Medical Underwriting Analyst

Associated Bank Minnetonka , MN 55345

Posted 5 months ago

Associated Benefits and Risk Consulting is growing and we are looking to add an Medical Underwriting Analyst to our Minnetonka team.

Associated Benefits and Risk Consulting is a premier employee benefits, business insurance and HR consulting agency based in Minnesota, Wisconsin and Illinois. We are known for our high energy, innovation and commitment to our clients and each other. Plus, our employees made us one of the best places to work in the Midwest!


  • Competitive Compensation, 401K, Employee Stock Ownership Plan and Pension Plan

  • Comprehensive benefit package, banking benefits and wellness programs

  • Great training and onboarding along with personal & professional development

  • Leading edge technology, comprehensive tools and resources to assist you including top tier access to a wide variety of insurance carriers from regional to global

  • HR Solutions clients have direct access to HR Consultants and services

  • Partnership with Associated Bank provides a competitive edge we have the ability to service our client's total financial needs.

  • Community involvement/volunteer opportunities highly supported. Networking opportunities with Company Resource Groups.

Job Summary

The Medical Underwriting Analyst has a comprehensive understanding of all employee benefit programs. This includes understanding product details, financial aspects, and service requirements of all employee benefit programs. The Medical Underwriting Analyst is responsible for ensuring that all other members of the employee benefits service team are well informed of programs, products and services so that when interfacing with clients and prospects the correct information is provided in a consistent format. The Medical Underwriting Analyst is responsible for putting together quotes and proposals for employee benefit plans for prospects and clients and also have the ability to present proposals on an as needed basis. They team with the sales force in the design of these benefit programs for each client or prospect and will often provide advice or direction. In doing so, they work with key benefit providers to understand the value differentiators of programs, products and services so they are matched to the unique needs of the client or prospect. A key part of the job is being a consultant to the sales staff on determining the best benefit options.

Job Accountabilities

  • Markets all lines of group including medical, dental, life, and disability, long term care products and Section 125 products this includes understanding the sub specialties of each line which includes self-funded medical & dental and enhanced/complex disability cases. Analyzes and compares quotes received. Prepares accurate spreadsheets and proposals for presentation

  • Conducts research for out-of-state clients or other hard to place accounts. Works with carriers around the country to learn the state laws and plan designs that are most common. Consults with the sales consultant and/or account executive on the best options for the client and then obtains all of the necessary licensing and paperwork to enroll the group.

  • Become the resident expert on certain products/demographics within the benefit arena. Be able to provide technical assistance to account executives, account managers and sales consultants . Must be able to demonstrate abilities such as completion studies for self-funded clients and rate conversion calculation i.e. two tier to three tier to four tier.

  • Services as the expert resource for the Sales/Service Team by maintaining awareness of market trends, available plan options, carrier participation requirements, and any new products changes. Ensure from a liability standpoint that the agency is protected by quoting the proper contracts and coverages. Extensive contract expertise is required to perform this.

  • Assist Sales/Service team determine strategies for the marketing and placement of accounts which may include plan design and alternate funding options.

  • Provides the majority of the hands-on-training for new analysts, including new sales/service team members. Acts as a mentor to the other analysts and contributes to their personal development by training them on position methods and procedures.

  • Negotiates rates with carriers as needed and/or requested by Consultants.

  • Vendor/Carrier Relationship: Builds and maintains good working relationships with our carrier partners, Active contributor to the Preferred Vendor Program, Maintains carrier reference materials, Conducts extensive research on new products and services and reports the findings to the Sales/Service Team Members. Updates the intranet on a regular basis to ensure the BIAs/BCs and account managers always have to most up-to-date and accurate information, Maintains knowledge of vendor products by planning, scheduling and attending vendor presentations.

  • Attends prospect/client appointments with the sales consultants, as needed. -Documents the client's needs and concerns on their current benefit package, Consults with the sales consultants and client on what the renewal "game-plan" should be, Markets the desired benefits and plan designs discussed at the meeting. When necessary, take the lead on presenting materials to the client in brokers absence or if expertise gap exists.

  • Assist the manager in processes and efficiencies for the department and other tasks as assigned

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Medical Underwriting Analyst

Associated Bank