Underwriter (Finance)
Join Our Team as an Underwriter! Are you a detail-oriented professional with a knack for analyzing data and assessing risk? We're seeking an Underwriter to evaluate group experience data and determine rates for dental and vision insurance products. Collaborate with sales and account management teams to ensure seamless client interactions and contribute to our company's growth. Apply now to be part of a dynamic team that values accuracy, collaboration, and customer satisfaction!
Position Summary:
The primary responsibility of the Underwriter is to evaluate and analyze group experience data for both prospective and existing accounts to determine appropriate rates for dental and vision insurance products. This role involves assessing risk, ensuring accurate pricing, and adhering to company guidelines to support organizational profitability and growth. Additionally, the Underwriter collaborates closely with sales and account management teams to provide support and ensure seamless client interactions, contributing to overall customer satisfaction and retention.
This position handles cases of moderate complexity and escalates more challenging cases to the Senior Underwriter when necessary.
Essential Functions and Job Responsibilities:
1. Develops and evaluates rates for new business, renewals, and benefit plan changes. This work may include but is not limited to:
• Analyzing group experience to determine accurate rates for dental and vision insurance products;
• Applying underwriting guidelines and principles to assess risk and competitive positioning;
• Preparing rates in a timely and accurate manner;
• Collaborating with account management, ensuring alignment with client needs and company objectives.
2. Conducts actual-to-expected pricing analysis. This work may include but is not limited to:
• Reviewing claims cost projections to ensure accurate pricing and anticipated margins;
• Identifying trends or discrepancies to improve future underwriting decisions;
• Maintaining detailed documentation for retrospective analysis.
3. Assists with system updates and testing. This work may include but is not limited to:
• Gathering requirements for updates to rating models, group rating systems, or contract management systems;
• Conducting testing to verify the accuracy and functionality of system upgrades;
• Providing input to ensure system improvements meet underwriting needs.
4. Drafts and customizes contracts and benefit booklets. This work may include but is not limited to:
• Preparing ASC contracts for new and existing clients based on group specifications;
• Collaborating with Compliance and other departments to finalize contract negotiations;
• Reviewing and customizing benefit booklets to accurately reflect program designs.
5. Collaborates with internal and external stakeholders. This work may include but is not limited to:
• Communicating underwriting decisions and unique client features to account managers and implementation teams;
• Addressing underwriting-related questions from internal departments, brokers, and clients;
• Representing the organization professionally at conferences, client meetings, and broker events, as needed.
6. Participates in training and professional development. This work may include but is not limited to:
• Engaging in training programs to enhance underwriting knowledge and technical skills;
• Collaborating with senior team members to gain insights on complex cases;
• Staying updated on industry trends and regulatory requirements.
7. Supports team operations and other duties as assigned. This work may include but is not limited to:
• Assisting other team members during busy periods or in their absence;
• Contributing to team discussions and projects to improve underwriting processes;
• Maintaining confidentiality and protecting data in compliance with company policies.
Regular and reliable attendance is required.
Other duties and responsibilities may be assigned.
Qualifications:
• Bachelor's degree in Finance, Business Administration, Mathematics, Statistics, Actuarial Science, or a related field.
• Minimum 2 years of experience in underwriting or the health insurance industry required; dental underwriting experience preferred.
• Proficiency in Microsoft Excel, Word, and Access; familiarity with SQL is a plus.
• Strong analytical and decision-making skills, with a focus on accuracy and detail.
• Ability to communicate effectively with internal and external stakeholders.
• Strong organizational skills and ability to prioritize tasks.
• Demonstrated ability to work collaboratively within a team environment.
• Ability to absorb technical information and apply it effectively in decision-making.
Competencies:
• Accountability
• Analytical Thinking
• Communication
• Decision-Making
• Problem Solving
• Collaboration
• Organizational Skills
• Risk Management
Environment:
This position currently functions as a hybrid role working from both home and in-office environments. Any home office setting must be conducive to all guidelines outlined by the organization. This role is required to regularly attend in-person meetings, the frequency of which is determined by management based on departmental or organizational needs.
Physical and Other Demands:
Specific vision abilities required by this job include the ability to adjust focus. While performing the duties of this job, the employee is regularly required to sit, talk and hear. The employee is frequently required to use hands and arms to handle, feel, reach and operate a computer. This job requires substantial typing.
The ability to manage multiple tasks and shift focus between tasks, screens, and systems is essential. The position requires the ability to work in a fast-paced environment and manage stress effectively.
DDMO provides reasonable accommodation to qualified individuals with a known disability unless doing so imposes an undue hardship.
Employees must be able to successfully perform the essential functions of this role with or without a reasonable accommodation.
Disclaimer:
This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties or responsibilities that will be required. The organization reserves the right to modify this job description at any time; including assigning or reassigning job duties or eliminating this position at any time.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
