurance companies. They work together to provide members with research and education that is substantive, timely, and relevant.

LOMA is dedicated to forming business relationships with over 900 insurance and financial services sector members throughout the world. Through quality staff development, research, information sharing, and associated products and services, they hope to improve company management and operations.

To increase retirement readiness and promote retirement security, the Secure Retirement Institute delivers comprehensive, independent research and education on all elements of the retirement business.

What is Limra LDEx?

LIMRA has developed the first set of data sharing standards for the employee benefits market, focusing on post-enrollment data, in collaboration with insurance companies and benefits administration technology providers.

The LIMRA Data Exchange (LDEx) Standards are intended to standardize data sent between insurance carriers and benefits administration technology providers for employee workplace benefits with the goal of reducing errors, increasing uniformity, and streamlining the process.

What does LOMA insurance stand for?

A Letter of Map Amendment (LOMA) is an official change to an active National Flood Insurance Program (NFIP) map that is made by letter. The location of a property in relation to the Special Flood Hazard Area is determined by a LOMA (SFHA). LOMAs are typically given when a property is mistakenly mapped as being in a floodplain when it is actually on natural high ground above the base flood elevation.

A LOMA is a public record that the community must maintain because it officially amends the effective NFIP map. Any LOMA should be recorded on the community’s master flood map and filed in an easily accessible location by panel number.

What is loma280?

Overview. The concepts of insurance, the procedure of becoming insured, and the policyowner’s contractual rights are all covered in LOMA 280. Individual and group life insurance, health insurance, and annuity products are covered in detail in this course.

What does Iqa stand for?

Internal Quality Assurance (IQA) allows you to keep track of assessors’ actions within an organization and ensure that all evaluations are completed equitably. Your work will contribute to the organization’s improvement of assessment standards and best practices.