Sr. Group Life Underwriter

Bethel General Insurance and Surety Corp.; Metro Manila; On-site; PHP 1,500,000 - 2,100,000; Full time

Job summary

Bethel General Insurance and Surety Corp. seeks a Senior Group Underwriter reporting to the Assistant Vice-President of the Life Division to lead technical risk assessment for the division's group portfolios, including affiliates and MFI partners, ensuring programs are sound and IC-compliant.

Responsibilities include evaluating large group cases, setting premium rates using actuarial data, reviewing reinsurance placements, mentoring junior underwriters, and ensuring timely quotes and policy

Qualifications

• Bachelor’s degree or professional designations preferred (e.g., LOMA/ALU).
• 5–10 years in life insurance underwriting, with at least 5 years in group business.
• Strong knowledge of YRT and MRI products and reinsurance structures.
• Excellent analytical, negotiation, and communication skills.

Responsibilities

• Evaluate large and complex group cases including employee benefits, creditor groups, and associations.
• Determine premiums using actuarial data, claims history, and rating formulas.
• Review and negotiate treaty and facultative reinsurance placements for cases beyond retention.
• Collaborate with sales and actuarial teams to develop competitive yet profitable quotes.
• Underwrite individual life applications with medical and non-medical guidelines.
• Interpret medical and financial disclosures to determine insurability and rating.
• Ensure underwriting decisions comply with IC regulations and internal guidelines.
• Provide guidance to junior underwriters on difficult cases.
• Conduct internal quality audits to ensure accuracy and SLA adherence.

Skills

Group underwriting leadership

Actuarial data interpretation

Experience rating

Negotiation skills

Regulatory compliance

Education

Bachelor’s degree in Mathematics, Statistics, Finance, Business, or related field

Job description

Job Overview

Reporting directly to the Assistant Vice-President of the Life Division, the Senior Group Underwriter will serve as the technical lead for the division's internal group insurance portfolios. This role is responsible for the technical risk assessment, experience rating, and workflow optimization of our "captured" business (Affiliates and MFI partners), ensuring all programs are technically sound and IC-compliant.

Key Responsibilities

• Evaluate large and complex group cases, including employee benefits, creditor groups, and associations.
• Determine appropriate premium rates and policy terms using actuarial data, claims history, and experience rating formulas.
• Review and negotiate treaty and facultative reinsurance placements for cases exceeding the company’s retention limits.
• Collaborate with the sales and actuarial teams to develop competitive yet profitable quotes.
• Assess and underwrite individual life insurance applications, applying medical and non medical underwriting guidelines.
• Interpret medical reports, financial documents, and lifestyle disclosures to determine insurability and appropriate rating (standard vs. substandard).
• Serve as a bridge between the group and individual departments to ensure consistency in risk philosophy across the organization.
• Monitor the performance of the group portfolio, identifying trends in loss ratios and recommending corrective actions for renewals.
• Ensure all underwriting decisions comply with internal guidelines and the regulatory requirements of the Insurance Commission (IC).
• Participate in the development and periodic review of underwriting manuals and product technical notes.
• Provide technical guidance and authority for junior underwriters on difficult cases.
• Conduct internal quality audits to ensure accuracy and adherence to service level agreements (SLAs).
• Assist in the training of sales staff and intermediaries regarding risk selection and product features.

Qualifications

Education

• Bachelor’s degree in Mathematics, Statistics, Finance, Business, or a related field. Professional designations (e.g., LOMA/ALU) are highly preferred.

Experience

• Minimum of 5-10 years of experience in life insurance underwriting, with at least 5 years specifically focused on group business.

Technical Skills

• Deep understanding of Group Yearly Renewable Term (YRT) and Mortgage Redemption Insurance (MRI)
• Proficient in medical underwriting and financial risk assessment for individual accounts.
• Strong grasp of reinsurance structures and treaty compliance.

Soft Skills

• Exceptional analytical and decision-making abilities.
• Strong negotiation skills with the ability to balance sales needs with risk appetite.
• Excellent communication skills for collaborating with actuaries, brokers, and senior management.

Success Indicators

• Maintains a balanced loss ratio within the company’s target range.
• High accuracy rate in risk assessment and premium computation.
• Consistent achievement of turnaround time (TAT) targets for quotes and policy issuance.