Life Insurance New Business Case Management

Posted: 12/05/2021

Job Title:         Life Insurance New Business Case Management
Department:    New Business
Reports To:     Chief Operations Manager
FLSA Status:  Exempt
Date:               December 2021
The Life Insurance New Business Case Manager role actively manages and facilitates the smooth and efficient processing of formal and informal life insurance applications through the new business and underwriting process. Responsible for processing life insurance applications from start to finish, while resolving problems and removing barriers which could impede the process. This individual will maintain ownership of cases during the new business process, which requires engaging in frequent communication and coordination between life insurance producers, vendors, and internal resources. The Life Insurance New Business Case Manager is the main point of contact for the producers throughout the new business process and is expected to deliver an excellent customer experience. Act as an advocate on behalf of producers and their clients to achieve timely processing of their life insurance cases and favorable underwriting and new business outcomes.
  • Receives and reviews new life insurance applications for missing information, forms, signatures, and policy details
  • Enters application information into policy administration system
  • Orders and reviews underwriting requirements
  • Communicates with the underwriter to ensure that the application is processed as efficiently as possible
  • Reconciles outstanding pending case requirements and requests for additional information with agents and vendors
  • Responsible for review of issued insurance policies for accuracy prior to mailing to producers
  • Ability to understand reinsurance and ceding to reinsurer
  • Sets proper expectations with life insurance agents, regional sales managers and others regarding pending case requirements, timelines, etc.
  • Ability to review and identify abnormal answers or findings on Basic Underwriting/New Business items: Exams, MVR, applications, questionnaires
  • Communicates via email and phone with agents when necessary to support their cases
  • Follows up with producers on policy delivery requirements, including application amendments, health statements and initial premium payment to ensure policy is placed within a specified timeframe
  • Generates status reports for management, agents and others as needed
  • Has a sense of urgency without losing attention to detail, and the ability to multi-task
  • Collaborates and supports sales, customer service and customer success efforts to ensure a superior and seamless customer experience
  • Develops a good understanding of life insurance carrier’s processes and underwriting guidelines with the goal of being viewed as a new business expert.
  • Adds value to the new business process when a case encounters challenges by skillfully negotiating a creative solution agreeable to agent
  • Assists Manager in completing new business-related projects that provide value to New Business Department
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
  • Knowledge of Salesforce and policy administration system experience a plus.
  • Ability to communicate precisely and professionally in both verbal and written communications - internally and externally
  • Ability to organize and prioritize workload to ensure each case is processed, issued, and placed in a timely manner while maintaining frequent communication with stakeholders to manage customer expectations
  • Possess a strong work ethic
  • Create a sense of urgency for timely and accurate transaction processing
  • Strong attention to detail, self-management, and ability to thrive in a fast-paced environment.
  • Must have knowledge of Microsoft Office 365
  • Ability to work independently
  • English/Spanish Bi-Lingual a plus but not required
  • Demonstrated administrative skills including data entry and filing
Education and/or Experience:
  • Bachelor’s Degree or equivalent work experience preferred
  • Minimum of 2 years in the financial services industry 
  • Salesforce or other CRM system experience
  • Life Producer Insurance License preferred or working towards licensing
  • Other financial services or life insurance professional designations a plus
Communication Skills:
Ability to read and analyze certificates and policy documents. Ability to respond to common inquiries or complaints from members.
Mathematical Skills:
Ability to calculate simple math figures and amounts such as discounts, interest, and percentages.
Reasoning Ability:
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Computer Skills:
To perform this job successfully, an individual should have knowledge of Word Processing and Spreadsheet software such as Word and Excel.  CRM system a plus.
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms and talk or hear.
  • Employee may occasionally be required to lift and/or move up to 15 lbs.
  • Specific vision abilities required by this job include close vision and distance vision.
Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • While performing the duties of this job, the employee is in a typical office environment.
  • The noise level in the work environment is usually moderate.