Modifies, updates, and processes existing insurance policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
Evaluates information from application for policy reinstatement for completeness and accuracy. May approve policy if all criteria's are met.
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.
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)
Names the commonly used tools and techniques for insurance planning and risk management.
Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
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)
Explains the application of insurance regulatory laws to avoid civil penalties and license suspension.
Level 2 Behaviors
(Light Experience)
Supports the execution of a legal and regulatory framework to promote strict insurance compliance.
Level 3 Behaviors
(Moderate Experience)
Performs compliance reviews to determine possible violations and deficiencies in insurance regulations.
Level 4 Behaviors
(Extensive Experience)
Trains teams on new laws and regulations to reduce liability risks and compliance violations.
Level 5 Behaviors
(Mastery)
Establishes best practices in creating insurance laws and regulations to prevent frauds and malpractices.
Skill definition-Converting, capturing, and processing data into digital formats to allow document integration into business processes.
Level 1 Behaviors
(General Familiarity)
Lists commonly used intelligent systems and applications used in document processing.
Level 2 Behaviors
(Light Experience)
Follows applicable standard operating procedures in converting relevant data into digital document formats.
Level 3 Behaviors
(Moderate Experience)
Works with the document control personnel in handling the processing of document changes.
Level 4 Behaviors
(Extensive Experience)
Validates and resolves the discrepancies in important documents to ensure accurate processing.
Level 5 Behaviors
(Mastery)
Leads the processing of data into electronic documents to foster digital transformation.
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)
Lists the typical processes of SOP development.
Level 2 Behaviors
(Light Experience)
Supports the analysis of our business and operations processes for SOP design and development.
Level 3 Behaviors
(Moderate Experience)
Researches new tools and techniques for SOP daily management.
Level 4 Behaviors
(Extensive Experience)
Resolves complex issues arising from SOP practices; develops preventative solutions accordingly.
Level 5 Behaviors
(Mastery)
Monitors industry for SOP trends and best practices; makes recommendations about those that benefit our business.
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Lists the traits of an employee showing great attention to detail.
Level 2 Behaviors
(Light Experience)
Utilizes specific approaches and tools for checking and cross-checking outputs.
Level 3 Behaviors
(Moderate Experience)
Uses tools to organize and monitor work progress.
Level 4 Behaviors
(Extensive Experience)
Manages training to improve staffs' concentration and attention to detail.
Level 5 Behaviors
(Mastery)
Learns from previous works' strengths and weaknesses to guide new projects.
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.
