Benefits Underwriter

Ryan Specialty; United States; Remote; USD 112,000 - 140,000; Full time

Benefits offered by this job

Paid parental leave

Mental health services

Comprehensive benefits package

Job summary

Ryan Specialty seeks a Benefits Underwriter in the United States to quote, rate, and issue new business, renewals, and endorsements. You will collaborate with Sales, Claims, Operations, Finance, Legal, Risk and Compliance to drive profitable growth in Health.

Responsibilities include case underwriting, pricing, risk evaluation, and timely delivery of quotes. A Bachelor’s degree and health underwriting experience are required; salary ranges are provided below with bonuses and benefits noted.

Qualifications

• Bachelor’s degree in fields such as business, finance, economics, or a related field.
• 5 years of Health Insurance Underwriting or 3 years of experience with a master’s degree.

Responsibilities

• Underwrite health coverage for renewals and new business (manual and experience rating).
• Analyze and evaluate price risks, and communicate results to sales/brokers.
• Deliver timely quotes/binders and calculate premiums based on risk and coverage type.
• Assess risks using underwriting software and guidelines to determine insurability.
• Meet new business premium targets and retention targets for the territory.
• Serve assigned accounts/brokers with underwriting and sales collaboration.
• Review referrals and coordinate with Claims, Actuarial, Operations, Finance, Legal, and Compliance.

Skills

Underwriting

Stakeholder communication

Education

Bachelor’s degree in business/finance/economics

Tools

Underwriting software

Job description

Position Summary

The Benefits Underwriter is responsible forquoting, rating and issuance of new business, quotes, renewals, and endorsements. The role will work closely with Specialty Sales, Claims and Operations, Finance, Legal, Risk and Compliance to help achieve strategic initiatives, which will assure the long-term growth of profits for Health.

What will your job entail?

Job Responsibilities:

• Case underwriting of Health coverage for both renewals and new business (manual rating and experience rating)
• Analyze, select, evaluate price risks, articulate underwriting analyses and identify corrective actions, if any, to sales team and broker contacts.
• Deliver timely and accurate quotes/binder by determining premiums and calculate premiums based on the level of risk and the type of coverage requested.
• Evaluate the risk associated with insuring applicants using underwriting software and guidelines.
• Achieve new business premium targets, premium retention targets and loss ratio targets for assigned territory.
• Servicing of assigned accounts and brokers, in conjunction with other Underwriting and Sales team members within assigned territory.
• Prepare (where applicable) review and approval of case referrals.
• Analyzing applicant information by reviewing medical histories, financial data, and other relevant information
• Work closely with other functional areas: Claims; Actuarial; Operations; Finance; Legal and Compliance.
• Liaise with internal stakeholders to ensure awareness of underwriting activities that require support and service.
• Adherence to all internal and external compliance standards, including implementation of new standards.
• Assist in achieving overall Ryan Specialty goal in collaboration with Distribution.
• Work closely and share responsibility for overall revenue goal through new business and retention targets.
• Engage in ongoing education to stay current with industry trends, regulations, and best practices.
• Quarterly self-audit process to assure 100% and timely compliance and take necessary actions on audit recommendations and findings.
• Training to ensure compliance to underwriting authority and sales practice.
• Strategize with other members of assigned territory team to identify target market segments and to develop broker distribution relationships.

Work Experience and Education:

• Bachelor’s degree in fields such as business, finance, economics, or a related field.
• 5 years of Health Insurance Underwriting or 3 years of experience with a master’s degree.

Licenses & Certifications:

• State Accident and Health Insurance license a plus.
• Charter Healthcare Consultant (ChHC) or Registered Health Underwriter (RHU) is plus.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization.

Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression,sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners,and communities.

This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $112,000.00 - $140,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https:/benefits.ryansg.com/ ;!!OrxsNty6D4my!4OeNZE6D9hJ8xIegebQHHkr9WhOMydDMUBDXB5xVScD5wDPpE_Daw5m4xIQMDSbrcJGSlh9Yc_TotZyyVR9G3_0F8eYa8E8$

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [e-mail]

The above is intended to describe this job’s general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.