As a Senior Underwriter, under management guidance, you would be responsible for underwriting individual life insurance applications within approval authority and other guidelines set by the company. This position will provide departmental training and answer complex questions from Underwriting staff.
As an Underwriting Consultant, you would be responsible for efficient and quality risk evaluation of traditional and informal underwriting cases, which many will involve complex medical and/or financial histories. Build and maintain positive relationships with the field force, including brokerage agencies. This position will also work closely with the Underwriting staff to assist with processing support, mentoring, co-signs and additional projects as needed.
This position will have the opportunity to work primarily remote with periodic time required in their assigned Company office location (Binghamton, NY or Houston, TX). If you reside in the Greater Houston or Greater Binghamton area, this may be an opportunity for you!Description of Duties and Responsibilities of a Senior Underwriter:- Review individual and joint applications for life insurance.
- Review non-routine cases and cases above approval authority with Chief Underwriter or department management.
- Engage in frequent phone and email contact with sales force, regional VPs, and reinsurers in support of company mortality, profitability and sales objectives.
- Use critical thinking and advanced knowledge of impaired risk, comorbidities, expected mortality and varied brokerage distribution channels to resolve questions and underwrite complex, unique cases.
- Review financial appropriateness of sales.
- Review and interpret third party data including, but not limited to, Medical Information Bureau codes, motor vehicle records, pharmacy and medical claims reports checks, laboratory database reports, inspection and financial reports, avocation and aviation risks, and foreign travel/national activity.
- Review exams, lab work, inspection reports, medical tests, and attending physician statements to assess risk using published reinsurance underwriting guidelines.
- Assign Medical Information Bureau codes as indicated.
- Develop and conduct underwriting presentations for Senior Management, Claims Examiners, Field, Home Office, brokerage distributors, and other parties. Answer questions, provide support, and offer resources as necessary.
- Review Underwriter case queue weekly and report to department management.
- Manage case inventory within time standards established by department management.
- Develop and maintain professional relationships and manage negotiations with Reinsurers and brokerage agencies.
- Engage in phone and email contact with Reinsurers regarding resolution of questions on potential cases.
- Underwrite cases in an efficient, sound, objective, and consistent manner with consideration for the Company's philosophies, profitability, mortality expectations, and marketplace needs.
- Handle more complex processing issues, provide processing support and assist with training.
- Assist with special projects as needed or assigned by management
Additional Duties and Responsibilities of an Underwriting Consultant:- Demonstrate a mastery of the Company's product portfolio, implementation and enrollment processes, and marketplace influences.
- Conduct high-quality risk assessments on all cases to ensure business guidelines, target profit and metrics are met.
- Participate in the development and/or delivery of underwriting and product training material.
- Participate in and review internal audit. Identify opportunities for improvement to address underwriting quality gaps.
- Act as a technical resource for the Underwriters and provide developmental feedback on case level decisions within the context of a mentoring relationship.
- Analyze competitive market intelligence to identify trends. Provide guidance regarding the business unit's performance, financial results, profitability, competition, and market trends.
- Provide ongoing support to both internal and external customers. Engage in communication with field associates, internal staff, and vendors in support of Company mortality, profitability, and sales objectives.
- Monitor case queue of supervised Underwriter Trainees.
Required skills and experience of a Senior Underwriter:- Minimum of 6 years of related experience is required.
- Leadership and training experience in an underwriting environment is required.
- Advanced knowledge of impaired risk, older age underwriting and comorbidities required.
- Training experience in an underwriting environment is required.
- Excellent verbal and written communication skills while working with different levels of both internal and external stakeholders.
- Demonstrated ability to handle sensitive and difficult customer service situations is required.
- Knowledge of company and industry products and procedures preferred.
- Chartered Life Underwriter (CLU) and industry involvement through participation (board member, program committee, or past president) in a local, regional, or national underwriting association is preferred.
- Intermediate proficiency with Microsoft Word and Excel required.
- Fellow Life Management Institute (FLMI) and Fellow, Academy of Life Underwriting (FALU) are both required.
- Ability to work on a team and independently.
- Ability to adhere to timelines and schedules without sacrificing quality.
- Ability to pay attention to detail and perform work reliably, accurately, and thoroughly.
- Ability to work outside of normal business hours to meet project deadlines.
- Ability to adapt to change and work under pressure.
- Ability to pay close attention to detail.
Additional required skills and experience of an Underwriting Consultant:- Minimum of 7 years of related experience is required.
- Ability to travel up to 9% of the time.
Education Required: Bachelor's degree in a related field of study is required. Bachelor's degree in medical or financial fields is strongly preferred.
Pay Range for Senior Underwriter: $77,000 to $103,000 annually
Pay Range for Underwriting Consultant: $88,000 to $122,000 annually
The starting pay rate for this role is based on a variety of relevant factors, including location, education, experience, and skills.Visa sponsorship is not available for this position
Relocation assistance is not available for this position
