The Employee Benefits Underwriter analyzes information to create and assist with delivery of financial deliverables for current and prospective clients with complex benefit programs. Financial deliverables include financial and contractual analysis, claims utilization analysis and modeling, renewal projection and premium rate analysis and modeling.
Requirements
- Evaluates the financial risk of medical & ancillary benefits for clients and prospective clients
- Proficiently communicates with internal/external customers
- Utilizes group experience and demographic analysis to drive future strategies such as plan changes, stop loss levels, funding changes, & contributions
- Utilizes analytical tools to develop alternative strategies, plan modeling and cost reduction opportunities
- Works with the Consulting Team Members to create Request for Proposals (RFPs) for carriers and manages the financial aspects of the renewal
- Evaluates and explains financial analyses to internal team
- Presents an explanation of financial analyses/strategies to external clients
- Interfaces directly with clients to provide expert underwriting review to explain financial analysis and renewal materials
- Performs technical analysis of group insurance contracts and financial arrangements
- Responsible for understanding and to expertly explain external market influencers and internal experience trends driving benefit costs to clients
- Analyzes and prepares reporting package in accordance with client service calendar financial meetings (e.g. post-renewal, mid-year, pre-renewal, renewal)
- Works with the Consulting Team members and insurance carriers on new business quotes and renewals to include related activities such as: requesting quotes, evaluating option, negotiation of rates and benefit features and, preparing renewal or new plan options with executive summary
- Works closely with Consulting Team Members to ensure strategic objectives of client are clearly articulated and that all client deliverables deliver proactive solutions in line with client strategic objectives
- Acts as a resource for Consultants and Sales Executives to develop strategic plans and solutions for prospects and clients and prospects.
- Mentor and assist with training junior analysts/account managers
- Set priorities for analytical work to meet deadlines
- Participate in training programs to enhance benefit industry knowledge
Benefits
- Comprehensive medical insurance
- Dental insurance
- Vision insurance
- Life and disability insurance
- Fertility benefits
- Wellness resources
- Paid sick time
- Generous paid time off and holidays
- Employee Assistance Program (EAP)
- Complimentary Calm app subscription
- Immediate vesting in a 401(k) plan
- Health Savings Account (HSA) and Flexible Spending Account (FSA) options
- Commuter benefits
- Employee discount programs
- Paid maternity leave and paid paternity leave (including for adoptive parents)
- Legal plan options
- Pet insurance coverage
