Underwriting I, II, III or Senior - Portland, United States - Cambia Health Solutions

Description

Work Remotely from Oregon, Washington, Idaho or Utah

Underwriter I, II, III & Senior evaluates each assigned group's risk and attaches the appropriate rate.

General Functions and Outcomes

Underwriter I (Entry Level)

• Approves renewal changes after verifying rates and product selection.
• Audits both new and renewing groups as necessary.
• Determines rates for alternative benefit variations.
• Ensures that group participation requirements are met.
• Prepare rate filings.
• Follows underwriting guidelines, policies, procedures and formulas in developing rates for new and renewal groups.
• Gathers the appropriate data used to determine the status of account refunds.
• Maintains spreadsheet information on group renewal history.
• Prepares memos and other correspondence to communicate changes in rates or benefits which have been approved by underwriting management.
• Processes the appropriate paperwork associated with renewal rate action and proposal closing.
• Supports internal sales staff regarding underwriting questions and/or resolves issues.
• Effectively communicates Underwriting decisions to other departments when necessary.

Underwriter II - In addition to the Functions and Outcomes Listed above for the UW I, the UW II, III & Senior...

• May determine rates for alternative benefit variations and funding arrangements.
• Assist in the training process and mentoring of more junior level Underwriters.
• Prepares contingent premium settlements.
• Prepares the rate quotations and completes bid specifications.
• Processes group financial settlement calculations.
• Reviews and determines whether or not to grant exception requests.
• Supports management reporting efforts and the development of automated rating and analysis tools.

Underwriter III - In addition to the Functions and Outcomes Listed above for UW I & II, the III & Senior...

• May determine rates for alternative benefit variations and more complex funding arrangements.
• Actively involved in the preparation and maintenance of underwriting guidelines and rating policy.
• Actively involved with testing new rating, underwriting and front end systems.
• Answers questions regarding the basic factors used in developing rates, (group size, type of benefits, age/gender composition, large claims, experience provided from the prior carrier, current rates).
• Answers questions regarding the rate model and how it impacts rates in accordance with particular group demographic changes.
• Assesses health risk in a group environment (performs large claim analysis for ongoing claim cost).
• Develops prospective and renewal rates for group accounts in accordance with corporate and underwriting guidelines.
• Reviews and determines whether or not to grant exceptions to underwriting policy.
• Ensures the proper administration of underwriting and legislative guidelines for new and renewing groups.
• Handles large volume production with account specific issues (I.e. reinstatements, eligibility standards, group identification criteria, etc)
• Maintains a working knowledge of State and Federal regulations affecting group rating.
• Prepares rate breakouts and hierarchy definitions for group setups.
• Reviews and directs the preparation of experience reports for fiscal, ERISA and contingent premium settlements.
• May meet with external customers, brokers or account representatives to review underwriting calculations and provide explanations for rating principles.
• May prepare written summaries of recommendations and/or conditions of coverage for the group after completion of each analysis.
• May prepare an explanation of the past rating history, documenting benefit and enrollment changes, and providing a recommendation for benefit and financial options.

Underwriter Senior - In addition to the Functions and Outcomes Listed above for UW I, II & III, the UW Senior...

• Contributes to timely and accurate productivity by assisting the Manager in education to new Underwriters.
• Attends broker meetings, as well as meetings with sales executives, agents and/or groups to provide explanations of rating principles or rationale of rating positions.
• Contributes to the development of new rating formulas, methodologies and guidelines.
• Represent underwriting on Cambia workgroups and strategy sessions and serves as department representative where applicable.

Minimum Requirements

Underwriter I

• Demonstrated analytical and problem solving skills.
• Business sense including: finance, accounting, economics, and risk management principles.
• Effective verbal and written communications.
• Ability to build and maintain positive internal and external customer interactions.
• Ability to prioritize tasks and meet deadlines.
• Demonstrated technology proficiency, including Excel, Word, and applicable software applications.

Underwriter II - In addition to the Minimum Requirements listed above for the UW I, UW II, III & Senior will have...

• Demonstrated success with managing competing priorities and workload.

Underwriter III - In addition to the Minimum Requirements listed above for the UW I & II, the UW III & Senior will have...

• Demonstrated proficiency working with complex computer software systems and automation.
• Ability to effectively explain complex mathematical and abstract concepts to a variety of stakeholders, including those with less familiarity and/or understanding.

Underwriter Senior - In addition to the Minimum Requirements listed above for the UW I , II & III, the UW Senior will have...

• Proven understanding of business, including: finance, accounting, economics, and risk management.
• Demonstrated attainment of a high level of independent, consistent performance.
• Ability to organize, plan, prioritize and complete complex assignments with little or no supervision.
• Demonstrated ability to read the marketplace and competitive environment.

Normally to be proficient in the competencies listed above

The Underwriter I would have a Bachelor's degree in business, math, statistics or related discipline or an equivalent combination of education and experience.

The Underwriter II would have a Bachelor's degree in business, math, statistics or related discipline and a minimum of 2 years related experience or an equivalent combination of education and experience.

The Underwriter III would have a Bachelor's degree in business, math, statistics or related discipline and a minimum of 4 years related experience or an equivalent combination of education and experience.

The Underwriter Senior would have a Bachelor's degree in business, math, statistics or related discipline and a minimum of 6 years related experience or an equivalent combination of education and experience.