Base: $70K to $90K
The company is currently looking to fill the position of Employee Benefits Underwriter who will be a great addition to the Underwriting team. The Underwriter is responsible for creating and delivering new business quotes to prospective clients and renewal proposals to existing clients. The Underwriter works in association with the Sales Team and Account Executives to ensure excellence in delivery to their client, prospective clients, and broker partners. The Underwriter also works closely with their Pharmacy Consulting division to provide quotes for new and renewal business for prescription drug plans.
Responsibilities
- Basic underwriting skills to compare benefit plans and rates
- Gains and maintains a working knowledge of alternative funding arrangements, specifically self-funding, as related to group health plans
- Reviews and scrubs data submitted for new business quoting ensuring all required documentation has been received and set-up for processing
- Follows up with broker partners for information and data requests
- Creates RFPs for new and renewal business
- Communicates with vendor partners to secure best price for clients and prospects
- Analyzes quotes for appropriateness and questions vendors on inadequate responses
- Creates client-ready proposals for both new business and renewals
- Works closely with Sales and/or Account Executive to provide a proposal that best represents the Producer’s strategy with that account
- May prepare reports as requested by Account Executive or Sales Team
- Keep track of the day-to-day process in Salesforce for each account while ensuring that all tasks are completed on or before scheduled deadlines
Requirements & Experience
- 2+ years’ experience with employee benefits either with an insurance carrier or broker/consultant
- Strong analytical and mathematical skills
- Strong problem-solving skills involving multiple variables in standard situations
- Extremely detail oriented with a demonstrated ability to meet deadlines with error-free work
- Ability to prioritize and handle multiple tasks in a demanding, fast-paced work environment
- Experience with self-funded health plans and working knowledge of terms, contracts and how self-funding is different from the insured market
- Working knowledge of stop loss insurance, terms, and contracts
- A conscientious team player who can also work independently when required
- Intermediate knowledge of MS Office products (Word, Excel, PowerPoint, Outlook, Teams), a basic knowledge of Adobe Acrobat, and a willingness to learn new technology
- Bachelor’s degree required, with a preference towards degrees in Risk Management & Insurance, Finance, Mathematics or Actuarial Science
- Current Health & Life license or ability to earn one within 90 days of hire
