LIMRA

Generalities

LIMRA stands for Life Insurance Marketing and Research Association. The LIMRA Career Profile System has been developed and distributed by LIMRA International, Windsor, CT, USA., since 1937. It is used for assessing the potential for success in selling insurance and related financial products.

When the tool was devised in the 1930s, it represented a major leap in using psychometrics for recruiting insurance agents. Since its first “Aptitude Index” version, the assessment has undergone successive adaptations, from a paper/pencil format to a platform with assessments, metrics, and reports, which have all been adapted as well.

The LIMRA system is represented on all continents. It is available in the most spoken languages.

Assessment

The initial assessment used to include 158 to 183 questions, depending on the basic or advanced version being used, which include propositions on various aspects rated by participants on five-point scales that are related to demographics, sales skills, and personality. The questionnaire is forced-choice. Its administration time is 45 minutes or more. A report is produced, giving information on:

• Sales performance indicators
• Personality characteristics
• Sales Behaviors' typical style
• Coaching and developing style
• Recruiting and selection guide
• Recruiting recommendations

The personality dimensions are regrouped in three categories: Dynamic, Analytic, and Interpersonal, which are further broken down into a total of 14 personality characteristics. They are presented below with their GRI correspondence.

• Dynamic: Use energy and drive to make sales
• Analytic: Uses logic and facts to make sales
• Interpersonal: Uses personal relationships to make sales

Dynamic

Dimension	Description	GRI a priori
Leadership	Ability to take charge, motivate, and lead.	High 1, high 2
Persuasive	Ability to influence, negotiate, and debate	High 2
Achievement	Set goals, then strive to achieve or surpass them	High 1
Energy	Fast-paced, active, likes to multitask	Low 3
Self-confidence	Self-assured, optimistic, cannot be intimidated	High 1, low 4

Analytic

Dimension	Description	GRI a priori
Analytical	Gathers facts, is logical, and can identify patterns or connections in complex issues.	Low 2
Adaptable	Adjusts quickly to change, handles uncertainty, embraces new ways of doing things.	Low 4
Attention to details	Careful, thorough, accurate, organized	High 3, high 4
Persistence	Overcomes barriers, perseveres in the face of obstacles or challenges, never gives up	High 1, low 4

Interpersonal

Dimension	Description	GRI a priori
Social	Approachable, friendly, easy to communicate with, quickly builds rapport, creates a network of acquaintances	Low 1, high 2, low 3, low 4
Cooperative	Collaborates, assists, supports, builds morale, resolves conflicts	Low 1, high 3
Concern	Sensitive, understanding, helpful, compassionate	Low 1, high 2
Stress tolerance	Calm, accepts criticism, recovers quickly from disappointments	High 3, low 4
Emotional Awareness	Perceptive, aware of own emotions and how they affect others	High 2

Sales behavior typical styles are provided according to nine categories noted on a three-point scale: Low, Moderate, and High. The categories are the following: Planning, prospecting, needs analysis, presentations, closing, handling objections, follow-up service, cross-selling, and compliance. The coaching recommendations are provided on building strength, development areas, what the person needs from their manager, what may upset the person, and management/coaching advice for the manager.

The results are to be used with a report and as input for selection, interview, reference checks, orientation, and management. LIMRA recommends confirming, understanding, and exploring the results with the candidates during the interview.

Usage

The LIMRA system is used for sales performance assessment, coaching, recruiting, selection, and interviewing applications.

Comments

Number of Facets and Parsimony

The sales abilities and personality are measured distinctly, although the latter informs the understanding and development of the former, with the restrictions highlighted below.

For the personality or social behavior dimension being measured, as shown in the above table by comparing with the GRI factors, the LIMRA 14 facets lack parsimony and overlap significantly, although regrouping into three categories helps clarify the picture. The understanding of one facet by the report’s reader, influenced by other facets, may then mislead its use.

Intensity

The decile scales used by LIMRA for measuring personality poorly capture the intensity of each of the 14 facets and thus affect the comparisons and relationships among them. The measures cannot account for the energy it takes to express other behaviors more frequently and effortlessly over time.

Adaptation The LIMRA system doesn’t consider the behaviors people feel they need to act out in order to adapt to their environment. Consequently, the measurement combines natural and adapted behaviors into a single metric. With LIMRA, a person’s natural self is influenced by their perceived adaptation, which actually only reflects how they see themselves at the moment they answered the survey.

The measures cannot provide indications of the efforts required to adapt their behaviors. How people adapt and are engaged is crucial information that links the individual to their environment and job demands, and these are not accounted for by the LIMRA system. Work Relatedness and Team’s Growth

Sales in insurance and related financial services may have similar behavior characteristics that can be broadly categorized into three types: dynamic, analytic, and interpersonal. However, the system doesn’t have a refined job behavior assessment specific to a company, which can also be compared with other jobs’ demand and people, including management. The adaptation efforts to the job can only be approximated. The measures from LIMRA cannot assist in the analysis of a team and a company’s dynamics, growth, and performance.

General validity People generally agree with the information from reports and feedback sessions. Like looking in a mirror, this isn't surprising because the survey responses reflect what people know about themselves. However, looking at the reports and comparing the narratives from the adaptive profile will reveal that some information isn’t captured by the LIMRA system, such as the adaptation to the environment that could assist the person’s growth, their management, and connection with their company’s needs.

Representation Model The 14 facets or traits being measured are represented in the three categories, with a bar graph. Because of the limitations highlighted above, the reading may mislead judgment and decision-making for the usage being mentioned.