ATLANTA, Jan. 15 /PRNewswire/ -- The life insurance industry should experience flat to modest overall sales increases in 2008, according to the Industry Forecast conducted by LOMA's Resource magazine. Resource recently invited insurance industry leaders to share their thoughts about what awaits the industry in the new year, and what companies can do to best prepare for the tasks that lie ahead. Here is a summary of the results:

*Overall sales and profits will likely remain flat or increase very modestly. Universal life products and variable annuities look very promising.

*The most critical regulatory and legislative issues in the new year include the optional federal charter, stranger-originated life insurance (STOLI), and suitability legislation.

*The technologies with the greatest potential to help the industry include wireless technologies, voice signatures, electronic forms and signatures, and developments in workflow and imaging. Many of the participants also emphasized the role of technology in enhancing customer service.

*Some of the smartest ways for the industry to go about increasing its profitability in 2008 include increased penetration of underserved markets, reduced expenses, more rational and more disciplined pricing, workflow redesign, and improved self-service options.

The complete forecast may be read on the Resource section of the LOMA web site, http://www.loma.org/Resource.asp

About LOMA

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 http://www.loma.org/

-----------------------------------------------------------------------------------------

Source: LOMA

Copyright © 2008 PR Newswire Association LLC. All rights reserved.

Presented by InsuranceHeadlines.com