Life insurance administrator jobs specialize in handling life insurance applications, policies, and claims for insurance firms. The job involves mostly office and desk work, although some travel may be required for document processing and delivery. Life insurance administrators provide secretarial support to other insurance experts such as examiners and adjusters. Most jobs are full-time, but unlike other financial planning, insurance, and superannuation jobs, there are usually no opportunities for independent additional work.
The average pay for life insurance administrator jobs is $59,000 per year. The range is usually from $35,000 to $70,000, depending on the nature and scope of the job. Large companies tend to offer higher compensation packages.
Job description
Life insurance administrators often perform several tasks at once, most of them involving clerical and office work. People in this position need good organization and multi-tasking skills, since most of the work is on tight deadlines. Here are some other things to expect on the job:
- Monitoring all the work in process and making sure they all get completed on schedule
- Ensuring compliance with company policies, especially in documentation and client service
- Receiving and responding to calls from clients, answering basic inquiries, and directing them to the right departments if needed
- Handling the paperwork required for key processes, such as claims investigation, approval and rejection, and insurance applications
- Scheduling meetings with clients and insurance agents
- Keeping a file of inquiries, complaints, requests, and other client concerns, including a follow-up of each case
- Ensuring good client relations by monitoring communications and making sure all concerns are promptly addressed
- Keeping track of the company's or department's day-to-day expenses, and providing financial reports as needed
Qualifications
Like most financial planning, insurance, and superannuation jobs, insurance administrator jobs usually require a bachelor's degree, preferably in a related field such as business or finance. Most of them also require some experience, although some employers set a low minimum of around six months. This is usually an entry position, and most employees eventually work their way up to higher positions after completing further studies or satisfying other company requirements.
