Premium Consultation Associate
- Career Level
- Not Specified
This is an entry level professional position which under direction, performs premium audits on policyholders as assigned to ensured correct premium exposures are captured.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Other duties may be assigned. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Perform job duties in accordance with MEM’s mission, vision and values.
Conduct premium audits on prospective and existing policyholders for the purpose of gathering related data to analyze proper risk classification, premium basis, and scope of operations.
Interview, research, develop opinions, and submit recommendations based on current departmental standard. Create reports for distribution to Underwriting to clarify covered risk and potential exposure as well as identification of changes in classification which might affect premium.
Initiate, acquire, and perform audit consultation efficiently to manage workload in a cost effective manner.
Educate policyholders through audit result discussion regarding basic insurance principles and facilitate financial records compilation to aid in satisfactory policyholder reporting.
Knowledgeable on Missouri workers' compensation laws that affect account's classification and premium.
Interpret and apply premium audit standards to the work product as documented in the National Council of Compensation Insurance (NCCI) Basic Manual and Scopes Manual
Continue professional growth and development through self-study on specialized or procedural changes regarding premium audit as a result of Missouri Department of Insurance determination or NCCI rulings and updates.
Complete technical, professional, and insurance training programs as required or requested.
Keep informed and knowledgeable of company's policies on Underwriting, Premium Consultation, Safety & Risk Services, Claims, and Legal.
Alert manager, underwriting teams, and affected department as to issues and problems including fraud, within assigned area of responsibility; refer matters beyond limits of authority and expertise to manager for direction.
Complete administrative reports such as production reports, expense reports, mileage reports and other management requested reports. Utilize Microsoft Outlook calendar to enter planned and completed activities.
Utilize Visual Audit software and various computer applications to accomplish and communicate work product with internal and external customers.
Work with management to mirror MEM services to policyholders located in close proximity within expansion states. Previsor accounts will receive the same services from Premium Consultation as MEM accounts.
Follow MEM Corporate safety standards and ensures proper care and usage of equipment and company materials.
Develop an understanding of the consultative process.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
A bachelor’s degree preferably in accounting, finance, or business management and/or other degreed program. If degreed program does not have a strong accounting background, applicant must be willing to pursue courses related to accounting or insurance field as needed.
DESIGNATIONS / CERTIFICATIONS:
Zero to three years of professional level work experience in the area of auditing workers’ compensation.
Ability to conduct interviews and assimilate information to work documents
Ability to build and maintain favorable ongoing relationships with policyholders and producers.
Ability to gain understanding of premium audit regulations
Ability to gain an understanding of Missouri workers compensation law
Ability to communicate ideas and information verbally, both one-on-one and in groups, in a manner that is clear and concise.
Ability to explain results and educate the policyholder to diffuse potential disputes.
Ability to present written information in a clear, concise and organized manner.
Ability to write technical information so that it can be understood by non-technical audiences.
Ability to work independently to meet required deadlines.
Ability to schedule and coordinate travel for geographic efficiency.
Ability to use Microsoft Office programs.
Ability to read, write, speak, and comprehend English fluently, using correct grammar, sentence structure, spelling, and vocabulary appropriate to the position.
Ability to read and comprehend basic/complex instructions given from written and oral sources.
Must possess excellent oral and written communications skills.
Ability to speak clearly in person and over the telephone.
Ability to effectively present information written and orally to top management, employees and the public.
Ability to make oral presentations to groups of people.
COMPUTER SKILLS AND ABILITIES:
Basic knowledge of word processing, spreadsheets and presentation software.
Demonstrate good typing technique.
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