Job Title: Insurance Operations Coordinator
Location: Omaha, NE
Job Type: Full-time
Pay: $60,000 to $75,000 + potential bonus!
Benefits:
- PTO
- Health Insurance
- Dental Insurance
- Vision Insurance
- Long-Term Disability Insurance
- 401K with company match and profit share potential
Work Schedule:
- Monday to Friday
- Around 45 hours per week with flexibility for some remote flexibility
Job Description:
As an Insurance Operations Coordinator, you will directly support our advisor team by managing the underwriting of life, disability, and long-term care insurance contracts for our clients alongside other experienced colleagues. This role requires a responsible, focused, and highly organized person willing to work collaboratively with team members and partners in the Northwestern Mutual home office to deliver a superior client experience. This is a salaried position on the operations team – no sales or business development is required in this role!
Main Responsibilities:
Underwriting
- Oversee the underwriting of the firm’s life insurance, disability, and annuity products.
Application Flow
- Oversee application flow and schedule medical exams.
Effective Communication
- Communicate effectively with clients, prospects, underwriters, producers, and fellow team members throughout the underwriting process.
Organize and Manage Cases
- Organize and manage case inventory and maintain status tracking reports.
Insurance Illustrations
- Run insurance illustrations and in-force ledgers.
Fund Management
- Effectively and efficiently fund and refund life insurance premiums.
Policy Monitoring
- Monitor existing client policies for rating reconsideration opportunities.
Client Service Communication
Answer clients’ questions about their policies, send reports, and in-force ledgers, and hold short Zoom/phone calls as needed.
Policy LatePays
- Run the “LatePay Report” weekly and coordinate payment of overdue premiums to prevent a policy lapse.
MEC Warnings
- Monitor MEC warning emails, and contact clients to coordinate actions to prevent policies from becoming MECs.
Client Service Report Review
- Review the client service report regularly to track all actions affecting client policies (lapses, MECs, changes).
Additional Responsibilities:
Post-Approval Document Management
- Send and obtain post-approval documents.
Rating Reconsiderations
- Monitor and reach out to clients for rating reconsideration opportunities.
ISA Surpluses
- Run monthly reports for surplus balances in Insurance Service Billing Accounts and refund clients as necessary.
Universal Life Premiums
- Run quarterly reports to ensure Universal Life policies have payments made as scheduled.
Variable Life Allocations
- Regularly review and ensure proper allocations for Variable Life policies.
Desired Skills and Experience:
- Detail-oriented: High attention to detail, personal responsibility, and strong organizational skills.
- Discretion and Judgment: Must exhibit the highest level of discretion and good judgment.
- Problem-solving: Ability to effectively work through challenging situations with limited formal authority.
- Proactive Mindset: Ability to anticipate and resolve issues proactively.
- Adaptability: Ability to embrace change and work in a fast-paced professional environment.
- Educational Background: Bachelor’s Degree in Finance, Accounting, Economics, or a related field.
- Licensing: Life & Health insurance licensed within 90 days of hire.
