Group Underwriting Senior Consultant responsible for the risk selection and pricing of Group Life, Disability, Health, Dental, and Critical Illness benefits plans. Collaborating with sales teams to meet profitability objectives and client needs.
About the role
- 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
- Strong conflict resolution ability; experience dealing with escalation processes & procedures
- Proficiency with underwriting software, data analysis tools, and Microsoft Office suite
- CEBS or GBA an asset
Benefits
- Learn by working alongside our experts
- Extended health care and dental benefits
- A retirement savings plan with company contributions
- A suite of Health & Wellness offerings
- Mental Health programs and support for you and your family
- Assistance for the completion of industry designations
- Competitive compensation
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