NEW BUSINESS PROCESSING & POLICY SERVICING ADMINISTRATOR

Staff Solutions

Main job tasks and responsibilities:

Obtaining the latest values from companies and knowing the different products.
Completion of New Business applications and processing thereof
Drafting and emailing New Business letters to clients
Following up on Underwriting requirements re: Risk new Business applications
Processing Conversions
Handling New Business Transfers
Investment Ad hoc applications and switches/rebalances
Obtaining Outstanding FICA and savings Compliance
Updating of portfolios once the new business/alterations issues accuracy in data/value capturing. Attention to detail is significant as the company will be held liable if incorrect amounts are quoted.
Updating registers (New business, transfer and investment registers, compliance registers, etc.)
Drafting and sending out of Final letters to client i.t.o. new business issued or finalized instructions.
Communication with clients (written and verbal).

Requirements:

Life Insurance Experience: 2 to 3 years.
Grade 12 qualification.
RE5 examination.
Full Financial / Insurance Qualification advantageous.
Be Fully bilingual (English & Afrikaans).
Computer skills and knowledge (especially of Word, Excel, Outlook, and Internet).
Knowledge of the operation of standard office equipment.
Knowledge of clerical and administrative procedures and systems, such as filing and proper record-keeping.
Knowledge of principles and practices of basic office/administrative management.
Life Assurance products Know the different types of insurance products, limits, and restrictions.
Tax implications and benefits How tax will be applied in the event of retirements/death/disability / fringe benefits (and when benefits will be tax deductible).
Investments - Know and understand how to read market movements and fluctuations, income revisions and portfolio rebalances and/or switches).
Commission structures Different commission applies to different products therefore the correct commission must be applied. Know the difference between the maximum and minimum on each product.

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