6 hard skills or competencies (industry competencies) for New Policy Specialist
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Defines the key terminologies and components of an insurance policy.
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Level 2 Behaviors
(Light Experience)
Enters new information about insurance premiums and payments to update insurance policy records.
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Level 3 Behaviors
(Moderate Experience)
Examines insurance applications and letters from clients to determine necessary policy changes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
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Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
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Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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3 general skills or competencies (Job family competencies) for New Policy Specialist
Skill definition-Converting, capturing, and processing data into digital formats to allow document integration into business processes.
Level 1 Behaviors
(General Familiarity)
Cites various document classification categories and systems for the processing of data.
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Level 2 Behaviors
(Light Experience)
Assists in processing document requests of various electronic formats to classify documents.
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Level 3 Behaviors
(Moderate Experience)
Extracts layout and structure from documents for processing and routing to intended recipients.
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Level 4 Behaviors
(Extensive Experience)
Coordinates daily workflow of document processing to ensure on-time and accurate completion of forms.
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Level 5 Behaviors
(Mastery)
Designs methodologies for efficient document processing to meet business and operational goals.
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Skill definition-Collecting, analyzing, and measuring satisfaction levels of customers to improve our business's service and products.
Level 1 Behaviors
(General Familiarity)
Cites the best practices used in improving customer satisfaction.
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Level 2 Behaviors
(Light Experience)
Adheres to our policies in providing customer satisfaction.
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Level 3 Behaviors
(Moderate Experience)
Analyzes survey results to identify opportunities in improving customer service and satisfaction.
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Level 4 Behaviors
(Extensive Experience)
Creates and leverages KPIs to measure the effectiveness of customer satisfaction.
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Level 5 Behaviors
(Mastery)
Champions the adoption of digital analytics to measure customer satisfaction.
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6 soft skills or competencies (core competencies) for New Policy Specialist
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Cites examples of SOP practices in our business operations.
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Level 2 Behaviors
(Light Experience)
Assists in the preparation of internal standard operating procedures (SOP).
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Level 3 Behaviors
(Moderate Experience)
Analyses our business and operations to identify room for improvement on the related standard operating procedures.
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Level 4 Behaviors
(Extensive Experience)
Coaches others on the implementation of SOP to reduce errors and improve quality.
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Level 5 Behaviors
(Mastery)
Builds a monitoring system to evaluate the effectiveness of our SOPs.
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Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Cites steps and tips to improve attention to detail in the workplace.
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Level 2 Behaviors
(Light Experience)
Keeps full attention when listening to understand the message.
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Level 3 Behaviors
(Moderate Experience)
Balances between accuracy and efficiency for different tasks or programs.
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Level 4 Behaviors
(Extensive Experience)
Creates and implements quality management processes for our business.
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Level 5 Behaviors
(Mastery)
Defines possible hurdles to projects and creates strategies to deal with them.
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Summary of New Policy Specialist skills and competencies
There are 6 hard skills for New Policy Specialist, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for New Policy Specialist, Document Processing, Customer Satisfaction, Customer Support.
6 soft skills for New Policy Specialist, Standard Operating Procedures (SOP), Attention to Detail, Time Management, etc.
While the list totals 15 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a New Policy Specialist, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Attention to Detail, and be proficient in Time Management.