Description:
We are currently seeking applicants for a Sr. Medical Underwriter role. This position is responsible for supporting underwriting and rate development for excess medical (medical stop loss) and maintenance of the group life, accident, and ancillary products. Responsibilities include facultative reviews of program business, MGU audits and assistance with program management.
Your Tasks
Underwriting
- Provides underwriting expertise and support on all products including group life, accident, and ancillary products in order to increase block of business and profits.
- Underwrites and prices new business and renewal Medical Stop Loss opportunities to ensure quote accuracy.
- Expand Underwriting responsibilities to assist in pricing and underwriting for other lines of business including ACO’s.
- Produces write-ups with summary, pricing and projections for each quote
- Communicates proactively with brokers and clients to gain clarity on program.
- Executes indications and quotes after receiving approval from VP and AVP Actuaries on pricing of opportunity.
- Hire, train, and manage an intern/temporary worker to assist the NY office with work as well as grow their knowledge of the industry
In-Force Program Management
- Monitors financial results for the Health Solutions by treaty to measure profitability and determine renewal action.
- Review, underwrite, and follow up on facultative cases to assess client compliance with underwriting guidelines in order to ensure profitable underwriting
- Conducts underwriting audits, propose underwriting updates/changes, and works directly with client underwriting teams on Medical Stop Loss programs to assess controls and areas for improvement
- Lead initiatives, advise, or collaborate with internal team to implement process changes/efficiencies.
Marketing
- Travel to Client and Business Partner facilities to host and/or discuss renewal and program update meetings
- Travel to Business Conferences to represent Hannover and meet with current clients and business partners as well as prospect for future business ventures
- Maintain availability to discuss timely questions or concerns about case level or overall relationship topics with clients and brokers.
Documentation and Compliance
- Adheres to Global and Specific Underwriting Guidelines to confirm compliance.
- Obtains necessary internal approvals on quotes to ensure accuracy and compliance.
- Maintains electronic filings in Marketing Library to support documentation.
- Relays information on recently accepted Health Solutions quotes to the accounting, administrative, and corporate actuarial areas to maintain open lines of communications.
Reporting
- Produces ad-hoc reports as requested by team
- Develops tools to assist in analysis of business
- Request and review client reporting to aid internal departments in capturing accurate financials and resolve any reporting differences with the client
- Assist Valuation and other team members with high claim notifications and other reserve concerns to accurately portray results on our quarterly financials
Pricing Assumptions
- Participates in development of underwriting and pricing assumptions allowing the company to compete on a profitable basis in a highly competitive market.
Your Profile
Essential knowledge skills and abilities
- Bachelor’s Degree or equivalent business experience
- 5 or more years of Insurance and/or Reinsurance company
- High level of technical experience in Medical Stop Loss underwriting
- Background in accident & health including stop loss products required with emphasis on medical products
- Intermediate skill level in Microsoft PC software: Excel, Word, Outlook
- Experience working with complicated spreadsheet applications
- Strong organizational and time management skills; ability to manage multiple and changing priorities
- Excellent verbal, written and interpersonal communication and presentation skills
- Self-motivated