WINDSOR, Conn., Sept. 29, 2010 — Senior executives from LIMRA and LOMA and the Insurance Association of the Caribbean (IAC) signed an agreement earlier this month to develop and provide education and developmental training for insurance professionals in the Caribbean.
Bolivar Arosemena, LIMRA and LOMA corporate vice president for Latin America/Caribbean Region and Douglas Camacho, president of the IAC signed the agreement on Sept. 3 at the Hyatt Hotel in Port of Spain, Trinidad during a board meeting of the Caribbean Insurance Conference, which is co-hosted by the three organizations.
“LIMRA research has proven that there is a direct correlation between producers’ productivity and their knowledge and understanding of the industry’s best practices,” said Arosemena. “We are pleased to work with the IAC to identify the areas where we can create an effective training program to enhance the skills of insurance professionals help grow and develop this region.”
LIMRA and LOMA will conduct an initial research survey with the IAC to analyze the current competencies within the region and determine the training and development needs for the organizations’ collective member companies and their field forces. The program will be offered through traditional training and development classes, e-learning courses, seminars and workshops.
“The IAC, in its quest to assist its membership to fully develop its human capital, sought to partner with organizations that could help fulfill such a mandate,” said Camacho. “After much deliberation, we chose LIMRA and LOMA, international partners which are unquestioned leaders in the field.”
In addition to the training program, the organizations will conduct joint research studies annually to promote growth in the Caribbean market. They will also collaborate on development courses for managers, executives, as well as immersion courses over the next three years.
LIMRA is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA at www.limra.com.
Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA’s Web site at www.loma.org.
About Insurance Association of the Caribbean
The Insurance Association of the Caribbean (IAC) Inc. is a non-profit organization dedicated to the promotion and growth of the Caribbean Insurance Industry. Its membership is diverse with a large contingent of registered affiliates located throughout the Caribbean, Canada, Europe and the United States that specialize in every field of insurance. Visit IAC at www.iac-caribbean.com.