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3 weeks ago
Job Summary:The Insurance Operations Associate will support insurance-related functions with a focus on commercial policies. This role requires someone with prior experience in the insurance industry who can read, interpret, and analyze policy documents. The ideal candidate should have a solid understanding of insurance terminology, premiums, coverage terms, and related processes. They will work closely with the team to ensure accurate documentation, support reporting needs, and help optimize insurance operations.Key Responsibilities:1. Policy Review and Analysis:
- Review and interpret commercial insurance policies, endorsements, and certificates to verify coverage details.
- Analyze policy documents to extract key information and summarize relevant terms for internal use.
- Identify inconsistencies or gaps in coverage and flag them for further review.
- Calculate and verify premium amounts, deductibles, and other financial elements of policies.
- Track policy renewals, premium due dates, and related deadlines to ensure timely follow-ups.
- Assist in comparing coverage terms across policies to support decision-making.
- Maintain organized and up-to-date records of policies, communications, and transaction histories.
- Ensure accuracy in policy data entry and document storage across internal systems.
- Support the preparation and submission of insurance-related documents to carriers or clients as needed.
- Coordinate with insurance brokers, carriers, and internal teams to clarify policy terms or gather required documents.
- Assist in responding to queries related to insurance coverage, documentation, and premiums.
- Communicate updates on renewals, new policies, and policy changes with relevant departments.
- Support the creation of reports related to insurance coverage, claims history, and premium trends.
- Monitor compliance with insurance requirements across contracts or agreements.
- Assist in special projects related to insurance audits, renewals, or policy reviews.
- Prior experience in the insurance industry, preferably in commercial insurance.
- Ability to read and understand complex insurance documents and policies.
- Strong grasp of insurance-related terminology, policy structures, and premium calculations.
- Proficiency in MS Excel and comfort working with data and documents.
- Excellent organizational skills and attention to detail.
- Strong communication and coordination skills.
- Bachelor's degree or relevant certification in Insurance, Finance, or a related field preferred.
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