Insurance Officer
Overview:
An Insurance Officer (or Insurance Specialist) assesses, processes, and manages insurance claims and policies. They act as a liaison between the insurance company and the policyholders, ensuring that claims are handled efficiently and in accordance with policy terms and conditions.
Key Responsibilities:
- Review new insurance applications, evaluate risk, and determine policy terms and premiums.
- Process insurance claims by verifying policy coverage, investigating the circumstances, and assessing liability.
- Calculate claim payments and authorize settlements within a designated authority level.
- Communicate with policyholders, agents, and third parties (e.g., medical providers, auto body shops) to gather information and provide updates.
- Maintain detailed and accurate records of all claims and policies.
- Ensure compliance with state insurance regulations and company policies.
- Identify potential fraudulent claims and escalate them to the appropriate department.
- Provide customer service by answering questions and explaining coverage details to clients.
Qualifications & Skills:
- Bachelor’s degree in Business, Finance, or a related field is often preferred.
- Previous experience in an insurance role (claims adjuster, underwriter, etc.).
- Strong understanding of insurance products and policy provisions.
- Excellent analytical and investigative skills.
- Outstanding customer service and communication skills (both written and verbal).
- Attention to detail and the ability to work with complex documents.
- Relevant insurance licenses may be required (e.g., Adjuster license).
