Insurance Operations Associate

Wealth Coast – Wealth Management & Insurance Solutions
is a financial planning services firm affiliated with Northwestern Mutual Private Client Group. Our mission "Get the most of out of life" drives how we engage with our clients, and we pride ourselves in providing comprehensive financial planning to clients that begins with a discovery process on what is most important to them. We build clients a comprehensive financial plan that integrates all facets of their financial world including private businesses, real estate, and other assets; liabilities; insurance; taxes; and cash flow. Most importantly, we prioritize implementation, flexibility, and achieving goals with a high probability of success.

ROLE

Wealth Coast is currently looking to add an Insurance Operations Associate to our team. This role is centered around facilitating new policy acquisition and delivering exceptional client services. Responsibilities include acting as a liaison to expedite underwriting processes, service insurance policies including handling policy changes, and coordinating insurance claims. The position requires collaboration with client onboarding and planning teams to ensure seamless operations and compliance, leveraging new initiatives to enhance service delivery.

RESPONSIBILITIES

New policy acquisition

• Act as a liaison for underwriting requirements, expedite the process (including working with attending physicians to get medical records more quickly), and provide internal and external updates
• Regularly monitor the Daily Status Report (DSR) and take action as needed
• Prepare policies for delivery
• Store all applications, illustrations, etc., according to the firm's document retention plan
• Input client information into our Client Relationship Management (CRM) database
• Collaborate with the client onboarding team to assist in preparing new application documentation for client signatures, coordinating medical exams, and aligning or creating billing accounts as needed.
• Support the review of applications and paperwork for completeness and accuracy before submission to the carrier, serving as backup when required.

Client services

• Handle policy changes and other maintenance, billing/insurance service accounts (ISAs), and servicing requests including, but not limited to address/beneficiary changes, bank change information, loan requests and ISA service inquiries
• Coordinate insurance claims on behalf of insured and beneficiaries
• Coordinate with 3rd party lending institutions (Busey Bank, Inclined, Bancorp, etc.) to setup and service cash-value lines of credit
• Regularly monitor the ISA Termination Report and take action as needed

Additional responsibilities

• Collaborate with leadership team to find the best solutions for unique client situations and creatively problem solve issues that arise within core client services
• Develop a solid understanding of the firm's insurance operations, pilot new programs and manage compliance to ensure the practice exceeds standards
• Determine how best to take advantage of new Northwestern Mutual insurance initiatives
• Complete annual split-dollar calculations and provide documentation to clients
• Ensure that all tasks are documented and kept up-to-date in CRM Opportunities and Tasks as defined by the firm's workflow procedures
• As needed, collaborate with other operations teammates (e.g. investment ops, service advisor, etc.) to achieve seamless on-boarding of new clients, efficient execution of plan implementation, and coordinated client communication

QUALIFICATIONS

• CA Life, Accident & Health license required
• 3+ years of industry experience
• Northwestern Mutual experience preferred
• Strong ability to communicate financial principles and concepts simply and clearly and to get clients to implement planning recommendations
• Thoughtful, approachable, respectful, and empathetic; yet also self-confident and a strong leader
• History of clean compliance record
• Efficient with Microsoft Office Suite, especially CRM, Word, Outlook, Excel & Adobe Acrobat
• Excellent communication (verbal and, especially, written) skills
• Extremely high attention to detail and ability to work with a close-knit team
• Ability to document work processes, streamline tasks for efficiency, and ensure work is done accurately
• Work collegially and productively with clients, peers, and other team members
• Publicly represent the firm's strategic brand

WHAT WE PROVIDE

• Hybrid work environment with remote work on Fridays after successful completion of introductory period
• Company paid, industry designations/certifications including exam course material
• Paid Time Off + 9 observed holidays
• Medical, Dental and Vision benefits
• 401(k) retirement plan with up to 4% match
• Employer-paid Life Insurance and LTD

Compensation: $65,000 - $80,000 (max) plus full benefits