Annuities & Structured Settlements Assistant Underwriter

Company:

NICO National Indemnity Company

Want to work for a company with unparalleled financial strength and stability that offers “large company” benefits with an exciting, friendly, and “small company” atmosphere?  Our companies, as members of the Berkshire Hathaway group of Insurance Companies, provides opportunities for professionals interested in just that. 

A Brief Overview

Provides specialized support to the life insurance companies annuity operations and the property/casualty structured settlement operation which may include: a) communication with brokers and company personnel; b) intake and indexing of daily mail and documents, review and coordination of producer appointments and commission payments, premium confirmation letters to brokers, reviewing files for potential current address information, recording information, assisting with contract release and other administrative duties; c) operation of computer and various software/systems to produce a variety of documents such as annuity contract, corporate guarantee, reinsurance agreement, Company forms and correspondence; d) answer annuitant/claimant structured settlement questions received by phone and written requests; e) review of premium acceptance; and f) coordination of payment review and distribution.

What will you do?

• INDEXING AND MAIL: Responsible for indexing and setting ImageRight tasks based on the evaluation of incoming mail and categorizing documents submitted by brokers and annuitants/payees based on key criteria. Such items include incoming premium, commission invoices, 3rd party payment transfer documents including court orders, payment acceleration requests, payment acceleration terms and conditions responses, direct deposit (EFT) forms, name, address and beneficiary change documents. Contact brokers, as needed, when documents are illegible or pages are missing. Notify Senior Legal Counsel or Paralegal when court documents are illegible.
• LOSS PAYEES: Responsible for locating lost payees. This includes reviewing annuity and periodic payment reinsurance forms and correspondence to identify potential current address information, calling payees, brokers, attorneys, or fiduciaries, writing and sending correspondence, or requesting an address search be performed. Documents the ImageRight file with efforts and results.
• COMMISSION ACTIVITIES: Responsible for commission payment processing which includes review of control document to ensure commission amount is accurate, review of agency and individual appointment status, requests invoices and commission sharing agreements from brokers, resolves discrepancies with brokers and/or CT office, prepares commission payment authorizations in company software, routes authorizations for authorized signatures and timely release to Finance for payment. Documents the ImageRight file accordingly to indicate current commission payment status to avoid duplicate commission payments.
• AGENCY CONTRACTS AND LICENSING: Responsible for processing agency agreements and both agency and individual producer applications. Reviews the licensing and appointment status of producing agencies and individuals using department tools and/or vendor websites and communicates with agencies and individual producers to request missing documents or state licensing documentation when necessary. Requests appointments or terminations from the Agency Compliance Department.
• ENDORSEMENTS AND CORRESPONDENCE: Answers annuitant/claimant structured settlement phone calls and prepares written response to correspondence from various parties such as claimants, brokers, in-house claims personnel, and others by handling inquiries/problems and brings unique and unusual issues to the attention of the ANN/SS Supervisor or ANN/SS Manager and assists as directed. Prepares changes from claimants such as preparing address change endorsements and requesting payments and/or voiding and reissuing payments. Identifies issues for review by ANN/SS Supervisor or ANN/SS Manager.
• ANNUITY AND REINSURANCE DOCUMENTS: Prepares contracts, endorsements, reinsurance agreements and other documents related to issuance of annuity contracts and reinsurance agreements. Completes and attaches appropriate additional forms. Reviews payee information sheet, settlement agreement and settlement agreement checklists, conservator/guardian/trust documents, birth records, e-mails, FAX's, invoices, correspondence, identifies missing and inaccurate information for input into annuity contracts, corporate guarantees, etc. Brings discrepancies to the attention of the appropriate authority and processes as directed. Answers broker questions regarding document corrections and changes. May prepare documents for brokers as needed such as financing statements.
• VERIFICATION RESPONSIBILITIES: Verifies annuitant information meeting state response deadlines using state regulatory systems. Verifies child support lien actions by searching Child Support Lien Network and Massachusetts Payment Intercept programs against Company disbursement records to determine legal obligations. May verify Social Security Numbers for all payees prior to document completion using research service. Brings problems to the attention of management.
• PREMIUM RECORDING: May monitor, accept and record premium in adherence with the Company’s Anti-Money Laundering Policy and notice of same to department personnel, Connecticut office personnel, and Finance Department; may contact brokers to resolve routine premium issues. Responsible for preparation and release of premium refunds. May acknowledge receipt of premium to brokers.
• PAYMENT RESPONSIBILITIES: May Review direct deposit requests for acceptability. Updates, verifies, and reviews payment instructions in the payment system. Initiates initial check issuance on new files by verifying the completeness and accuracy of required documents (payee data sheet, premium, court order, trust, guardianship documents). Initiates and validates the monthly batch payment file for final review by management. Authorizes redirection of payments and changes from payees such as address changes, void payment requests, stop payment requests and/or reissues of checks within authority. Coordinates the review and follow up of outstanding checks and payments owed to the Company due to improper cashing of checks by the payee. Brings unique issues to the attention of appropriate authority and assists as directed.
• REGULATORY FORMS: Requests proper tax certification and withholding forms such as W9 and W4-P from payees, attorneys and brokers according to IRS regulations, reviews W9 and W4-P for completeness and accuracy, forwards W9 and W4-P forms to the Tax Department for review and subsequent instruction and verifies and updates tax withholding instruction within the payment system.
• COLLABORATION: Acts as liaison for Company by providing excellent customer service, maintaining positive corporate image through communications and personal contacts with annuitants, attorneys, claimants/payees, brokers, Company personnel, etc.

We want you to be involved! We offer Employee Resource Groups for volunteering, connecting with others, social gatherings, and professional development. We also regularly seek employees input through companywide surveys.

We care about your health and wellbeing! Our Wellness program is integrated into the Company culture with an online wellness portal that offers a year-round, one-stop-shop to manage and track all areas of health, our Omaha office boasts a complimentary state-of-the-art onsite fitness center, and a robust wellness program.

Benefits, Perks and more! We offer retirement and savings plan with immediate enrollment with 100% employer match up to 5%, Medical, Dental and Vision for regular, full-time employees and eligible dependents, a dedicated Learning & Development program for employees to grow personally and professionally, 100% upfront Educational Reimbursement program, subsidized downtown parking, competitive time off policies including parental leave, an Employee Assistance program and much more!