Posted: Thursday, January 25, 2018 6:40 AM
New York Life Insurance Company (New York Life or the company) is the largest mutual life insurance company in the United States*. Founded in 1845, New York Life is headquartered in New York City, maintains offices in all fifty states, and owns Seguros Monterrey New York Life in Mexico.
New York Life is one of the most financially strong and highly capitalized insurers in the business. The company reported 2016 operating earnings of 1.954 billion. Total assets under management at year end 2016, with affiliates, totaled 538 billion. As of year:end 2016, New York Lifes surplus was 23.336 billion**. New York Life holds the highest possible financial strength ratings currently awarded to any life insurer from all four of the major ratings agencies: A.M. Best, A++; Fitch AAA; Moodys Aaa; Standard and Poors AA+. (Source: Individual Third Party Ratings Report as of 8/17/16).
Financial strength, integrity and humanity:the values upon which New York Life was founded:have guided the companys decisions and actions for over 170 years.
Reporting to a Team Manager, the Senior Associate is responsible for evaluating life insurance and disability applications and determining whether applications should be approved, declined or if additional information is required. Sr. Associates are authorized to issue or decline all cases within their authority limit.
As the majority of applications reviewed by this role include Attending Physician Statements, a Senior Associate must have a working knowledge of medical terminology and awareness of how various medical impairments interact and effect individual mortality and morbidity risk. Interaction with Third Party Administrator personnel is also often needed.
Responsibilities include, but are not limited to
:Underwrites Life and Disability Income applications
:Life: up to 3 million
:Disability: up to 20,000
:Reviews Contestable Claims for misrepresentation
:Data Entry into Underwriting Tracking System (ARES)
:Understanding of Underwriting Imaging System (FileNet)
:Reviews and Evaluates non:standard applications and supporting documents
:Determines if additional documentation is required and requests additional information as needed
:Decides if applicant is eligible for the plan
:Communicates with company employees and Third Party Administrators regarding underwriting procedures and insurance policies
:Possible travel for Quality Reviews of our outside Underwriting shops
:Bachelors degree preferred
:5+ years of equivalent work experience
:Life Underwriting experience required; training to be provided on Disability Underwriting, if needed
:Knowledge of Medical Underwriting
:Understanding of financial documents, e.g. tax returns
:Excellent verbal and written communication skills
:Data entry skills
:Good interpersonal skills.
:Capable of working independently.
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*Based on revenue as reported by "Fortune 500, ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, June 17, 2016. See fortune/fortune500/ for methodology.
**Total surplus, which includes the Asset Valuation Reserve, is one of the key indicators of the company's long:term financial strength and stability and is presented on a consolidated basis of the company.
1. Operating earnings is the key measure use by management to track Company's profitability from ongoing operations and underlying profitability of the business. This indicator is based on generally accepted accounting principles in the US (GAAP), with certain adjustments Company believes to be appropriate as a measurem
• Location: Hudson Valley
• Post ID: 34908862 hudsonvalley