As a Commercial Underwriter II, you'll calculate new and renewal rates for complex group cases, review proposal data, lead peer reviews, maintain documentation, coordinate with Sales, develop claims reports, track pricing strategies, support client contracts, and maintain stakeholder communication.
Our Client in the Service Industry is seeking a Commercial Underwriter II for their Underwriting Department
Role & Responsibilities:
- Review and assess commercial insurance applications
- Analyze risk factors and determine pricing for insurance policies
- Communicate with brokers and clients to gather necessary information
- Ensure compliance with underwriting guidelines and regulations
- Provide training and guidance to junior underwriters
Key Skills:
- Experience in Medical Underwriting
- Strong analytical and decision-making skills
- Excellent communication and interpersonal abilities
- Attention to detail and accuracy
Daily Activities:
- Utilize templates to determine rates for both new and renewing complex group cases, taking into account factors like historical data, industry type, geographic location, and demographic information.
- Evaluate new business proposals to ensure they are reasonable and accurate.
- Conduct and lead peer reviews to verify the precision and suitability of quotes.
- Oversee the documentation within the underwriting department, including maintaining guidelines, policies, procedures, and training resources.
- Work closely with the Sales team to ensure prompt quote delivery and provide financial consultation for specific client requests.
- Develop and maintain reports on account-level claims experience to review and adjust rates retrospectively, aiming to meet profitability objectives.
- Analyze market and product data to suggest effective pricing strategies to senior management.
- Assist with client contract creation and account setup, ensuring that contract terms match the quoted parameters.
- Foster strong communication channels and relationships with both internal teams and external partners.
- Carry out additional duties as assigned.
Qualiftications:
- Strong analytical abilities with a knack for innovative problem-solving and attention to detail.
- Proficient in translating and effectively communicating financial models and underwriting analysis results.
- Able to manage multiple tasks within tight deadlines.
- Excellent organization and time management capabilities.
Education and Experience
- 1-3 years of experience in underwriting within the commercial healthcare sector (Required).
- Bachelor's degree in fields such as business, finance, risk management, economics, mathematics, statistics, actuarial science, computer science, or a related discipline.
- Proficient in using Excel and Google Sheets.
- Experience in the insurance industry, data analysis, or data management is a plus.
- Familiarity with SQL queries is advantageous.
