Group Underwriter I​/II​/III​/IV

Job Description

The Large Group Underwriter is responsible for determining acceptability of insurance risks and appropriate premium rates for large and complex group cases as well as managing the experience rated block of business to produce desired MLR and profit targets. This role develops both new business rate proposals and renewal rates utilizing claim, premium and enrollment information available and interacts with company sales representatives and consultants regarding rate and trend explanations and rate negotiations.

This position will propose and assist in the development of process improvements such as: assisting in the design, monitoring, and updating of the quoting process in conjunction with actuarial and sales; utilizing system and software applications to full potential.

• Calculates renewal rates using appropriate rating formulas and procedures and analyzes projected financial impacts. Validates the final renewal rates and associated packaging is correct and ensures quality in rate releases.
• Creates quotes for prospective & existing customers using demographic characteristics and/or claims experience. Analyzes participation levels, contribution methodology, industry classification and other carrier information available. Performs applicable review of any necessary regulatory documentation. Applies knowledge of national and local competitive information to underwriting decisions. Facilitates the negotiation of final rates and or applicable administrative costs with enrolled and prospective customers.
• Evaluates benefit plan variations and partners with Sales in working directly with customer accounts, their brokers and consultants, in support of rate negotiations on new or renewal business.
• Partners with Sales in meeting persistency goals related to existing employer group business.
• Prepares documents for and facilitate discussions on executive rate reviews involving multiple levels of internal leadership and impacted business segments.
• Consults and coordinates with the Sales and Marketing Departments in support of specific group requirements through preparation of complex group reports and enforcement of product policies.
• Executes financial management on an assigned book of business.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies’ mission and values, adhering to the Corporate Code of Conduct, and leading to the Lifetime Way values and beliefs.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Regular and reliable attendance is expected and required.
• Performs other functions as assigned by management.

• Completes new business and renewal quotes for mid-segment and large accounts for dental and medical lines of business in all insured and/or claims based billed financial arrangements.
• Prepares settlements for alternatively funded groups (e.g., retrospectively rated, contingent premium, or Minimum Premium).
• Creates and maintain Experience Rated Monitoring and Book-of-Business tracking reports.
• Provides consultative analysis related to how Excellus products and discounts add value. Attends and contributes to meetings with internal and external stakeholders.
• Develops ad hoc reports as a supplement to the group underwriting process through query building and data extraction.
• May develop required premium/fees and analyze results for accuracy; makes appropriate decisions on how to proceed; analyzes inputs/outputs for reasonability.
• Proposes and/or assists in the development of process improvements utilizing system and software applications, such as Power BI, to full potential.
• Participates in cross training of Underwriting and Sales staff.
• Coordinates with other departments to ensure accuracy and consistency of overall account reporting.
• Understands, protects, and educates on the financial health of the company by making sound business recommendations and making policy exceptions when appropriate.

• Interacts with internal and external sales representatives, accounts and consultants regarding rate and trend explanations and rate negotiations.
• Proposes and assists in development of process improvements and automation of processes within the Underwriting Team.
• Assists in ad hoc projects in support of the Sales, Marketing, and Actuarial Department initiatives.
• Interacts with internal sales representatives and consultants regarding rate and trend explanations and rate negotiations. Explains the components of rate changes to internal and external stakeholders.
• Represents department and/or division as a Subject Matter Expert for various technical/system/ training issues on cross functional work groups. Communicates updates to leadership and recommends approaches for implementing change.
• Provides training and mentoring to other members of the Underwriting department including review and approval of case work, systems, department processes, implementation of new policies and…