- Call LIMRA to discuss your company's needs.
- The company requesting a MarketScan (the sponsoring company) supplies the survey questions — the first draft of the survey questionnaire. In the hands of the appropriate individual within the responding company, the survey should take no more than 15 to 30 minutes to complete.
- LIMRA advises on content and handles revisions.
- The sponsoring company suggests the specific companies to be surveyed. LIMRA advises on the list of companies and suggests "major players" in the areas to be surveyed.
- The sponsoring company agrees to complete the survey questionnaire.
- In general, MarketScan projects include up to 20 questions and up to 20 companies.
- Participating companies provide information on an anonymous basis in most cases.
- Each participating company receives a copy of the final report, along with a list of participants.
- MarketScan results may be summarized in an appropriate LIMRA publication, such as LIMRA's MarketFacts and quarterly newsletters.
- MarketScan results are published on LIMRA.com 60 days after they are completed.
- MarketScan projects are usually completed within six to eight weeks after the survey questionnaire is sent to the participants. Most projects are completed even faster.
MarketScan fees vary depending on the scope of the project. There is a minimum charge of $5,000 for this service. The final cost is a function of the time spent by LIMRA in administering the project as well as the length and complexity of questions asked. In general, the fees for MarketScans is as follows:
- Up to 10 questions ranges from $5,000 to $7,500
- 11 to 20 questions ranges from $7,500 to $10,000
An additional 10% service fee is added if involvement by LIMRA’s legal department is necessitated by any sponsored initiated contractual
Note: MarketScan requests are subject to staff availability.