For many organizations, a landmark anniversary involves little more than looking backward at past accomplishments. After 100 years of pioneering research and education for the financial services industry, LIMRA’s focus is on moving forward by incorporating past achievements into future innovations.
From the beginning, LIMRA was charged with helping its members tackle business challenges of the day, as well as those on the horizon. By taking this approach, LIMRA’s research and development programs continue to evolve as different times often require new approaches.
For example, LIMRA published the Aptitude Index in 1938 to help companies determine who might succeed in financial sales by having candidates answer 121 questions in the index. Today, there’s an app for that. LIMRA has developed Recruit2Go®, a mobile application in which potential candidates answer 15 questions on a smart phone to see if a sales career in financial services is right for them. The app provides immediate feedback for the candidate and recruiter.
LIMRA has a well-earned reputation for its benchmarking surveys. The Monthly Sales Survey introduced in 1922 was the first collaborative industry survey of life insurance sales in the U.S. and Canada. Today, LIMRA conducts quarterly surveys for life insurance, annuities, disability insurance and many other financial products. LIMRA’s new Life and Annuity COMPASS programs will offer its members access life insurance and annuity data ranging from a full market analysis down to details at the policy level, all custom to the information they need most.
The Public Looks at Life Insurance, published in 1958, was LIMRA’s first major consumer research study. Today, LIMRA conducts annual consumer studies on life insurance, retirement planning, workplace benefits and many other financial topics. More than just surveys, LIMRA incorporates behavioral economics and other innovative approaches to learn even more about consumer motivations.
While techniques and technology may change, LIMRA remains dedicated to providing inventive approaches so members can solve their most pressing challenges.