Insurance Policy Processing Clerks Onet SOC Code 43-9041.02 Career Description: Process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records. Related Clusters: Programs of Study Insurance Policy Processing Clerks

Career Summary:

• Experience- Some previous work-related skill, knowledge, or experience may be helpful in these occupations, but usually is not needed. For example, a teller might benefit from experience working directly with the public, but an inexperienced person could still learn to be a teller with little difficulty.
• Education- These occupations usually require a high school diploma and may require some vocational training or job-related course work. In some cases, an associate's or bachelor's degree could be needed.
• Job Training- Employees in these occupations need anywhere from a few months to one year of working with experienced employees.
• Examples- These occupations often involve using your knowledge and skills to help others. Examples include sheet metal workers, forest fire fighters, customer service representatives, pharmacy technicians, salespersons (retail), and tellers.

• Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
• Process and record new insurance policies and claims.
• Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
• Organize and work with detailed office or warehouse records, maintaining files for each policyholder, including policies that are to be reinstated or cancelled.
• Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
• Correspond with insured or agent to obtain information or inform them account status or changes.
• Transcribe data to worksheets and enter data into computer for use in preparing documents and adjusting accounts.
• Notify insurance agent and accounting department of policy cancellation.
• Interview clients and take their calls to provide customer service and obtain information on claims.
• Compare information from application to criteria for policy reinstatement and approve reinstatement when criteria are met.
• Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
• Collect initial premiums and issue receipts.
• Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
• Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
• Compose business correspondence for supervisors, managers and professionals.
• Check computations of interest accrued, premiums due, and settlement surrender on loan values.

• Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

• Near Vision - The ability to see details at close range (within a few feet of the observer).
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

• Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
• Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
• Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
• Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
• Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

• Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
• First Interest High-Point - Primary-Rank Descriptiveness
• Second Interest High-Point - Secondary-Cutoff/Rank Descriptiveness

• Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
• Integrity - Job requires being honest and ethical.
• Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
• Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
• Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
• Initiative - Job requires a willingness to take on responsibilities and challenges.
• Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
• Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
• Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
• Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.

• Working Conditions - Workers on this job have good working conditions.
• Moral Values - Workers on this job are never pressured to do things that go against their sense of right and wrong.
• Supervision, Human Relations - Workers on this job have supervisors who back up their workers with management.
• Activity - Workers on this job are busy all the time.
• Company Policies and Practices - Workers on this job are treated fairly by the company.
• Support-Mean Extent - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
• Security - Workers on this job have steady employment.
• Co-workers - Workers on this job have co-workers who are easy to get along with.
• Working Conditions-Mean Extent - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
• Relationships-Mean Extent - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
• Advancement - Workers on this job have opportunities for advancement.
• Supervision, Technical - Workers on this job have supervisors who train their workers well.

Wage and salary data provided by:

• Bureau of Labor Statistics, Tennessee Department of Labor website
• TN Department of Labor & Workforce Development website
• Bureau of Economic Analysis website