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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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Improving the Bottom Line: Insurance Company Operations (LOMA 291)


Version 1 and 2: Varies-independent study. 

Independent study and proficiency examination program administered from the central offices of LOMA.

Version 1: April 2009 - October 2017. Version 2: November 2017 - Present.

Instructional delivery format: 
Proficiency exam
Learner Outcomes: 

Version 1 and 2: Upon successful completion of the course, students will be able to: distinguish among the various stakeholder groups connected with a financial services company; recognize typical functional areas for insurance operations and classify units as line or staff units; define risk and return and explain the risk-return tradeoff; distinguish among product distribution systems and channels; explain how insurers assess the risks presented by a proposed insured and classify those risks; identify the purpose of customer service and describe some typical customer service transactions for individual life and annuity products; describe the participants and the steps in the claim process; explain how insurers use market segmentation and target marketing to identify the customers who are most likely to buy their products; compare and contrast the legal and compliance functions and describe the roles and responsibilities of each area; explain the responsibilities of the various operating functions involved in financial management; summarize the financial reporting requirements imposed by insurance and securities regulators.


Version 1 and 2: Major topics include: stakeholders; corporate structure; enterprise risk management; product distribution; new business and underwriting; customer service; claims; developing, introducing, and evaluating new products; marketing; accounting and financial reporting; investment operations; treasury operations; audit; profitability, and capital regulators.

Credit recommendation: 

Version 1: In the lower division baccalaureate/associate degree category, 3 semester hours in Business, Finance, Insurance or as a General elective (10/12). Version 2: In the upper division baccalaureate degree category, 3 semester hours in Business, Finance, Insurance, or as a General elective (11/17 revalidation) (5/23 revalidation).