• Job Vacancy at a Non-Banking Financial Institution - Fosad Consulting

  • Posted on: 5 October, 2016 Deadline: Not Specified
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  • Our client, a non-banking financial service institution is looking to hire a highly intelligent, young and dynamic professional with integrity to fill the role of Policy Renewal Officer (PRO).

    Policy Renewal Officer

     

    Job 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.

    Job Responsibilities

    • Interview policy holders 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.
    • 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.
    • Compose business correspondence for supervisors, managers and professionals.
    • Check computations of interest accrued, premiums due, and settlement surrender on loan values.

    Qualifications
    B.Sc in Insurance, Business Administration or any related field.
    One year experience in a similar role

    Additional Information
    Only qualified candidates will be contacted.

    Method of Application

    Interested and qualified? Go to Fosad Consulting career website on www.smartrecruiters.com to apply

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