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

Food Production
Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
Physics
Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub- atomic structures and processes.
Fine Arts
Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.

Skills

Science
Using scientific rules and methods to solve problems.
Operation and Control
Controlling operations of equipment or systems.
Technology Design
Generating or adapting equipment and technology to serve user needs.
Equipment Selection
Determining the kind of tools and equipment needed to do a job.
Installation
Installing equipment, machines, wiring, or programs to meet specifications.
Equipment Maintenance
Performing routine maintenance on equipment and determining when and what kind of maintenance is needed.
Troubleshooting
Determining causes of operating errors and deciding what to do about it.
Repairing
Repairing machines or systems using the needed tools.

Abilities

Multilimb Coordination
The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
Trunk Strength
The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without 'giving out' or fatiguing.
Wrist-Finger Speed
The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
Rate Control
The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
Reaction Time
The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
Response Orientation
The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
Speed of Limb Movement
The ability to quickly move the arms and legs.
Static Strength
The ability to exert maximum muscle force to lift, push, pull, or carry objects.
Explosive Strength
The ability to use short bursts of muscle force to propel oneself (as in jumping or sprinting), or to throw an object.
Dynamic Strength
The ability to exert muscle force repeatedly or continuously over time. This involves muscular endurance and resistance to muscle fatigue.

Work Activities

Repairing and Maintaining Electronic Equipment
Servicing, repairing, calibrating, regulating, fine-tuning, or testing machines, devices, and equipment that operate primarily on the basis of electrical or electronic (not mechanical) principles.
Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment
Providing documentation, detailed instructions, drawings, or specifications to tell others about how devices, parts, equipment, or structures are to be fabricated, constructed, assembled, modified, maintained, or used.

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.

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