Position Id
Toronto ON
Job Type
Contract Full-Time

Our client is a top financial institution with significant North American holdings. They have operations across most major verticals, including institutional & corporate, wealth management, private client, commercial banking, treasury, and retail banking.

Position Overview

The Bilingual New Business Associate is accountable to provide excellent customer service by processing all aspects of life insurance applications for both Advisor and Direct to Consumer channels, from case set-up to policy contract issue and settlement, within established service standards. Producing high quality work is essential to this position/ This position is the first line of customer service for the company. The incumbent must display a strong sense of professionalism as well as superior customer service skills to ensure the best possible experience for our clients. The candidate must be fully bilingual in English and French.

What you will achieve in this role:

Customer Service

  • Process life insurance applications for both Advisor and Direct to Consumer channels in an efficient manner to meet service level standards for New Business
  • Issue and settle policy contracts in an efficient manner to meet service and quality level standards
  • Address customer services issues according to established parameters, escalating as required to the Manager, New Business for resolution. Demonstrate sound judgement in the handling of customer interactions and appropriate escalation to management
  • Understand and follow established policies and procedures in the processing of new business applications, issuing and settling of policy contracts
  • Exhibit a strong sense of broker partnership and commitment to service, and carry out functions with an extremely high sense of urgency
  • Investigate and resolve inquiries from the field and other team members related to specific cases
  • Collaborate with Underwriting and Underwriting Support staff to exchange information and facilitate an efficient decision by the underwriter
  • Effectively communicate with field representatives to obtain any outstanding requirements
  • Provide accurate and professional service to MGAs, advisors and policyholders by telephone, mail or e-mail including, but not limited to, the following activities:
  • Answering advisor inquiries to provide accurate information about Life Assurance applications
  • Run policy illustrations to verify premium calculations are correct
  • Liaise with internal departments to ensure the accurate and timely exchange of information
  • Performing simple and complex New Business administrative tasks, as required for the processing of insurance applications
  • Managing time sensitive financial transactions which requires understanding of market timing and the impact of backdating
  • Understanding the impact of the movement of money within the organization as it relates to GAAP and AML guidelines to meet OSFI audit requirements

Risk Management

  • Adhere to all aspects of First Principles our code of Business Conduct and Ethics including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities
  • Accuracy and timeliness of the work completed by this role is critical to Life Insurance’s reputational risk

Scope and Impact

  • Role is responsible for issuing Life Assurance contracts. Accuracy and timeliness is of utmost importance and directly impacts the organizations reputation and continued sales.
  • Submit new applications within 24hrs of receipt; 2% error tolerance
  • Issue contracts within 24hrs of underwriting decision; 2% error tolerance
  • Submit for set-up, issue and settle ~200 – 300 applications per month; within 2% error tolerance
  • Monitor emails and respond within 24hrs
  • Process Closures within 36hrs
  • Involved in peer quality checking to ensure correctness

What you will bring to this role:

  • 1-2 years’ experience in Life Insurance; New Business or Customer Service area preferred
  • Working knowledge of life insurance products, particularly Universal Life, Traditional Life and Critical Illness product features, and channels
  • In-depth knowledge of all systems used to administer cases an asset; including INGENIUM, WinRisk, CAPS-I-L, NUMS, Work Management and Digital Library FileNet

We thank you for your interest in the position, however, only those who are qualified will be contacted

Inclusion and Equal Opportunity Employment

Our client is an equal opportunity employer committed to diversity and inclusion; creating an inclusive environment where all team members and clients feel like they belong. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, Aboriginal/Native American status or any other legally-protected factors. We seek applicants with a wide range of abilities, and we provide an accessible candidate experience; accommodations during the application process are available upon request.