Medical Underwriter

Job Summary

The Underwriter will be responsible for risk assessment and decision-making on new business and renewal opportunities for all case sizes. This individual will work closely with the Distribution team to sell new business and maintain existing business, keeping the Company’s financial objectives in mind. The senior underwriter will also collaborate with other departments and vendor partners with underwriting-related issues and applicable best practices.

Location: Remote

Key duties and responsibilities…

• Evaluates risk and underwrites Small Group / Level Funded Medical products under the pricing and underwriting guidelines established by ABA.  Analyses data, evaluates characteristics of reinsurance arrangements, applies relevant experience, and considers use of manual rates using ABA rating manual and underwriting systems.  Ensures that ABA can administer the client’s proposed (re)insurance.
• Develop premium rates and policy / treaty terms to offer in response to request for quote.
• Negotiate and interact with distributors, clients and potential clients with respect to premium rates and terms.
• Contributes to ABA profitability by analyzing and assessing client profitability through experience and expense analysis and attention to assigned account performance.
• Respond to request for quotes within the timeframes requested or work with distributor on a revised deadline.
• Work with Client Services Representatives to manage quote log and Sales Force data entry and integrity.
• Review disclosure submissions, including the Medical Management team as necessary, and provide a final binding quote to the client.
• When an account is sold, this position is responsible for notifying the appropriate Group Health team members and providing the final proposal to the Contract Writer and client / distributor.
• Participate in development of workflow processes.
• Participate in ongoing strategic planning and analysis of market trends and new product features.
• Implement strategies to achieve medical reinsurance revenue, earnings and operational goals.
• Participate with underwriting team to develop renewal strategies to meet ABA profit goals.
• Participate in product development of innovative new products and features, adding value to the market.
• Adhere to pricing expense and profit targets as defined by the actuarial team.
• May perform other duties as required

Required experience and competencies

• Experience
  1. Strong knowledge of Small Group / Level Funded Medical products. Excellent oral and written communication skills. Proficient with Microsoft Excel and Word.
  2. Bachelor's degree in business, management, finance or related area or equivalent work experience. 3 years underwriting experience in Group Employee Benefits.
  3. Basic negotiation and persuasion skills when working to present quotes or resolve issues.
  4. Demonstrated ability to build and maintain relationships both external and internal.
  5. Ability to adapt to change routinely and support the goals of the underwriting unit and the company through teamwork and additional hours as required.
• Personal
  1. Technical / Professional Knowledge - Having achieved a satisfactory level of technical and professional skill or knowledge in position-related areas; keeping up with current developments and trends in areas of expertise.
  2. Customer Focus - Making distributors / customers and their needs a primary focus of one's actions; developing and sustaining productive relationships.
  3. Attention to Detail:  Detail-oriented, analytical and accurate.
  4. Work Standards - Setting high standards of performance for self and others; assuming responsibility and accountability for successfully completing assignments or tasks; self-imposing standards of excellence rather than having standards imposed.
  5. Communication - Excellent oral and written communication skills clearly conveying information and ideas through a variety of media to individuals or groups in a manner that engages the audience and helps them understand and retain the message.
  6. Presentation Skills:  Strong oral, written and presentation skills.  Ability to translate technical concepts to non-technical audiences.  Ability to work directly with senior management as well as distributors.
  7. Building Strategic Work Relationships - Developing and using collaborative relationships to facilitate the accomplishment of work goals.  Ability to work effectively with all levels within ABA
  8. Planning and Organizing - Establishing courses of action for self and others to ensure that work is completed efficiently.
  9. Follow-Up - Monitoring the results of delegations, assignments, or projects, considering the skills, knowledge, and experience of the assigned individual and the characteristics of the assignment or project.
  10. Engagement Readiness - Demonstrating a willingness to commit to one's work and to invest one's time, talent, and best efforts in accomplishing organizational goals.
  11. English Required