Underwriter I

Overview

This position is responsible for pricing benefit plans, renewal underwriting, prospect dental rate development, and experience analysis, including settlement of terminating and continuing financial arrangements. The role also performs actuarial assignments and functions as a consultant by advising marketing’s Account Executives, presenting information to groups, and informing department management of the financial consequences of existing or proposed insurance arrangements. Mathematical, financial, and analytical skills are used to research data, develop projections, and formulate proposals and recommendations to support business objectives.

Base pay is influenced by several factors including a candidate’s qualifications, relevant experience, anticipated contributions to meet the needs of the business, along with internal pay equity and external market-driven rates. The salary range displayed has not been adjusted for geographical location. This range was created in good faith based on information known at the time of posting and may be modified in the future.

Responsibilities

• Prepare rate quotations for prospective groups, benefit changes for current groups, and rate renewals for current groups based on underwriting and rating requirements and policies.
• Present rate exceptions with appropriate analysis and recommendations for management review and approval.
• Consult with Sales, Sales Management, and Underwriting Management to support renewal rate actions and quotes.
• Support Sales in justifying renewal calculations by creating exhibits and analyses.
• Design, modify, and program minor applications on a microcomputer that apply to rating structures and actuarial analyses used by the Plan, generally under the direction of the Senior Underwriter.
• Review and approve financial contract language for renewing groups.
• Accompany the Sr. Underwriter and department management on account calls to present renewals and rate quotations.
• Assist in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines.

Requirements

• Bachelor’s degree in mathematics, Finance, Statistics, Accounting, or a related business field OR a minimum of 2 years’ experience in underwriting/actuarial functions.

Knowledge

• Knowledge of mainframe and microcomputer applications used in the rating process.
• Competent understanding of managed care theory and familiarity with the PA insurance regulatory environment.
• Knowledge of financial and accounting concepts, terminology, and reports.

Skills

• Strong analytical skills and a sound understanding of medical statistics, enrollment, and provider data.
• Ability to abstract a financial arrangement into theoretical mathematical structures.
• Ability to effectively explain technical issues and provide consultative services to internal and external stakeholders in both written and verbal formats.

Physical Demands

• Sedentary work involving significant periods of sitting, talking, hearing, keying, and performing repetitive motions.
• Visual acuity required to perform close inspection of written and computer-generated documents as well as a PC monitor.
• Typical office working conditions.

Compensation & Benefits

• Comprehensive benefits package including Medical, Dental & Vision coverage
• Retirement Plan
• Generous time off including Paid Time Off, Holidays, and Volunteer time off
• Incentive Plan
• Tuition Reimbursement
• Additional benefits as offered by the organization

Location

Pennsylvania (salary range displayed has not been adjusted for geographical location).