COURSE OBJECTIVES

In this course, you will learn to:

• Describe the basic characteristics of insurance company operations, including stakeholders’ needs, the value chain, and the operating environment.
• Describe primary management functions and how management seeks to successfully align company operations through control systems.
• Describe how to use leadership, motivation, and group dynamics to create a culture of operational excellence.
• Describe the characteristics of business processes and how to improve business processes through mapping and other techniques.
• Explain the characteristics of projects and project management processes.
• Identify the principles of quality management and quality management strategies.
• Present basic types of decisions and the decision-making process.
• Describe analysis and modeling for decision making.
• Describe how data is used in decision making.
• Describe types of innovation and the process for innovative thinking.

COURSE FORMAT

Course portals include the following elements:

• All the assigned study materials needed for the course
• Interactive practice questions and sample exams
• Recommended study plans to help you set goals and manage your study schedule
• Additional media and features to help in the study and review process

EXAM FORMAT

Study materials for this course are delivered via the online course portal, which also includes enrollment in one of the exam options for the course:

• Timed, self-proctored end-of-module exams available through the course portal. Learners complete a short online exam at the end of each course module. The total number of questions across all end-of-module exams is 60.
• Proctored end-of-course I*STAR exam. The time limit for the proctored exam is 2 hours and the exam includes 60 questions. Proctored examinations are available as computerized/I*STAR exams at a LOMA member organization.
• The course content is the same regardless of the testing option chosen.

STUDY MATERIALS

Operational Excellence for Insurance Professionals (LOMA, 2019)

ISBN: 978-1-57974-467-0

• LOMA’s e-books include text-based content with interactive and multi-media features. Practice and review questions, videos, and other interactive features are integrated in the e-book content. This creates a more dynamic, engaging way to learn important topics.
• The content downloaded to the e-reader will be available indefinitely. Features that are accessible only through the course portal (sample exam, end-of-module exams, etc.) will no longer be available after the 6-month enrollment period.

TOPICS:

• The Insurance Company and Its Challenges
• Aligning Operations with Corporate Strategies
• Creating a Culture of Excellence
• Business Process Excellence in Financial Services
• Project Management in Financial Services
• Quality Management
• The Decision Environment
• Analytical Decision Making
• Innovation in Decision Making
• The Decision Making Process