Insurance Policy Processing Clerks - 43-9041.02

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.

Sample of reported job titles: Account Administrator, Agency Service Representative, Client Process Specialist, Enrollment Representative, Insurance Analyst, Policy Analyst, Policy Service Coordinator, Policy Services Representative, Premium Representative, Processing Clerk

Tasks

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

Technology Skills

• Accounting software - Account management software
• Data base user interface and query software - Data entry software ; Database software; Microsoft Access ; Policy issuance system software
• Document management software - InSystems Calligo Enterprise
• Electronic mail software - IBM Lotus Notes; Microsoft Outlook ; Novell GroupWise
• Financial analysis software - Insurance rating software
• Internet browser software - Microsoft Internet Explorer; Web browser software
• Medical software - Healthcare common procedure coding system HCPCS ; Medical condition coding software ; Medical procedure coding software
• Office suite software - Microsoft Office
• Presentation software - Microsoft PowerPoint
• Spreadsheet software - Microsoft Excel
• Word processing software - Microsoft Word

Tools Used

• Desktop calculator - 10-key calculators
• Desktop computers
• Dictation machines
• Personal computers

Knowledge

• 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.
• 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.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

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.
• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Time Management - Managing one's own time and the time of others.

Abilities

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• 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.
• Near Vision - The ability to see details at close range (within a few feet of the observer).
• Speech Clarity - The ability to speak clearly so others can understand you.
• Speech Recognition - The ability to identify and understand the speech of another person.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

Interests

• Interest code: CE
  • 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.

Work Context

• Electronic Mail - 100% responded “Every day.”
• Telephone - 96% responded “Every day.”
• Spend Time Sitting - 86% responded “Continually or almost continually.”
• Importance of Being Exact or Accurate - 22% responded “Very important.”
• Contact With Others - 52% responded “Constant contact with others.”
• Importance of Repeating Same Tasks - 48% responded “Extremely important.”
• Indoors, Environmentally Controlled - 84% responded “Every day.”
• Letters and Memos - 63% responded “Every day.”
• Time Pressure - 48% responded “Once a week or more but not every day.”
• Face-to-Face Discussions - 54% responded “Every day.”
• Structured versus Unstructured Work - 40% responded “A lot of freedom.”
• Work With Work Group or Team - 42% responded “Extremely important.”
• Deal With External Customers - 41% responded “Extremely important.”
• Frequency of Decision Making - 44% responded “Every day.”
• Freedom to Make Decisions - 31% responded “Very little freedom.”
• Impact of Decisions on Co-workers or Company Results - 44% responded “Important results.”
• Spend Time Making Repetitive Motions - 33% responded “More than half the time.”
• Frequency of Conflict Situations - 51% responded “Once a week or more but not every day.”
• Degree of Automation - 50% responded “Moderately automated.”
• Physical Proximity - 55% responded “Slightly close (e.g., shared office).”
• Deal With Unpleasant or Angry People - 37% responded “Once a week or more but not every day.”

Education

Percentage of Respondents	Education Level Required
61%	High school diploma or equivalent
29%	Associate's degree
6%	Bachelor's degree

Work Styles

• Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
• Integrity - Job requires being honest and ethical.
• Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
• Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
• Initiative - Job requires a willingness to take on responsibilities and challenges.
• Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult 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.
• Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
• Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
• Persistence - Job requires persistence in the face of obstacles.
• Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
• Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
• Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.

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.

Wages & Trends

• Median wages (2017)
  • $18.65 hourly, $38,790 annual
• Employment (2016)
  • 309,000 employees
• Projected growth (2016-2026)
  • Faster than average (10% to 14%)
• Projected job openings (2016-2026)
  • 35,600