Product overview / Project overview (filled by Hiring Manager for FTE openings only) OFSS BPO is seeking candidates with a minimum of 6 months and up to 3 years of work experience to support back-office processes for the Insurance Division of its U.S. banking client.  Candidates with experience in forced lender-placed insurance (LPI), loan servicing, insurance processes, loan administration, or related fields are preferred. Candidates with experience in financial services are also encouraged to apply. Pre-Requisites (filled by Hiring manager) Education

Preferably a Commerce Graduate – B. Com (H) and (P); BBA, BCA, Economics Graduates can also apply.

 

Engineering Graduates & candidates from IT background not eligible.

Soft / Behavioral Skills Good Communication skills / Comprehension skills Good Listening skills Eagerness to Learn and Improve  Open to work in Night shifts / Indian Holidays Team Player Total Experience Min:    Yrs.    0.5                   Max:         Yrs. 3 Yrs Relevant Experience Min:    Yrs.    0.5                   Max:         Yrs. 3 Yrs Primary ( Essential ) Technical / Functional / Managerial Skills : Proficiency in MS Office, IT support applications and other BPO related applications Good Typing skills with high Accuracy levels (30-35 words per minute, Accuracy of 90-95%) Good Analytical Skills / Problem Solving skills Good Decision-making skills  Flexible with shift timings Special Requirements A minimum of six months to one year of experience in a financial services project, preferably in the loan servicing or insurance domain. Experience in forced lender-placed insurance (LPI) or insurance-related processes will be an added advantage. Must be willing to work night/rotational shifts. No leave required for the next 3 months. Not pursuing any course, degree, or diploma that may interfere with work or cause shift issues.

Forced Lender-Placed Insurance (LPI) Reviewer

 

 

Proposed Opportunity (Filled by Hiring Manager) Role  Associate 1 Responsibilities / Job Tasks Perform data entry across various platforms for accurate tracking and processing. Monitor the borrower’s hazard insurance status to ensure active coverage meets lender requirements. Track insurance expirations, lapses, or changes, and notify borrowers promptly. Oversee escrow and non-escrow accounts to ensure insurance premiums are paid on time. Assess when Forced Lender Placed Insurance (LPI) is required due to insufficient, canceled, or non-renewed borrower insurance. Ensure LPI coverage aligns with mortgage contract requirements, including coverage amounts, flood insurance, and hazard insurance. Facilitate premium payments to the insurance company via borrower escrow or lender account as necessary. Adjust borrower escrow accounts for LPI costs and address any discrepancies. Ensure accurate billing statements are sent to borrowers, detailing coverage and premium information. Monitor policy renewals, adjusting coverage and premiums as required, and identify the necessary insurance type. Communicate renewal notices to borrowers and inform them of any changes to their insurance coverage. Cancel or replace LPI once the borrower provides proof of insurance and process any premium refunds as required. Facilitate the insurance claims process in the event of a loss, ensuring efficient processing of claims. Maintain thorough documentation of insurance claims, including status updates and outcomes. Ensure that insurer payments are applied to the loan balances in a timely manner. Maintain and update the Daily Production sheet to track progress and performance.

 

 

 

 

Career Level - IC1