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How to do FLMI-LOMA insurance certification in India

Discussion in 'Programs for working professionals' started by Royaluni, May 8, 2013.

  1. Royaluni

    Royaluni Administrator

    How to do FLMI-LOMA insurance certification in India
    FLMI or Fellow, Life management institute is a insurance certification issued my LOMA, Canada. FLMI primarily deals with insurance concept and principles practiced in USA and Canada. But it is really helpful to understand insurance concepts which are used all over the world.

    FLMI or popularly known as LOMA exams are conducted by LOMA ORG and either you can nominate yourself or your company can nominate you.

    It is extremely popular in Information Technology (IT) sector.

    It helps programmers in understanding the business of insurance and concept behind their practices.

    LOMA exam is conducted on a quarterly basis which means that you have to nominate yourself for a particular exam for a specific quarter like April- June, 2013.

    FLMI is further divided into three stages;
    LOMA level 1
    ALMI
    FLMI

    Loma level 1 include two papers;
    LOMA 280 --Principles of Insurance
    LOMA 290 --Insurance Company Operations
    It also have LOMA 281 and LOMA 291, but you only need to clear two papers in order to clear LOMA level 1.

    ALMI
    LOMA 301 -- Insurance Administration
    LOMA 307 -- Business and Financial Concepts for Insurance Professionals
    LOMA 320 -- Insurance Marketing

    FLMI
    LOMA 311 Business Law for Financial Services Professionals or 316
    LOMA 335 Operational Excellences in Financial Services
    LOMA 356 Investment Principles and Institutional Investing
    LOMA 361 Accounting and Financial Reporting in Life Insurance Companies
    LOMA 371 Risk Management and Product Design for Insurance Companies
    FLMI is a very good certification for those who are seeking job in IT industry or looking to learn insurance business practices.
    If you have any concern or question, just leave your comment.

    If you are looking for information on CBAP, you can click here.
     
    Last edited: Aug 24, 2017
  2. Rahul Mohod

    Rahul Mohod New Member

    HI, i am working in a Insurance MNC in India from last 6 years, want to enroll in LOMA level 1 exam, can you plz thorw some light over the registration process and approx fee for level 1 for a NonIT person likeme.
     
  3. Royaluni

    Royaluni Administrator


    First you need to check with your company because loma offer discounts when you appear via your company. If you want to register directly, you can do that. You need to visit https://www.lomanet.org and register. Upon registration, you will get option to register for individual exams.
    There are total 10 exams you need to clear for FLMI.

    For loma level 1, loma 280 and 290 are required. They both deal basic american and canadian insurance sector. You have to pick a date within same quarter at the time of registration. Also, you need to select a exam center. Site will provide you option for exam center.

    Hope that helps.
     
  4. Rahul Mohod

    Rahul Mohod New Member

    Thanks a lot Royaluni....that was vrry useful info, will check with my firm about the sane, but can you please throw some light on fee structure if i opt for loma first level as a individual without my firm.
     
  5. Royaluni

    Royaluni Administrator

    well registration happens at individual exam level, so first you will have to pass loma 280, then you can go for loma 290. Anyway, its better to first clear a exam and then try for another instead of risking money. fee is around $100-150 but not sure, i did that long back. but if you register on their site, you can see that.
     
  6. Rahul Mohod

    Rahul Mohod New Member

    Okie....thanks a lot again for your advice.....and today got another news which came as a surprise which i was not at all expecting...my company has a tie-up with LOMA...so can also get rebate for exam :)
     
  7. Royaluni

    Royaluni Administrator

    If you are looking to learn business analysis or scrum agile, you might check out this course- click here
     

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