Policy Administrator - Newport
About The Position
Newport, an Ascensus company, helps employers offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. As a provider and partner, Newport is independent, experienced, and responsive. Job Summary: Newport has an excellent opportunity for a Policy Administrator who will perform function that assist in the implementation and ongoing policy for all insurance products supported by Newport Group (COLI, BOLI, IOLI, Disability, Individual, and LTC).
Requirements
- Bachelor’s degree in Finance, Economics or Math or equivalent in education preferred and/or 3 years of job experience in the finance or insurance industry.
- Strong analytical, problem solving and organization skills
- Must have excellent written and oral communication skills
- Proficient using Excel, Word, PowerPoint, Adobe and Insurance product software
- Insurance License required to be obtained within the first 90 days of employment
- Detailed Oriented - Shows rigorous and meticulous attention to detail.
- Excellent Verbal and Written Communication Skills - Ability to express oneself clearly verbally and in writing.
- Flexibility - Openness to different and new ways of doing things; willingness to modify one’s preferred way of doing things.
- Time Management - The ability to plan and exercise conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity.
- Thoroughness - Ensuring that one’s own and others’ work and information are complete and accurate; carefully preparing for meetings and presentations; following up with others to ensure that agreements and commitments have been fulfilled.
Responsibilities
- Responsible for providing day to day policy administration, not limited to death benefit changes, policy surrenders, policy loans, owner and beneficiary changes, split dollar administration and miscellaneous carrier forms.
- Develop and maintain full understanding of life insurance policy administration and work with senior policy administrator on an assigned book of policies.
- Responsible for determination of premium amount based on communication with Senior Policy Administrator, Senior Consultant or Financial Analyst, client-specific documentation, and established procedures
- Prepare and process all premium and loan interest invoices as well as scheduling policy value reporting; including downloading, formatting, auditing, and forwarding to client
- Review and forward client carrier confirmation statements.
Benefits
- Collaborative, idea-sharing environment
- Professional Development with in-house training and tuition reimbursement
- Generous reward programs
- Paid time off
- Medical, dental & vision benefits
- Health Savings Account with employer contribution up to $1,100
- 401(k) & 529 college savings match programs
- Volunteer and charitable-giving programs
- Business casual dress
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
