Reviews and evaluates all assigned large and complex cases as required by superiors. Accepts, modifies or rejects risks of a complex nature. Determines coverage amounts, premium rates and experience rates on prospective risks, new business applications, amendments to in-force plans and renewals exercising independent judgment consistent with established Company, department and supervisory guidelines, manuals and rules. Interacts with all departments.
Duties and Responsibilities:
Within the delegated underwriting authority (insured business greater than 2,000 lives), independently performs various underwriting functions associated with quoting new business and managing an inforce block. This includes reviewing experience and plans from other insurance carriers to develop adequate premium rates that are in line with established company Underwriting Guidelines and Manuals. This also includes managing an inforce block of business and reviewing requests for amendments to in-force plans as part of developing sound renewal decisions in accordance with established Group Underwriting Manuals and guidelines. Seeks assistance of superiors when warranted due to the nature of a particular risk.
Independently exercises judgment based on the evaluation of collected data for acceptance, modification, or rejection of group underwriting requests on risks within the delegated underwriting authority.
Prepares/presents financial (underwriting) packages including Large Case Committee packages, based on scenario, be it a request for proposal for new business, a renewal on an inforce piece of business or any other adhoc requests.
Fully underwrites primarily National Account sized risks and adequately presents to senior management in accordance with department and company protocol.
Develops appropriate strategies based on holistic views of cases, taking into account factors such as broker relationship, carrier history, financial stability (the use of Hoovers and other media), employer return to work culture, etc.
Negotiates with RSO personnel, brokers, re-insurers and clients to balance the needs of the RSO within the guidelines of the Group Underwriting department.
Maintains accurate and adequate file documentation of all underwriting decisions, forms, or correspondence as determined by Company policy or supervisory discretion.
Assists management in the overall development and training of lower level personnel.
Assists in coordinating information between all operational areas of the Company for the purpose of installing and/or maintaining a successful Group Insurance Program.
Documents and clearly articulates key concepts, ideas and decisions to others, including well prepared and clear presentations to management, the field and customers (as required), well written, clear and concise emails and Analysis Memos.
Leverages additional resources around key cases in order to facilitate better risk management, stimulate innovative thinking and provide creative solutions and potentially different perspectives.
Presents complex cases to the LCC on an as needed basis. Prepare presentation materials, explain pricing rationale, and document agreed on parameters.
Presents to brokers, clients and consultants on an as needed basis.
Assists in the training of less experience Underwriters.
Helps to train new sales and service reps via classroom instruction on Underwriting theory and logic.
Assumes additional responsibilities as needed.
Education, Qualifications and 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.
Ability to research and solve problems independently with good presentation skills.
Knowledge of personal computer required including Word, Excel, Windows, and e-mail.
Travel to Sales Offices as required.