Policy Administrator

Homesteaders Life Company•West Des Moines, IA

8h•$47,000 - $49,000•Hybrid

About The Position

As a Policy Administrator, you will work to provide written and verbal communication with policy owners, agents and funeral directors. This will include a variety of policy administration processes, receiving and processing premium payments and unpaid checks; performing daily balancing of related premium accounts, receiving and processing policy cancellations, surrenders, maturities, and loans. Additionally, this could include reinstatements, pay-ups, add-ons, payment audits. Your responsibilities will include: Process and apply policy payments in LifePro, ensuring accurate allocation and following up with customers when clarification is needed. Perform daily balancing of assigned accounts to ensure alignment between system records and the general ledger. Research accounting and policy reports to identify discrepancies or stale entries, determine corrective actions, and apply updates accordingly. Handle unpaid checks and EFT returns by analyzing issues, determining next steps, updating systems, and communicating with customers or financial institutions. Review accounting history and conduct audits of premium payments and other transactions to verify accuracy and coordinate any necessary corrections. Process a variety of policy changes, including maturities, loans, duplicates, preneed updates, surrenders, and cancellations. Review and complete additional policy updates such as riders, early pay-ups, and reinstatements, ensuring all requirements and compliance standards are met. Ensure adherence to regulatory guidelines, including Texas Department of Banking requirements, when processing policy and prearrangement changes. Review new business applications and preneed contracts for completeness, resolve issues with agents or funeral homes, and issue policies in LifePro. Communicate with agents, funeral homes, policyholders, and internal teams to gather information, clarify requirements, and provide updates. Maintain and update departmental procedures related to policy accounting and support, ensuring documentation remains accurate and current.

Requirements

Equivalent to GED and an associate’s degree or two-year equivalent experience in insurance or accounting is preferred.
3+ years in the insurance industry in Policy Administration or Customer Service and communicating with the public.
Demonstrated proficiency in Microsoft office products: Excel, Outlook and Word.
Knowledge of ACH transaction processing and general principles of accounting systems is preferred.
LifePro experience a plus.
Completion of LOMA courses in Principles and Operations is a plus.

Nice To Haves

Equivalent to GED and an associate’s degree or two-year equivalent experience in insurance or accounting is preferred.
Knowledge of ACH transaction processing and general principles of accounting systems is preferred.
LifePro experience a plus.
Completion of LOMA courses in Principles and Operations is a plus.

Responsibilities

Process and apply policy payments in LifePro, ensuring accurate allocation and following up with customers when clarification is needed.
Perform daily balancing of assigned accounts to ensure alignment between system records and the general ledger.
Research accounting and policy reports to identify discrepancies or stale entries, determine corrective actions, and apply updates accordingly.
Handle unpaid checks and EFT returns by analyzing issues, determining next steps, updating systems, and communicating with customers or financial institutions.
Review accounting history and conduct audits of premium payments and other transactions to verify accuracy and coordinate any necessary corrections.
Process a variety of policy changes, including maturities, loans, duplicates, preneed updates, surrenders, and cancellations.
Review and complete additional policy updates such as riders, early pay-ups, and reinstatements, ensuring all requirements and compliance standards are met.
Ensure adherence to regulatory guidelines, including Texas Department of Banking requirements, when processing policy and prearrangement changes.
Review new business applications and preneed contracts for completeness, resolve issues with agents or funeral homes, and issue policies in LifePro.
Communicate with agents, funeral homes, policyholders, and internal teams to gather information, clarify requirements, and provide updates.
Maintain and update departmental procedures related to policy accounting and support, ensuring documentation remains accurate and current.