Benefits Analyst III - Financial & Renewal Strategy

USI Insurance Services; Chicago (IL); On-site; USD 85,000 - 120,000; Full time

Job summary

USI Insurance Services in Chicago is seeking an Employee Benefits Analyst III to analyze and support standard to complex employee benefits programs, including fully insured and self-funded plans. You will prepare financial analyses, review carrier quotes, and assist with renewal strategy development for client renewals.

The role involves developing cost-saving strategies and presenting findings to clients and executives.

Qualifications

• 3+ years of employee benefits experience within an insurance brokerage or employee benefits consulting environment.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Ability to work in a fast-paced, team environment with minimal instruction.
• Ability to manage and negotiate multiple priorities and deadlines.
• Strong written, verbal, and interpersonal communication skills.

Responsibilities

• Responsible for financial analytics for clients that are fully insured and self-funded. Typical client size is 100 to 1,000 lives.
• Prepare standard analyses with occasional customization. Analyses may include market review analysis, renewal rate and funding projections, analysis of claims utilization, and benchmarking.
• Develop alternative strategies, plan modeling, and cost reduction opportunities.
• Perform technical analysis of group insurance contracts and financial arrangements.
• Serve as primary contact with insurance carriers, negotiate and market coverage for new business quotes and renewals, and prepare renewal/new plan options with executive summary.
• Write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps.

Skills

Strong communication skills

Excel and Word proficiency

Analytical systems proficiency

Problem solving

multitasking / time management

Education

High School Graduate; College degree preferred

Tools

MS Office

Job description

USI Insurance Services in Chicago is seeking an Employee Benefits Analyst III to analyze and support standard to complex employee benefits programs, including fully insured and self-funded plans. You will prepare financial analyses, review carrier quotes, and assist with renewal strategy development for client renewals.

The role involves developing cost-saving strategies and presenting findings to clients and executives.