What are the responsibilities and job description for the Contract Administration Representative position at Group1001?
Group 1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001's culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets - our employees.
Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals. All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.
Job Summary :
The Contract Administration Representative position is responsible for the processing of annuity application packages and / or associated transactions in an accurate and timely manner. This position's primary focus may vary depending on the specific operational department the incumbent is hired into. All tasks focus on the overall execution of new business applications packages and associated transactions for Fixed, Fixed-Indexed, and Variable policies. This role is part of the Delaware Life Insurance Company's operations team supporting an internal administration platform. You will have the opportunity to learn the annuity application process and ensure accuracy and adherence to compliance requirements. In this role you will utilize your ability to manage competing priorities and collaborate with fellow team members.
Main Accountabilities :
- Review and process new business paperwork to issue the business in an accurate and timely manner. This includes, but is not limited to, entering data into the administration system, validation of adherence to state / regulatory / product / business rules, suitability reviews, and working with agents to resolve issues (NIGOs).
- Examination of internally processed transactions (ex : identified issues (NIGOs), completed application packages, processed payments).
- Engagement of Financial Professionals and / or other carriers related to issue resolution and / or status updates. Some follow up will require email correspondence. This is not a contact call center.
- Assist with processing other types of maintenance and withdrawal transactions as needed.
- Learning, retaining, and updating one's knowledge of a wide variety of financial product information and internal processes and procedures, while adhering to strict financial industry rules and regulations.
- Support both internal service partners, Financial Professionals, and Clients with all new business operations.
- Other duties as assigned; Assist in special projects as needed.
Qualifications :
Benefits Highlights :
Employees who meet benefit eligibility guidelines and work 30 hours or more weekly, have the ability to enroll in Group 1001's benefits package. Employees (and their families) are eligible to participate in the Company's comprehensive health, dental, and vision insurance plan options. Employees are also eligible for Basic and Supplemental Life Insurance, Short and Long-Term Disability, and to enroll in the Company's Employee Assistance Program and other wellness initiatives. Employees may also participate in the Company's 401K plan, with matching contributions by the Company.
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