POSITION OVERVIEW
Penn Insurance and Annuity of New York (affiliate of Vantis Life Insurance Company, member of Penn Mutual Life Insurance family of companies is forming a new client services team to process and service our life and annuity business. The team will be located in our Windsor, CT location. This team is essential to our business, as they are the face of our company, providing critical interactions with our financial professionals and their clients. As a POLICY ADMINISTRATOR, you will interact directly with our field offices and financial professionals to accept, review and process individual life new business and annuity applications, as well as informal applications. You will ensure that the applications will partner with our underwriting team in a manner which facilitates timely risk assessment, decision making, issuance, and timely final action of application file. You will also delivery policy administration support.
RESPONSIBILITIES
- Manages an assigned caseload of individual life applications from submission to policy issue
- Receives and reviews life applications from financial professionals and completes data entry and document indexing in new business entry system
- Reviews electronically entered data for life applications and required forms; identifies and resolves any discrepancies and missing requirements; ensures all regulatory controls are enforced; acknowledges receipt of requirements on system, identifies and advises financial professionals of any additional information required, applying expertise, established procedures and regulatory rules to determine if requests are in ‘good order’
- Upon final decision by underwriter, prepares case and system for issuing a policy according to regulatory requirements; reviews case for any changes and for completion and accuracy of information; processes necessary changes prior to issuing policy contract
- Proactively communicates with field offices and financial professionals, both verbally and in writing, all case developments, including contract status, outstanding requirements and transactions/processing explanations
- Reviews and matches any new requirements to case and updates system to reflect changes
- Handles and/or critical in-bound phone and written communication from financial professionals and end clients and answers questions regarding life/annuity products and/or servicing needs
- Using our workflow, imaging, and processing systems; handles complex in-bound requests for financial transactions within established service level agreements, while providing a consistent and high caliber of quality and attention to detail and escalating concerns when necessary
- Processes complex transactions and documents records with consistent and high caliber of quality and attention to detail
- Establishes and maintains high quality financial professional and client relationships – assesses needs and responds to them effectively; monitors and controls case activity; refers case to technical specialist and/or other as needed
- Maintains knowledge of all individual life products, illustrations, systems, regulatory issues and department standards and goals
- Develops and maintains strong working knowledge of administrative systems and all appropriate capabilities
- Meets speed of service and quality goals for each task function and contribute to overall team goals
- Recommends and facilitates process changes to continuously improve the customer experience
- Performs various other related duties and assignment as needed
- Complies with all company and site policies and procedures
- Remains current in profession and industry trends
Required Skills
- Ability to function in a fast paced and collaborative team environment with high productivity and accuracy expectations
- Adaptable to a changing environment and flexibility around work assignments
- Solid math skills
- Demonstrates strong attention to detail
- Strong interpersonal, verbal, and written communication skills
- Strong computer experience; demonstrated ability in Microsoft Office; the ability to utilize multiple systems and windows simultaneously
- Demonstrates initiative, self-motivation and excellent organization skills, ability to set priorities, work under pressure and meet deadlines
- Adapting to change
- Collaborating with others
- Strong Customer focus
- Respect for diversity
- Focusing on detail
- Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement
- Ability to work with others in a collaborative team environment
Required Experience
EXPERIENCE
- 3 – 5 years’ experience in service delivery
- Prior experience and/or knowledge of universal/variable life insurance a plus
- Knowledge of NY life and annuity products preferred
EDUCATION/LICENSES/PROFESSIONAL DESIGNATIONS
- High School diploma required
- Bachelor’s degree preferred
PENN INSURANCE OF NEW YORK IS AN EQUAL OPPORTUNITY EMPLOYER AND, AS SUCH, IS COMMITTED IN POLICY AND PRACTICE TO RECRUIT, HIRE, COMPENSATE, TRAIN AND PROMOTE, IN ALL JOB CLASSIFICATIONS, WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX (INCLUDING PREGNANCY), AGE, NATIONAL ORIGIN, DISABILITY, SEXUAL ORIENTATION, GENDER IDENTITY AND EXPRESSION, VETERAN’S STATUS, OR GENETIC INFORMATION. OPPORTUNITIES THROUGHOUT THE COMPANY ARE AVAILABLE TO PENN MUTUAL ASSOCIATES AND EXTERNAL CANDIDATES AND ARE EVALUATED ON THE BASIS OF POSITION QUALIFICATIONS.
LEADERS MAY, AT THEIR DISCRETION, CHANGE THE RESPONSIBILITIES IN THIS POSITION DESCRIPTION AT ANY TIME DUE TO REASONABLE ACCOMMODATION AND/OR OTHER BUSINESS REASONS.