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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

LOMA | Evaluated Learning Experience

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Insurance Marketing (LOMA 320)

Formerly Life and Insurance Marketing [FLMI 320]; Marketing Life and Health Insurance [FLMI 320]; Marketing Life and Health Insurance [Course 4]; also known as Marketing Life and Health Insurance [Part 9-MK]
Course Category: 
FLMI (Fellow, Life Management Institute) Insurance Education Program with Active Credit Recommendations
Length: 

Varies-independent study.

Location: 
Independent study and proficiency examination program administered from the central offices of LOMA.
Dates: 
Version 2: January 1989 - October 2000.* Version 3: November 2000 - December 2004. Version 4: January 2006 - Present.
Instructional delivery format: 
Proficiency exam
Learner Outcomes: 

Version 2: Upon successful completion of the course, students will be able to: define and explain basic marketing concepts and principles and apply marketing concepts and principles to the life and health insurance industry. Version 3: Upon successful completion of the course, students will be able to: discuss how strategic marketing principles and practices are applied in the life and health insurance industry; explain methods used by insurers to strengthen and improve customer relationships; explain how life and health insurance products are developed, priced, and distributed; explain how insurance companies use advertising and other product promotion; describe the regulatory environment surrounding life and health insurance; discuss the role that ethics plays in insurance marketing; and explain the challenges facing insurers in marketing products in a global marketplace. Version 4: Upon successful completion of the course, students will be able to: describe the environment in which life and health insurers conduct their marketing activities; discuss how strategic marketing principles and practices are applied in the life and health insurance industry; explain methods used by insurers to strengthen and improve customer relationships; explain how insurers gather and manage marketing information; explain how life and health insurance products are developed, priced, and distributed; explain how insurance companies advertise and promote their products; describe the regulatory environment surrounding life and health insurance; explain the marketing challenges facing insurers operating in a global marketplace; discuss the role that ethics plays in insurance marketing; and explain the marketing challenges facing insurers operating in a global marketplace.

Instruction: 

Version 2: Major topics include: marketing's role in society and business: planning; research; market segmentation; consumer behavior; products; distribution channels; pricing; promotion. Marketing functions in life and health insurance: product development; market research; distribution; group and special markets. Version 3: Topics include: the marketing environment; marketing planning; information management and marketing research; consumer behavior; market segmentation; relationship marketing; product development; pricing; distribution systems; personal selling, advertising, sales promotion, and publicity; regulatory influences; international marketing. Version 4: This course covers marketing principles and the functions of marketing as an integral aspect of the life and health insurance industry. Topics include: regulatory and other environmental influences on insurance marketing; international marketing of insurance; planning marketing goals; organizing, implementing, and controlling marketing activities; market segmentation and target marketing; marketing research and marketing information systems; product development and pricing; customer behavior and customer relationship marketing; distribution channels and strategies; insurance producer licensing and compensation; advertising, promotion, and selling.

Credit recommendation: 

Version 2 and 3: In the lower division baccalaureate/associate degree category OR in the upper division baccalaureate degree category, 3 semester hours as an elective in Business Administration or Insurance (3/84) (5/90 revalidation) (12/95 revalidation) (1/01 revalidation). Version 4: In the upper division baccalaureate degree category, 3 semester hours in Financial Planning, Insurance, Business, or Marketing curriculum or certificate programs (7/06 revalidation) (10/12 revalidation) (11/17 revalidation). *NOTE: An earlier version of this course, dating from December 1981 to December 1988, has been recommended for credit. Please contact NCCRS for copies of the course exhibits. NOTE: This course and Financial Services Marketing (LOMA 326) overlap in content. Credit is recommended for the completion of only one course.

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