Senior Life Insurance Underwriting Consultant

Western & Southern Financial Group; Cincinnati (OH); Hybrid; USD 90,000 - 120,000; Full time

Job summary

Western & Southern Financial Group in Cincinnati, OH, seeks an experienced Senior Underwriting Consultant to independently assess risks on life, accident, and critical illness insurance applications and policy changes. This professional will mentor others, lead project work, and ensure adherence to underwriting guidelines and regulatory standards.

The role requires strong negotiation, analytical thinking, and superior communication with agents and applicants.

Qualifications

• College degree or relevant underwriting experience is preferred.
• LOMA 280, 290, 311, 320, ACS-100, ALU-1, ALU-2, FALU and/or CLU required or equivalent experience.
• Experience evaluating risk and insurability on large face amount cases is required.
• Proven customer-oriented experience with clear communication and multitasking.
• Proven ability to mentor associates and lead teams.

Responsibilities

• Independently determines the extent of risk to the Company and assigns a classification.
• Independently evaluates underwriting requirements through correspondence, reports and forms.
• Determines if additional underwriting requirements are needed beyond regular requirements.
• Makes underwriting decisions within mortality expectations for the Company.
• Concurs on cases over Underwriters' limit of authority and provides final approvals.
• Completes file reviews and ensures compliance with rules and regulations.
• Communicates with field force, vendors, reinsurers, and Home Office associates.
• Underwrites policy changes, reinstatements, rate reductions or removals.
• Mentors underwriters and provides job-specific training.
• Leads team workflow and shares case studies for skill development.
• Maintains confidentiality of sensitive information and presents to sales schools.

Skills

Negotiation skills

Analytical skills

Verbal and written communication

Attention to detail

Leadership

Mentoring

Time management

Organizational skills

Customer oriented

Multi-task management

Education

College degree or underwriting experience

LOMA 280/290/311/320 or ACS-100/ALU-1/ALU-2/FALU/CLU

Tools

Word

Excel

Job description

Overview

Independently evaluates and classifies risks on applications for life, accident and critical illness insurance including supplemental benefits and policy changes in accordance with mortality and morbidity pricing assumptions. Underwrites life insurance applications and associated risks. Classifies the risk with a minimum of underwriting requirements. Verbally discusses cases with Field Sales associates and applicants, which may involve explaining the reasons the Company took adverse action on an application and attempting to diminish any negative reaction by the applicant. Develops a strong knowledge of human physiology in order to glean the necessary information from the data collected. In addition, builds a high level of knowledge of other technical aspects of the underwriting process, which includes financial needs, insurable interests, avocations and occupations along with a comprehensive knowledge of the company's products and procedures. Concurs on cases that are over the Underwriters' limits of authority; the Senior Underwriting Consultant will be responsible for the final approval of these cases. Reviews the cases of the Underwriters to determine the quality of the work and any developmental needs.

Responsibilities

What you will do:

• Independently determines the extent of the risk to the Company and assigns a classification.
• Independently evaluates underwriting requirements through a variety of correspondence, reports and forms.
• Determines if additional underwriting requirements in excess of the regular requirements (i.e., age/amount requirements) are needed.
• Makes underwriting decisions that produce claim results within the Company's mortality expectations.
• Determines appropriateness of applied coverage (i.e., sufficient financial justification, appropriate insurable interest).
• Concurs on cases over the Underwriters' limit of authority.
• Completes file reviews on the Underwriters.
• Complies with federal and state rules and regulations (i.e., MIB, Fair Credit Reporting Act, blood testing, Replacements, 1035 Exchanges, etc.).
• Communicates with field force, vendors, reinsurers, various Home Office associates, etc.
• Underwrites policy changes, reinstatements, rate reduction or removal.
• Gives proper direction to the New Business support staff and Underwriters.
• Serves in the lead position for the team on a periodic basis, communicating workflow to the group and other teams.
• Effectively works within a team composed of associates who are at various levels of experience and expertise in addition to various job levels.
• Periodically prepares procedures to be used in work-related procedural and training manuals, and also prepares formal reports in conjunction with department projects.
• Mentors underwriters regarding cases, customer service, relationships with agents and technical skills. Develops and presents structured job-specific training as management directs, applying appropriate adult-learning principles.
• Shares prepared cases studies with underwriting staff in order to develop the skills of the entire group.
• Maintains confidentiality of information including sensitive medical, financial, personal and payroll information.
• Makes presentations to sales schools and at seminars regarding underwriting practices.
• Builds relationships with peers within the industry to share best practices and benchmark underwriting guidelines.
• Collaborates with AVP & Chief Underwriter, Chief Underwriter and Medical Director on special projects.
• Acts as backup to AVP & Chief Underwriter or Chief Underwriter as needed.
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• College degree or relevant underwriting experience - Preferred
• LOMA 280, 290, 311, 320, ACS-100 (Designation), ALU-1, ALU-2, FALU and/or CLU Designation and/or commensurate experience as outlined in the selection criteria section. - Required
• Demonstrated experience evaluating risk and insurability on large face amount cases. - Required
• Proven experience working in a customer-oriented field and effectively articulating information to clients in a patient and understanding manner while managing multiple tasks/issues involving clients - Required
• Proven examples from work experience of going beyond the call of duty to assist team members. - Required
• Proven experience adapting and demonstrating flexibility associated with changes to policies/procedures. - Required
• Demonstrated knowledge of medical terminology. -
• Proven ability to successfully portray strong financial and medical underwriting skills. -
• Demonstrated strong negotiation skills and experience “selling” adverse decisions to producers in a clear, concise and positive manner that leaves producers feeling good about the decisions. -
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems and providing effective resolution. -
• Demonstrated excellent verbal and written communication skills with ability to convey information to internal and external customers in a clear, focused and concise manner. -
• Proven examples of handling difficult situations effectively while maintaining high volumes of work. -
• Demonstrated ability to show leadership within a work group and mentor associates with various levels of experience. -
• Demonstrated strong attention to detail with excellent organizational skills. Cite examples of organization and time management methods used to manage or prioritize workload demands. -
• Working knowledge of word processing and spreadsheet applications. -

Work Setting/Position Demands:

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.

Travel Requirements:

• None