Western & Southern Financial Group

New Business Analyst - Lafayette Life

Insurance Operations
Full Time


Summary of Responsibilities:

Reviews and accurately processes life and health insurance applications received in advanced lines of business. Thoroughly reviews application for completeness to ensure all necessary requirements are met. Approves applications within the limits of authority level and coordinates workflow of cases outside authority limits to underwriters for final disposition. Completes appropriate transactions and thoroughly reviews and validates output to ensure accuracy. Ensures compliance rules regarding policy illustrations are met. Researches inquiries and provides prompt and accurate service to internal and external customers.


Position Responsibilities:

  • Leverages knowledge of complex systems and manual processes to verify, enter and approve life and health insurance policies so that they can be issued in a timely manner to ensure compliance with state and federal guidelines.

  • Reviews application for completeness, recognizing limited system edits and understanding allowable and non-permitted coverage, etc.

  • Ensures compliance with state and federal life insurance guidelines, including producer licensing, replacement and 1035 exchanges.

  • Initiates contact with producer/agent or Replacement Company via telephone or electronic mail message to obtain information. Analyzes available information to determine if application process can proceed despite missing information.

  • Accurately keys pertinent data into mainframe to create policy record and correct reporting.

  • Adapts various system requirements when valid data is not yet available, recognizing acceptable parameters and deviations.

  • Verifies gain and cost basis calculations to ensure accurate tax reporting on all in-house transfers.

  • Receives approved cases from underwriter, reviews for completeness and accuracy, and codes the policy record appropriate to the final disposition.

  • Determines case activation status, researching additional items if needed before activation and payment to producer/agent. Identifies potential problems and makes decisions based on past cases that were similar, or escalates those situations that need management attention.

  • Ensures federal IRS guidelines such as Guideline Premium and Modified Endowment Contract are used to make case-specific judgments. On cases that are outside guidelines, determines whether to refer case to underwriter or producer/agent for resolution.

  • Ensures the process of utilizing complex sales concepts to create a policy illustration. Compares illustration to mainframe output to identify system errors.

  • Coordinates possessing requests from insured that chooses not to accept the new policy (not-takens).

  • Prepares policy for delivery to producer/agent according to individual state regulations, federal IRS guidelines, policy provisions (by product type) and Company practices.

  • Develops and presents structured job-specific training as management directs, applying appropriate adult-learning principles.

  • Performs other duties as assigned by management.


Selection Criteria:

  • Proven PC skills with data-entry experience. Ability to continuously make repetitive motions of the wrists, hands, and/or fingers.

  • Requires in-depth knowledge of available products and riders by state, age, gender, etc.

  • Demonstrated strong attention to detail with excellent organizational skills. Cite examples of organizational and time management methods used to manage or prioritize workload demands.

  • Demonstrated ability to apply knowledge to future decisions (progressive decision-making).

  • Must provide examples of maintaining a high degree of accuracy associated with high volumes of work and/or multiple duties.

  • Demonstrated excellent verbal and written communication skills with the ability to successfully interpret and communicate business needs to internal or external customers in a clear, focused, and concise manner while following proper rules of punctuation, dictation and style.

  • Demonstrated experience effectively working with customers.

  • Demonstrated experience working independently under little direction from management. Experience must include identifying and resolving problems where independent decision-making and self-initiative were demonstrated.

  • Must provide examples from work experience demonstrating flexibility to meet department and customer needs.

Work Setting:

  • This position works in an office setting and remains continuously in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.

Educational Requirements:

  • High school diploma.

  • Some college work preferred.

Computer skills and knowledge of hardware & software required:

  • Working knowledge of word processing and spreadsheet applications.

  • Working knowledge of e-mail system.

Certifications & licenses (i.e., Series 6 & 63, CPA, etc.):

  • None required.

Position Demands:

  • Extended hours required during peak workloads or special projects.


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