Associate, Life Management Institute (ALMI)
LOMA 320 (Insurance Marketing)
Program Objectives:
Insurance Company Operations describes how life insurance companies operate in today’s global environment: how they are organized, how they are managed, and the roles of functional and support units in developing, distributing, issuing, and administering life insurance and annuity products.
Target Group:
People working in the insurance industry or new aspirants who want to join the industry.
Program Content:
• An Introductions to Marketing
- What is Marketing?
- The Marketing Environment
- Marketing Challenges
• How Companies Mange Marketing
- Marketing Planning
- Planning Tools
- Strategic Marketing Planning
- Tactical Marketing Planning
- The Marketing Plan
- Organization Marketing Operations
- Putting Marketing Strategies in Action
- Controlling Marketing Activities
- Reported Systems
• Market Segmentation and Target Marketing
- Market Segmentation
- Target Marketing
• Marketing Information and Research
- Marketing Information Systems
- Reporting Marketing Information
- Marketing Research Projects
- Using External Vendors for Research
- Limitations of Marketing Research
• Customer Behavior and Customer Relationship Marketing
- Types of Purchase Decisions
- Problem-Solving Strategies
- Factors that Influence Customer Behavior
- Purchase Decision Process
- Customer Relationship Marketing
• Basic Product Concepts
- Classification of Products
- Product Mix
- Product Life Cycle
- Packaging
- Branding
- Product Differentiation
- Positioning
- Product Development
• Pricing Insurance Products: A Marketing Perspective
- Pricing Objectives
- Primary Factors Affecting Pricing Decisions
- Pricing Strategies
- Rate Structures
- Price Review
- Product Line and Portfolio Pricing Considerations
• Distribution Systems and Strategies
- Personal Selling Distribution Systems
- Third-Party Distribution Systems
- Direct Response Distribution Systems
- Distribution Systems Strategies
- Managing Distribution Channels
• Marketing Communications: Engaging the Customer
- Coordinating Promotion Efforts
- Promotion Tools
- Developing a Promotion Strategy
- Creating an Effective Promotion Mix
- Creating the Promotion Budget
• Promotion Tools
- Personal Selling
- Sales Promotion
- Advertising
- Publicity
• Regulation of Life and Health Insurance Marketing
- Regulation of Insurance Marketing in the United States
- United States Regulation of Other Insurance- Related Activities
- Insurance Self-Regulation
Program Duration:
30 Training Hours