Job Responsibilities and Requirements- Independently evaluates and synthesizes information in order to accept, modify, or reject risks of a complex nature. Provides direction and guidance to less experienced underwriters through the evaluation process to synthesize information in order to make a decision to accept, modify or reject the risk.
- Book of business and new business quote activity is comprised primarily of LCC (LARGE CASE COMMITTEE) and IEB (INTEGRATED EMPLOYEE BENEFITS) level cases.
- Reviews and evaluates all assigned risks that includes plan design and experience review, and provides guidance to sales and service and all internal business partners to prospectively price and renew all business lines.
- Has significant expertise and understanding of our manual rating approach, including base rates and factors that drive claims cost changes. Able to identify gaps and challenge assumptions in proposal/renewal strategy and works through those to submit a final position.
- Expert in experience rating methodology, reserve calculations, and the impact of reinsurance on required pricing. Consistently able to identify factors that contribute to aggressive or conservative formula rates and utilizes them in case evaluation decision making process resulting in an overall position.
- Evaluate inforce business to help generate cross sell, enrollment, plan design changes and other NBOC (New Business Old Case) opportunities.
- Through analysis and evaluation, recommends a case position to senior leadership at LCC (LARGE CASE COMMITTEE) meetings in a simple, effective communication style that conveys/responds to complex topics effectively to senior leadership.
- Partners with sales and national account management with underwriting and product information with a view to overall business enhancement.
- Evaluates and makes risk decisions are made with a complete understanding of the client and with a portfolio mindset.
- Risk positions are presented to highlight a balanced approach to both internal and external focus - internal focus is demonstrated by providing detailed renewal positions and packages that can be used by the sales team for client presentations that have been prepared demonstrating the understanding of the external customer. This allows for risk decisions to be easily translated and presented to producers.
- After evaluation of the cases, provides sales partners information, which is included in client presentations and finalist meetings to result in a favorable outcome for RSL.
- Partners with colleagues on complex cases requiring multiple stakeholder input and agreement to reach decisions favorable for RSL, with the final position being with the National Account Underwriter.
- Demonstrates a strong understanding of IEB (Integrated Employee Benefits) and utilizes knowledge in case evaluation.
- Leads underwriting departmental/cross-functional RSL initiatives directly linked to delivering on RSL strategic priorities. (Typically 25% of time)
- Identifies, communicates, and implements process improvements that reduce workloads or improve quality.
- Mentors less experienced underwriters.
Required Knowledge, Skills, Abilities and/or Related Experience- Bachelor's Degree or equivalent education and relevant experience.
- Seven to ten years relevant underwriting experience, preferably with National Accounts.
- Thorough knowledge of group underwriting principles and practices on all lines of coverage.
- Capacity to effectively communicate both orally and in writing.
- Ability to make underwriting decisions concerning the acceptability of Group Risks.
- Strong mathematical and analytical skills.
- Excellent organizational skills with the ability to perform detailed and diversified duties including prioritization of high volume/deadline workload.
- High level of customer service orientation.
- Strong understanding of predictive analytics and alternative rating information, which is utilized in evaluation of cases.
- Mastery of negotiation skills with internal and external customers.
- Mastery of project management skills.
- Proficient understanding of excel, power point and other Microsoft Office applications.
- Travel to Sales Offices as required.
Ability to Travel: Up to 10%
The expected hiring range for this position is $90,270.00 - $120,500.00 annually for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate's starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future.
Work location may be flexible if approved by the Company.
