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Building a Knowledgeable Workforce: The Impact of Insurance Immersion

How one LOMA member company uses Insurance Immersion to optimize new employees’ performance.

Introduction

This mid-size mutual life insurance company is a virtual-first organization with over 1,000 employees — onboarding 100-150 new employees each year. New employees are often hired for their strong functional expertise yet bring various levels of industry knowledge and expertise to their roles. This company incorporated LOMA’s Insurance Immersion program to optimize new employees’ performance and impact based on an understanding of the business in which the company operates.

“The questions and activities helped me better understand and retain the material. Loved all the presenters, thank you for putting this together!” (October 2024)

Opportunity for a Foundation of Learning

This company recognizes the critical importance of equipping new and high-potential employees with industry-specific knowledge to help them grasp foundational concepts. As the company continues to onboard new talent, the Insurance Immersion program has become a cornerstone of their professional development strategy. By participating in these sessions, employees not only gain essential insights into the insurance industry, but also build a strong foundation for their future growth and success within the company. This proactive approach ensures that the workforce remains knowledgeable, skilled, and ready to meet the evolving demands of the industry.

Identifying and Selecting Program Participants

The company’s Learning & Development (L&D) team plays a crucial role in identifying and recruiting participants for each Insurance Immersion session. They have established a systematic process to pinpoint suitable candidates and secure their registrations. The L&D team targets potential participants who meet specific criteria, including:

  • New employees with 2 years or less of service
  • Employees new to the life insurance industry
  • Employees who have not earned the FLMI Level 1 Certificate in Insurance Fundamentals
  • Employees with strong motivation to attend — either by their own initiative or through leader recommendation
“I used to help run virtual training in a previous job, so I know how difficult it can be to get audience participation. I think this was a great balance of lecture and opportunities to participate and engage with the materials” (March 2023)

Recruitment for the Insurance Immersion program is highly effective due to the collaboration between the L&D team and business unit leaders. The L&D team identifies potential participants and informs leaders about the opportunity. Leaders then discuss the program with their team members to confirm interest and availability. Once participation is confirmed, the L&D team provides detailed information and materials to the employees. This collaborative approach ensures efficient recruitment of the most suitable employees.

Insurance Immersion Program in Action

Since the fall of 2022, this member company has implemented five Insurance Immersion sessions, generally offering two sessions each year. To add value for its participating employees, the company offers the program over a three-week period and incorporates subject matter experts (SMEs) into its Insurance Immersion sessions. Over the course of two years, the company has had nearly 150 employees participate in the program, with an average of 28 participants per session.

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employees have participated in the program

 

average participants per session

Results and Observations

“The technology used was great. I really liked how we were kept engaged by answering questions in the chat and adding our marks in areas on the presentation. I also thought it was useful having company SMEs present at the end of a few sessions to provide company-specific information. I thought that all the instructors were great; they were energetic when giving their presentations.” (October 2023)

  1. FLMI Level 1 Certificate in Insurance Fundamentals

Insurance Immersion participants earn this valuable credential after attending all seven sessions, motivating full engagement in the program.

  1. Service and Operations

Employees in these areas are the primary beneficiaries of this program, as they work directly with clients and financial professionals, answering product questions and providing essential support. Insurance Immersion equips them with the knowledge they need to excel in their roles.

  1. Effective Virtual Format

The program's virtual setup aligns with employees' existing work habits, and the cohort model fosters community and shared learning.

  1. Incorporation of SMEs

Including SMEs requires minimal effort but adds significant value, providing real-world context and professional development opportunities for the SMEs.

“Very informative and the trainings were very easy to follow!” (April 2024)

Conclusion

This mid-size mutual life insurance company has effectively leveraged LOMA’s Insurance Immersion program to enhance the onboarding process for new employees. By providing industry-specific knowledge and incorporating subject matter experts, the program has become a cornerstone of the company's professional development strategy. This approach ensures that new hires are well-equipped to meet the demands of their roles, fostering a knowledgeable and skilled workforce ready to drive the company's success.

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