Life Insurance Client Services Analyst

Life Insurance Client Services Analyst

Mandatory Functions:

• Understanding of Client Services
  • Work with carriers when necessary to obtain detailed and sometimes extremely complex information needed for inforce policies via email/phone, until correct.
  • Collaborate with key team members to ensure proper materials are prepared and ready for client meetings, on time.
  • Prepare and assemble materials for client meetings.
  • Attend staff meetings and capture relevant case information, record implementation instructions, and ensure that information is flowing appropriately among departments.
  • Facilitate and participate in resolving client issues by suggesting possible solutions and/or methodologies.
• Process Policy Change Requests / Client Requests
  • Obtain and prepare forms, verify if DocuSign is available, obtain signatures from appropriate parties, submit to carrier, follow through to completion.
  • Communicate with clients via phone and email for follow-up.
  • Document change in database tracking system, provide confirmation to client, and update policy record in CRM as appropriate.
  • Gather additional documentation requested by carrier, e.g., corporate resolutions, trust certification.
    • Change of Owner
    • Request ITR value.
    • Note policy value as of the date of ownership change in database tracking system.
    • Change of Beneficiary
    • Policy Loans / Withdrawals
    • Change of Death Benefit Option
    • Change of Face Amount
    • Change of Premium Amount / Mode / Bank Account for EFT
    • Change of Address
    • Change of Trustee
    • Death Claims
    • Other Changes
  • Term conversions - coordinate & provide data to New Business team.

 

 

• Invoice for Premiums Due
  • When not known, research how and to whom invoices are sent.
  • Create invoice.
  • Confirm available methods of payment, e.g., carrier wire instructions, pay online or by phone info, overnight mail address.
  • Follow-up after invoice sent to make sure premium is paid.
  • Communicate with client via email and phone for follow up.
  • Contact various parties for signatures, e.g., if trustees need to sign off on the release of funds.
• Prepare Materials for Annual Reviews
  • Insurance Summaries
    • Gather policy values, total premiums paid, paid-to-date and confirm owner/beneficiary on file with carrier are correct.
    • Confirm DOB, issue age, risk class issue date, etc. are entered correctly.
    • Update spreadsheet footnotes with any additional information as appropriate.
    • Update policy record in CRM as appropriate.
  • Prepare premium history.
  • Prepare Index Segment report for IUL policies.
  • Pull current fund selection and historical performance data for VUL policies.
  • Run or order in-force illustrations as appropriate.
  • Save inforce ledgers to the server, print copies for inclusion in presentation binder if applicable.
  • Add / update future tasks in database tracking system.
  • Note any important items to communicate to producers.
• Report Monthly and Quarterly Values
  • Pull policy values and provide to appropriate parties (lenders/assignees)
• Prepare Follow Up or General Client Meeting Materials
  • Gather additional information from outside sources when appropriate.
  • Prepare polished presentation materials.
• Other Duties As Assigned
  • In a smaller firm, everyone pitches in when needed.

 

 

Knowledge Base:

• Minimum 5 years of experience in the life insurance industry and client services processes.
• Solid foundation of the needs of an independent retail firm and its producers.
• Ability to interact and work well with insurance wholesalers, carrier home office representatives, and clients.
• Excellent working knowledge of all software necessary to perform job.
• Computer and office equipment experience, Word Processing, Excel, Data Entry.
• Extremely adept at Excel spreadsheet development.
• Attention to detail and accuracy of work are imperative.
• Must be dependable and flexible in changing priorities with the ability to handle multiple tasks.
• Possess excellent interpersonal and communication skills (both oral and written) and communicate in a clear, understandable way.
• Knows correct format for correspondence (letters, memos, reports etc.)
• Excellent proofreading skills.
• Must be able to apply