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)
Describes the basic structure of insurance legal and regulatory environment.
Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
Skill definition-Converting, capturing, and processing data into digital formats to allow document integration into business processes.
Level 1 Behaviors
(General Familiarity)
Describes the methodologies of document processing.
Level 2 Behaviors
(Light Experience)
Assists in receiving, updating, and distributing documents of different file formats.
Level 3 Behaviors
(Moderate Experience)
Performs document processing in electronic formats for storage.
Level 4 Behaviors
(Extensive Experience)
Leverages the latest technologies in documentation processes to reduce paperwork and increase efficiency.
Level 5 Behaviors
(Mastery)
Establishes documentation controls to increase data accuracy and security.
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)
Describes the purposes and benefits of Standard Operating Procedures (SOP).
Level 2 Behaviors
(Light Experience)
Compiles and maintains SOPs under our current policies and directions.
Level 3 Behaviors
(Moderate Experience)
Ensures internal SOPs are in compliance with industry standards and regulations.
Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs to ensure our SOPs are fully communicated and adhered to.
Level 5 Behaviors
(Mastery)
Champions the adoption of SOP to foster efficiency and consistency.
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Explains why attention to detail plays an important role in own function or unit.
Level 2 Behaviors
(Light Experience)
Performs assigned responsibilities according to standard procedures and standards.
Level 3 Behaviors
(Moderate Experience)
Implements a variety of cross-checking approaches and mechanisms.
Level 4 Behaviors
(Extensive Experience)
Demonstrates expertise in quality assurance tools, techniques, and standards.
Level 5 Behaviors
(Mastery)
Designs techniques for measuring the cost and impact of errors.
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.
