Associate Underwriter

Highmark; Town of Tonawanda (NY); On-site; USD 37,222 - 57,652; Full time

Job summary

Highmark is seeking an underwriting risk analyst to evaluate risk for new enrollments, annual renewals, and plan amendments in line with established underwriting policies. You will support sales teams and customers with insights to drive acquisition and retention while achieving performance targets.

You will analyze data such as industry type and financial condition to assess risk for a book of small to mid-sized clients, contributing to accurate pricing and risk management.

Qualifications

• Bachelor's degree in Mathematics, Actuarial Science, Finance, Business, Computer Science, Science, Technology, or other quantitative analysis discipline or equivalent experience.

Responsibilities

• Analyze risk factors for new enrollment, annual renewals, and amendments following underwriting policies and standards.
• Serve as the point of contact for sales teams and assigned customers, delivering insights to aid acquisition and retention.
• Assess risk using data on industry type, financial condition and other characteristics for a portfolio of small to mid-sized clients.
• Coordinate with sales and underwriting to manage quotes and communicate risk perspectives clearly.
• Calculate rates using company methods under supervision and identify unusual pricing scenarios.

Skills

Computer skills

Multitasking

Ethical practices

Attention to detail

Analytical ability

Education

Bachelor's degree in a quantitative field

Job description

Job Summary

This role analyzes risk factors for new enrollment, annual renewals, and amendments of insurance contracts or self-funded plans in conformance with established underwriting policies, practices, and standards. It serves as a point of contact for sales teams and assigned customers, delivering insights and recommendations to aid customer acquisition and retention while maintaining performance goals. The analyst evaluates data such as industry type, financial condition, and other characteristics to assess risk for a book of business consisting of standard small and mid-sized clients.

Essential Responsibilities

• Work with sales team and underwriting peers and leaders to manage a portfolio of clients towards financial and business targets (e.g., membership, revenue, margin).
• Under supervision, serve as owner of all quotes delivered to sales partners; develop a perspective on each client package deliverable and clearly communicate position on the risk profile of each client.
• Respond to questions and draw insights from quote details, client understanding, and regional insights to deliver recommendations to sales, under supervision.
• Calculate rates utilizing company rating algorithms, under supervision.
• Identify unusual situations not anticipated by standard pricing formulae and seek assistance in applying Corporate Risk Management policies.
• Interpret risk and apply pricing policies to account for unusual situations; identify questionable claim patterns whether occurring on an in-force account or a prospect.
• Maintain accurate book management details, including concession budget.
• Assess risk by looking at various measures such as risk scores, demographic analysis, and turnover considerations, under supervision.
• Develop a basic understanding of the department and the company strategic goals and competitive position.
• Communicate case-specific underwriting results with other internal departments under supervision.
• Complete workload within established production and timeliness standards.
• Perform administrative tasks and aid in workload coordination.
• Other duties as assigned.

Experience

Required Experience

• None

Preferred Experience

• 1 year of relevant underwriting, risk management, or actuarial experience applying advanced mathematics or quantitative analysis.

Skills

• Ability to use computer systems, electronic tools, and applications
• Ability to manage several simultaneous priorities
• Demonstration of ethical business practices with adherence to guidelines
• Strong attention to detail
• Basic analytical skills

Education

Required Education

• Bachelor's degree in Mathematics, Actuarial Science, Finance, Business, Computer Science, Science, Technology, or other quantitative analysis discipline or relevant experience as determined by the company in lieu of a bachelor’s degree.

Preferred Education

• None

Licenses or Certifications

Required Licenses/Certifications

• None

Preferred Licenses/Certifications

• None

Languages

None (other than English)

Travel Requirement

0% - 25%

Physical, Mental Demands and Working Conditions

Position is non-office based; occasional travel to various work sites. Requires lifting up to 10 pounds constantly, 10 to 25 pounds rarely, and 25 to 50 pounds never.

Pay Range

$27.02 - $41.85

EEO Statement

Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities and prohibit discrimination against all individuals based on any category protected by applicable federal, state, or local law.