Skills & Competencies for Policy Processing Specialist I

Policy Processing Specialist I job profile

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JOB SUMMARY for Policy Processing Specialist I

Modifies, updates, and processes existing insurance policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.

JOB RESPONSIBILITIES for Policy Processing Specialist I

Evaluates information from application for policy reinstatement for completeness and accuracy. May approve policy if all criteria's are met.

Policy Processing Specialist I SALARY RANGE

BASE 50%
$45,535
TOTAL 50%
$46,853
Job Level
A01
Job Code
FA06000816
Education/Degree
High School Diploma or Technical Certificate
Reports To
Supervisor

Policy Processing Specialist I Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Policy Processing Specialist I skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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7 hard skills or competencies (industry competencies) for Policy Processing Specialist I

1 Industry Competency – Insurance Industry
Proficiency Level -1
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)
Cites different types of insurance policies and describes the advantages and disadvantages of each.
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Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
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Level 3 Behaviors
(Moderate Experience)
Applies risk management techniques to minimize financial impacts in insurance services.
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Level 4 Behaviors
(Extensive Experience)
Contributes to the development of insurance risk mitigation strategies to drive process improvements.
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Level 5 Behaviors
(Mastery)
Builds claim roadmaps and substantiation plans in compliance with insurance risk management practices.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -1
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)
Discusses the importance of insurance regulations in protecting clients' financial security and assets.
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Level 2 Behaviors
(Light Experience)
Gathers and interprets policy contracts to understand insurance legal and regulatory standards.
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Level 3 Behaviors
(Moderate Experience)
Maintains financial and market regulation to validate insurance's accounting methods and procedures.
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Level 4 Behaviors
(Extensive Experience)
Sets guidelines to promote fairness and transparency in financial markets in providing insurance products.
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Level 5 Behaviors
(Mastery)
Develops compliance and risk management standards to manage overall insurance legal and regulatory environment.
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3 Policy Processing Specialist I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Processing Specialist I
Proficiency Level - 4
5 Competency for - Policy Processing Specialist I
Proficiency Level - 5

1 general skill or competency (Job family competency) for Policy Processing Specialist I

1 Job Family Competencies – Document Processing
Proficiency Level -2
Skill definition-Converting, capturing, and processing data into digital formats to allow document integration into business processes.
Level 1 Behaviors
(General Familiarity)
Explains the workflow design of document processing and management.
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Level 2 Behaviors
(Light Experience)
Files paper documents for processing according to classification categories.
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Level 3 Behaviors
(Moderate Experience)
Prepares paperwork to ensure completion and conformance of documents to processing guidelines.
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Level 4 Behaviors
(Extensive Experience)
Oversees the processing of all documents to detect and avoid document errors.
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Level 5 Behaviors
(Mastery)
Leads document processing by validating data for complex issues across multiple systems.
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3 Policy Processing Specialist I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Processing Specialist I
Proficiency Level - 4
5 Competency for - Policy Processing Specialist I
Proficiency Level - 5

6 soft skills or competencies (core competencies) for Policy Processing Specialist I

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
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)
Identifies our internal and external sources for the SOPs we need.
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Level 2 Behaviors
(Light Experience)
Participates in the implementation of new SOPs and enhancement of existing ones.
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Level 3 Behaviors
(Moderate Experience)
Maintains the accuracy of SOPs to provide consistent guidance in our workplace.
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Level 4 Behaviors
(Extensive Experience)
Leverages the use of SOPs to solve business and operation problems.
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Level 5 Behaviors
(Mastery)
Keeps abreast of industry regulation and its effect on our internal SOPs.
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2 Core Competencies – Attention to Detail
Proficiency Level -2
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Lists best practices and tools to maintain high accuracy and thoroughness in the workplace.
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Level 2 Behaviors
(Light Experience)
Uses checklists to ensure that information goes out error-free.
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Level 3 Behaviors
(Moderate Experience)
Sets up processes to ensure delivery of high-quality work.
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Level 4 Behaviors
(Extensive Experience)
Employs techniques for motivating personnel to meet or exceed accuracy goals.
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Level 5 Behaviors
(Mastery)
Leads the creation of tools for enhancing and assuring accuracy.
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3 Policy Processing Specialist I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Policy Processing Specialist I
Proficiency Level - 4
5 Competency for - Policy Processing Specialist I
Proficiency Level - 5

Summary of Policy Processing Specialist I skills and competencies

There are 7 hard skills for Policy Processing Specialist I, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
1 general skills for Policy Processing Specialist I, Document Processing.
6 soft skills for Policy Processing Specialist I, Standard Operating Procedures (SOP), Attention to Detail, Initiative, etc.
While the list totals 14 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 Policy Processing Specialist I, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Attention to Detail, and be proficient in Initiative.

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