Insurance Policy Processing Clerks

Description

Process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.

Tasks

Interview clients and take their calls to provide customer service and obtain information on claims.
Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
Process and record new insurance policies and claims.
Correspond with insured or agent to obtain information or inform them account status or changes.
Organize and work with detailed office or warehouse records, maintaining files for each policyholder, including policies that are to be reinstated or cancelled.
Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
Collect initial premiums and issue receipts.
Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
Transcribe data to worksheets and enter data into computer for use in preparing documents and adjusting accounts.
Notify insurance agent and accounting department of policy cancellation.
Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
Compose business correspondence for supervisors, managers and professionals.
Compare information from application to criteria for policy reinstatement and approve reinstatement when criteria are met.
Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
Check computations of interest accrued, premiums due, and settlement surrender on loan values.

Knowledge

Clerical: Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Customer and Personal Service: Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
English Language: Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Computers and Electronics: Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Administration and Management: Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Sales and Marketing: Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Skills

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Service Orientation: Actively looking for ways to help people.

Abilities

Near Vision: The ability to see details at close range (within a few feet of the observer).
Oral Comprehension: The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression: The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension: The ability to read and understand information and ideas presented in writing.
Speech Recognition: The ability to identify and understand the speech of another person.
Written Expression: The ability to communicate information and ideas in writing so others will understand.
Number Facility: The ability to add, subtract, multiply, or divide quickly and correctly.

Work Activities

Organizing, Planning, and Prioritizing Work: Developing specific goals and plans to prioritize, organize, and accomplish your work.
Interacting With Computers: Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with Persons Outside Organization: Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Getting Information: Observing, receiving, and otherwise obtaining information from all relevant sources.
Updating and Using Relevant Knowledge: Keeping up-to-date technically and applying new knowledge to your job.
Establishing and Maintaining Interpersonal Relationships: Developing constructive and cooperative working relationships with others, and maintaining them over time.
Processing Information: Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Communicating with Supervisors, Peers, or Subordinates: Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Work Context

Indoors, Environmentally Controlled: How often does this job require working indoors in environmentally controlled conditions?
Electronic Mail: How often do you use electronic mail in this job?
Telephone: How often do you have telephone conversations in this job?
Spend Time Sitting: How much does this job require sitting?
Contact With Others: How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
Letters and Memos: How often does the job require written letters and memos?
Work With Work Group or Team: How important is it to work with others in a group or team in this job?
Structured versus Unstructured Work: To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
Spend Time Making Repetitive Motions: How much does this job require making repetitive motions?
Frequency of Decision Making: How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?

Interests

Conventional: Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Enterprising: Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Social: Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Investigative: Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Realistic: Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Artistic: Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.

Work Style

Integrity: Job requires being honest and ethical.
Attention to Detail: Job requires being careful about detail and thorough in completing work tasks.
Persistence: Job requires persistence in the face of obstacles.
Cooperation: Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Self Control: Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Dependability: Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Initiative: Job requires a willingness to take on responsibilities and challenges.
Stress Tolerance: Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Achievement/Effort: Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Independence: Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.

Work Values

Support: Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Relationships: Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Independence: Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Achievement: Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Working Conditions: Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Recognition: Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.

Related Occupations

Claims Examiners, Property and Casualty Insurance

Insurance Appraisers, Auto Damage

Medical Records and Health Information Technicians

Statement Clerks

Procurement Clerks

Credit Checkers

Customer Service Representatives

Order Clerks

Insurance Claims Clerks

Lay Titles

Account Manager

Agency Service Coordinator

Cancellation Clerk

Claims Assistant

Claims Processor

Commercial Customer Service Representative

Customer Service Agent

Customer Service Representative (CSR)

Data Entry Clerk

Data Entry Operator

Document Processor

Insurance Analyst

Insurance Biller

Insurance Checker

Insurance Examining Clerk

Insurance Processing Clerk

Insurance Processor

Medical Claims Processor

Medical Collector

Personal Lines Customer Service Representative

Policy Change Clerk

Policy Checker

Policy Issue Clerk

Reinsurance Clerk

Reviewer

Revival Clerk

Special Certificate Dictator

Underwriting Assistant

National Wages and Employment Info

Median Wages (2008):: $17.17 hourly, $35,700 annual.

Employment (2008):: 226,260 employees