WHAT DOES AN INSURANCE ASSOCIATE DO?

Published: Sep 26, 2025 - The Insurance Associate supports clients transitioning from group benefits by providing guidance on life, critical illness, and health and dental coverage, while introducing them to specialized advisors for tailored financial advice. This role ensures accurate tracking of client interactions, manages contact priorities, and contributes to the improvement of services and client experience through feedback and recommendations. The associate also promotes a collaborative work environment that values creativity, learning, accountability, and engagement.

A Review of Professional Skills and Functions for Insurance Associate

1. Insurance Associate Duties

  • Process Management: Process owner for full-suite insurance purchase (new and renewal) including proposal drafting
  • Data Validation: Input and validate motor vehicle information obtained from various sources as part of the backend processing
  • Payment Scheduling: Manage insurance premium payment scheduling and online portal administration
  • Issue Resolution: Liaise with insurance partners to resolve issues about claims and policy wordings that may arise
  • Policy Updates: Keep abreast with the latest insurance developments/products and advice on policy updates
  • Process Improvement: Lead continuous process improvement initiatives to streamline insurance backend processing
  • Trend Analysis: Perform analysis on insurance purchase trends and produce reports
  • Document Management: Manage the insurance repository and ensure all documents are in order

2. Insurance Associate Details

  • Client Outreach: Proactively contact Group Benefits clients who are leaving their employer plans
  • Transition Guidance: Provide information concerning transitioning out of their group insurance plans on life, critical illness and health and dental insurance
  • Coverage Information: Provide information concerning individual insurance coverages and other features
  • Advisor Referral: Introduce clients to a Sun Life Financial Service Consultant to assist with life, critical illness and health and dental insurance
  • Financial Referral: Introduce clients to a Sun Life Advisor to assist with an identified need for holistic financial advice
  • Record Management: Ensure current and potential clients’ interactions and inquiries are accurately logged in the Sales Pipeline management system
  • Priority Monitoring: Monitor and action the daily contact priority list
  • Service Improvement: Contribute to the Client Solutions Centre’s ongoing success by providing suggestions and recommendations
  • Client Experience: Help improve clients’ experience and the products and services offered by sharing insights gained by dealing directly with clients
  • Workplace Engagement: Foster and participate in a work environment that values people, invites creativity, celebrates learning and accountability and encourages employee participation and engagement

3. Tax and Insurance Associate Responsibilities

  • Policy Renewal: Obtain insurance policy renewal information from borrowers and or agents before the expiration date of current policies
  • Compliance Review: Review policy for compliance with loan documents/investor and lender requirements
  • Information Requests: Make timely requests for additional information and corrective measures
  • Risk Assessment: Conduct a risk assessment and evaluate potential hazard exposures relating to the specific collateral by reviewing property and underwriting-related materials such as appraisals, zoning reports, needs assessments, and proformas
  • Invoice Processing: Obtain insurance premium invoices and facilitate payment of such invoices from escrow
  • Escrow Management: Work with borrowers to address and collect insurance escrow shortages
  • Payment Monitoring: Monitor the payment of premium invoices and obtain proof of payment from borrowers on loans where insurance escrow is not held
  • Inquiry Handling: Handle insurance questions as they are received
  • Claim Support: Provide claim support to borrowers and Asset Management Staff
  • Loan Conversion: Set escrow collection for construction loans converting to permanent coverage

4. Tax and Insurance Associate Job Summary

  • Waiver Submission: Work with the Director to submit Insurance Waivers to the Investor when such waivers are appropriate
  • Document Preparation: Efficiently use Word and Excel for daily typing of correspondence, documents/forms, presentations, spreadsheets, proposals, and other transaction-related projects
  • System Utilization: Utilize the McCracken STRATEGY Servicing System and other software applications to facilitate insurance reviews
  • Record Updating: Accurately update insurance records in Strategy, i.e., insurance agent vendor record, insurance evidence trailers, premium due dates, and produce timely reports reflecting the status of the processing effort
  • Premium Processing: Effect timely payment of premiums and data updates from proof of borrower payment to avoid policy cancellation
  • File Management: Set up new or converted loan files, migrate pertinent information to insurance files, tax files, and correspondence files by performing all necessary filing activities in a timely and accurate manner
  • Escrow Coordination: Coordinate with colleagues to ensure accuracy of escrow analyses
  • Quality Assessment: Participate in internal and external quality control and audit assessments, providing prompt and accurate responses to inquiries made
  • Issue Resolution: Take immediate action to correct or resolve issues as they are made known
  • Team Collaboration: Work professionally and harmoniously with the team and coworkers

5. Insurance Associate Accountabilities

  • Deposit Retrieval: Retrieve electronic deposit information from Online Bank Account Daily Activity reports
  • Cash Posting: Posting of all cash receipts for multiple bank accounts in the Broker Management system daily
  • Commission Posting: Posting commissions in Brokerage Management system(s) at policy and insured level
  • Account Reconciliation: Reconcile cash accounts daily to make sure that all items are accounted for and the month-end bank reconciliation is complete
  • Journal Entries: Prepare and process journal entries in the Brokerage Management system(s) and GL system(s)
  • Month-End Closing: Assist in the Month-end closing process and running of reports for all BMS and GL systems(s)
  • Report Distribution: Run and distribute the month-end and ad-hoc reports
  • Exception Handling: Follow up with the Client Service team for any exception payments and post accordingly
  • Issue Resolution: Partner with the accounting and client service team to quickly bring issues to their attention, working to understand the root cause and offering potential solutions
  • Cash Research: Research and resolve unapplied cash in suspense and cash on account at the client level
  • Item Escalation: Escalate unresolved items to the supervisor per the pre-determined aging timeline