Manager of Underwriting for group insurance products overseeing underwriting processes and team management. Ensuring compliance and collaboration with stakeholders for optimal performance.
Responsibilities
Oversee the underwriting process for group benefits products, such as group health, life, disability, and other related coverages.
Ensure that all applications are evaluated and analyzed using underwriting guidelines, policies, and principles to ensure profitability and competitiveness of the block as a whole
Work with team to evaluate the risk associated with group insurance applications.
Review and analyze group data, claims history, medical information, and other relevant factors to determine appropriate coverage levels and premium rates.
Collaborate with carriers to set competitive and sustainable premium rates for group benefit plans based on the underwriting assessments and risk analysis.
Drive continuous process improvement initiatives within the underwriting group to enhance operational efficiency, accuracy, and customer experience.
Work with the VP, Underwriting, Group Solutions to set team goals and objectives to align with the Underwriting department
Collaborate with sales and account management teams to provide underwriting support during client presentations and meetings; address inquiries from clients, brokers, and other stakeholders regarding underwriting decisions and processes
Utilize data analytics and reporting tools to monitor underwriting performance, trends, and key metrics.
Generate reports for senior management and other stakeholders to inform strategic decision-making
Hold team accountable to deliver on objectives by meeting or exceeding individual goals
Stay updated on industry trends, regulatory changes, and emerging risks in the group insurance space
Conduct regular training sessions for the Underwriting team on product knowledge and industry expertise to support their development, performance and career progression
Requirements
7+ years relevant experience in Underwriting
Proven understanding group benefits underwriting, with a track record of progressively increasing responsibilities
Strong leadership and team management skills, with the ability to motivate and develop a team of underwriters
In-depth knowledge of group insurance products, underwriting principles, and risk assessment
Familiarity with insurance regulations and compliance requirements specific to group benefits
Excellent problem solving, mathematical and analytical skills
Excellent communication and interpersonal skills to collaborate with cross-functional teams, clients, and brokers
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