Senior Stop Loss Underwriter

Title - Senior Stop Loss Underwriter
Location - Southfield or Grand Rapids , MI (Local Remote)
Duration - Fulltime Direct Hire

Job Summary

Assess and calculate the financial responsible and marketable premium rates for current and prospective group accounts. Understand and work towards departmental objectives. Coordinate the proposal process for self-funded and insured requests. Assure that fully insured rates are calculated correctly and that customer needs are met.

Essential Functions

• Accurately analyze employer’s risk profile and develop rates on fully-insured prospective and renewal accounts within our approved community rating guidelines. Audit on a periodic basis, the cases rated by the marketing department to assure their compliance with the company’s approved underwriting guidelines. Maintain on a consistent basis, renewal and prospective account files that assist the underwriters in the accurate development of premium rates.
• Calculate and recommend final fully-insured rates for renewals and proposals requested by Sales. Work with the Sales Department to arrive at a competitive and financially responsible rate level. Calculate suggested COBRA premium rates for new and renewing groups as requested.
• Run reports (P&Ls, In and out of Network reports) and Investigate high claim issues for our group customers.
• Work with the Underwriting staff and Sales staff to develop decisions that reflect teamwork. Promote discussion and resolution of customer pricing issues. Maintain, on a consistent basis, renewal and prospective account files that assist underwriters in the accurate development of premium rates.
• Coordinate self-funded proposal and renewal requests with insurance carriers in a timely fashion. Analyze stop loss proposals and prepare easily understood financial exhibits which highlight benefits options, cost savings and projected fixed and claim costs.
• Effectively implement the administrative fee of the new and renewal proposals to maintain a competitive market position and meet PHMB revenue guidelines.
• Maintain consultative relationships with brokers/agents, consultants and employer groups, as needed. Attend with the sales department, proposal and renewal client presentations. Provide necessary technical assistance in the communication of the administration fees, premium rates and financial exhibits.
• Provide essential paperwork for ASO sold case including Underwriting Disclosure and stop loss verification form. Calculate ASO binder check amount.

Qualifications

• Required Bachelor's Degree or equivalent
• 5 years of relevant experience in related field Required