Lead Underwriting Consultant

Penn Mutual Life Insurance Company; United States; On-site; USD 125,000 - 165,000; Full time

Job summary

Penn Mutual Life Insurance Company is seeking an experienced underwriting professional to analyze complex data, approve risk, and support product development. The role emphasizes adherence to underwriting standards, collaboration with field and home office, and participation in major projects to improve productivity and profitability.

Candidates should have 7–10 years underwriting experience, a college degree, and professional designations (FLMI, FALU, ACS) or coursework toward certificates.

Qualifications

• 7–10 years underwriting experience.
• College degree required; FLMI, FALU and ACS designations desirable.
• Strong knowledge of underwriting and insurance products.
• Ability to work within underwriting standards and pricing.

Responsibilities

• Assist others in resolving complex issues while adhering to underwriting standards.
• Conduct underwriting audits and quality review programs.
• Analyze data and provide approval for risk selection, coverage and pricing.
• Prepare reports on risks underwritten and quality.
• Participate in business planning to support product development.

Skills

Underwriting knowledge

Insurance contracts

Product pricing

Reinsurance knowledge

Mortality knowledge

Financial underwriting

Communication skills

Team collaboration

Education

College degree

FLMI

FALU

ACS designation

Tools

Mainframe

Job description

Responsibilities

• Assists others with resolving complex issues while ensuring adherence to underwriting standards and objectives.
• Assists in conducting underwriting audits and other technical quality review programs.
• Analyzes qualitative and quantitative data and provides approval for risk selection and acceptance, coverage, and pricing.
• Analyzes quality and quantity of risks underwritten and prepares reports accordingly.
• Participates in business planning to support product, program and policy developmental efforts.
• Participates in department initiatives; assists in recommending/ implementing changes to improve productivity, profitability, growth and quality.
• Selects and classifies risks according to company philosophy and standards.
• May assist with training and developing underwriters.
• Maintains profitable mortality experience.
• Analyzes and interprets medical, non-medical and financial information.
• Make decisions within approval limits at 100% up to $15,000,000 standard to age 90.
• Determines appropriate requirements.
• Reviews and provides signatures on referrals from underwriters.
• Identifies and provides solutions to work related problems and issues.
• Communicates and collaborates with the field and home office to provide the highest quality service levels to customers.
• Maintains positive and effective relationships with internal and external partners.
• Participates in major projects.
• Complies with all company and site policies and procedures.
• Remains current in profession and industry trends.
• Successfully completes regulatory and job training requirements.
• Performs other duties as assigned.

Skills and Abilities

• Highly developed knowledge of underwriting function
• General awareness of current affairs, industry issues and trends, both corporate and external.
• Solid knowledge of insurance contract law and state legislative requirements.
• Strong knowledge of insurance products (plans, riders, benefits) and illustrations and how they are marketed.
• Strong knowledge of reinsurance marketplace to work proactively with the field where reinsurance is an opportunity.
• Thorough understanding of automatic reinsurance agreements.
• Highly developed knowledge of medical science, technology and terminology and their impact on mortality.
• Highly developed knowledge of financial and other non-medical underwriting factors.
• Thorough knowledge of financial and non-financial underwriting factors.
• Thorough knowledge of product pricing.
• Strong organizational, communication and interpersonal skills.
• Strong analytical kills, ability to define, research and resolve problems.
• Excellent knowledge of mainframe and PC environment.
• Ability to create and maintain customer relationships.
• Ability to prioritize and work effectively under deadlines balancing published service times with an appropriate customer focus.
• Ability to comprehend, retain and apply current technical information to daily work issues.
• Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement.
• Ability to work with others in a collaborative team environment.

Education

College degree required, equivalent work experience in life Underwriting may be considered Required and FLMI, FALU and ACS designations or current coursework toward earning certificates

Experience

7-10 Years underwriting experience

Base Salary Range: $125,000 - $165,000

For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com .

Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment.