Senior Manager, Underwriting

ExtensisHR; United States; On-site; USD 35,000 - 350,000; Full time

Benefits offered by this job

Competitive compensation

Paid-Time Off program

Group Medical, Dental, Vision insurance

401k and IRA retirement plans

Professional development programs

Employee discounts

Community outreach committee

Complimentary coffee and snacks

Job summary

An established industry player is seeking a Senior Manager for Underwriting to lead their New Business Healthcare Pricing Department. This pivotal role involves developing underwriting strategies that align with the company's growth objectives while ensuring compliance with industry regulations. The ideal candidate will have extensive experience in underwriting group health insurance products and a proven track record in managing teams. You will play a critical role in shaping the future of health insurance offerings for a diverse employee population, contributing to a culture that prioritizes employee well-being and organizational success. If you are passionate about making a difference in the HR services industry, this opportunity is for you.

Qualifications

• 5+ years of experience in underwriting group health insurance products.
• Strong knowledge of medical conditions impacting claims costs.
• Experience managing a team of underwriters.

Responsibilities

• Develop and implement new business underwriting and pricing policies.
• Monitor underwriting team’s pricing decisions and performance.
• Collaborate with management on pricing strategies and market competitiveness.

Skills

Underwriting experience

Leadership skills

Analytical thinking

Project management

Communication skills

Knowledge of health insurance laws

Education

Bachelor's degree in relevant field

Professional certifications in underwriting

Tools

Microsoft Excel

Actuarial pricing software

Job description

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Senior Recruiting Specialist at ExtensisHR | Talent Acquisition | Recruiting Strategy

ExtensisHR, one of the largest Professional Employer Organizations (PEOs) in the U.S. with client employees in all fifty states, is looking for talented people to join our team. If you want to contribute your talents, make a bigger impact, and be part of the growing PEO & HRO industry, we are interested in talking to you. Our renowned industry leadership in customer service starts with our people. You can contribute to delivering on our brand promise of helping organizations succeed through our people-first approach in solving customer’s ever-evolving HR needs. Our HR offerings include personalized services for HR, employee benefits, payroll and taxes, employer risk, compliance, and employee management. Today, we manage over $3 billion in employment-related costs annually—and we are growing every day.

For more information about the company visit www.ExtensisHR.com.

Who You Are:

ExtensisHR is seeking a Senior Manager Underwriting to join their organization. This experienced underwriting professional will manage the New Business Healthcare Pricing Department and partner in the development of the company’s health insurance risk management strategy, underwriting and pricing program to achieve both a target MLR and WSE volume growth. The ideal candidate will have underwriting experience working in both a carrier and in a PEO. The individual must have a track record of excellence in applying underwriting fundamentals in a disciplined way at the case and block (e.g., portfolio) of business level.

What You'll Do:

The Benefits team develops and manages a large and complex program to meet the needs of our diverse and rapidly growing worksite employee population, which exceeds 35,000 and is continuing to grow. As a Senior Manager Underwriting for new business, you will report to the Senior Director of Underwriting and working closely with our carriers and internal and external actuaries you will be responsible for developing and implementing new business underwriting and pricing policy, guidelines, systems and help our underwriting team make individual client level decisions to achieve the program’s goals.

• Execute strategic new business underwriting plans and performance goals and objectives to achieve the targeted financial results for the health insurance plan.
• Participate in the renewal underwriting process and project plan milestones under the guidance of the Senior Director of Underwriting
• Establish, execute, and enforce underwriting direction and priorities, guidelines, pricing systems, business rules, processes, workflow, information and reporting systems.
• Partner with senior and executive management in finance, benefits, claims, sales, and other operational areas as appropriate to achieve underwriting and risk profile objectives, develop new business, and help set overall pricing strategies.
• Monitor the underwriting team’s pricing decisions made for specific clients, as well as through macro book of business (portfolio level) analyses.
• Evaluate financial pricing and product strategies of competitors to ensure market competitiveness of ExtensisHR plans.
• Collaborate with senior members of the benefit management team and other key stakeholders and partners on the accurate pricing of new products and new markets.
• Maintain knowledge of current and emerging developments/trends for health insurance; assess the impact and collaborate with executive/senior management to incorporate new trends and developments in current and future strategies.
• Lead and manage the new business underwriting team. Educate and train team members. Track and monitors KPIs of team confirming pricing service level agreements are met.
• Provide reporting and analysis on new business underwriting activity.

What You Bring

• 5+ years’ experience underwriting group health insurance products (e.g., fully insured, level funded, self-insured or stop-loss) in a carrier and / or a PEO environment.
• Experience managing and leading a team with at least 2 underwriters.
• Strong knowledge of medical conditions and their impact on claims costs.
• Working knowledge of group health insurance plan designs, products, and alternative funding arrangements for cases with 50 to 500 lives.
• Demonstrated experience with complex group actuarial pricing, rating, and underwriting methods.
• Strong knowledge of Group health insurance industry (Federal & State) laws/regulations.
• Must have a high degree of competence with Microsoft Excel spreadsheets and strong MS Office skills.
• Excellent analytical thinking, mathematical, problem solving and project management skills.
• Excellent written and verbal communications skills - ability to interface with all levels of the organization and influence business leaders.
• The ability to make sound decisions and/or recommendations based on analysis of data but also including some “out of the box” decisions/recommendations.

What We Offer

At ExtensisHR, we recognize there are many factors that influence your overall satisfaction both at work, and in your personal life. Under our ‘You Supported Program,’ we provide a great mixture of compensation, benefits, company culture, and resources to our employees that help you reach a happier, more balanced life. Some of these offerings include:

• Competitive compensation to reward you for your hard work every day.
• Progressive Paid-Time Off Program for you to enjoy time out of the office, including time off for volunteering and life events.
• Group Medical, Dental, Vision and Life insurance to encourage a healthy lifestyle available from day one.
• Pretax Spending Accounts to ease taxes on health and dependent care expenses.
• 401k and IRA retirement plans, employer contributions.
• Extensive professional development programs to help you get to where you want to go in your career.
• Employee Discounts on retail and entertainment.
• A social and community outreach committee that promotes a fun inclusive culture through in-office events and networking opportunities.
• Diversity, Inclusion and Equity (DEI) committee that promotes organization DEI initiatives and employee engagement.
• Complimentary coffee and snacks to keep you fueled and productive throughout the day.

ExtensisHR is committed to a diverse and inclusive workplace. We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Strategy/Planning, Analyst, and Human Resources

• Industries

  Human Resources Services

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