Stop Loss Underwriter

Blue Cross Blue Shield of Massachusetts, Inc.; Boston (MA); On-site; USD 96,000 - 119,000; Full time

Job summary

An established industry player is seeking a Senior Underwriter to join their dynamic team in Boston. This role is pivotal in underwriting accounts for various Stop Loss programs, ensuring financial stability for self-funded accounts. The ideal candidate will have a solid background in underwriting, exceptional communication skills, and a knack for problem-solving. This position offers a supportive environment that values diversity and promotes work/life balance. Join a forward-thinking organization dedicated to transforming healthcare and making a real impact in the industry.

Benefits

Paid Time Off

Medical Insurance

Dental Insurance

Vision Insurance

401(k)

Well-being Benefits

Qualifications

• 5+ years of underwriting or related experience required.
• Superior oral and written communication skills are essential.

Responsibilities

• Calculate Stop Loss New Business and Renewal quotations accurately.
• Prepare complete underwriting analyses for New Business prospects.

Skills

Underwriting

Communication Skills

Problem Solving

Financial Analysis

Education

Undergraduate Degree

Master's Degree

Tools

Microsoft Excel

Microsoft Office

Job description

Ready to help us transform healthcare? Bring your true colors to blue.

What We Need

Underwriting is instrumental to securing the financial wellbeing of insurance companies. At Blue Cross Blue Shield of Massachusetts, Underwriters are valued partners in contributing to the organization’s success by influencing business segments such as Marketing, Product Portfolio, Infrastructure Planning and Network Planning. The Senior Underwriter, Stop Loss will underwrite accounts of a variety of Stop Loss programs for self-funded accounts.

This position is eligible for our Flex persona.

Key Accountabilities:

• Responsible for the accurate and timely calculation of Stop Loss New Business and Renewal quotations.
• Maintain adherence to Underwriting Guidelines and be responsible for approval of exceptions.
• Prepare complete underwriting analyses for New Business prospects and Renewals.
• Monitor and report on the profitability and persistency of the assigned book of business.
• Maintain consistent high level of service to our sales representatives and clients with respect to renewal and proposal timeliness and accuracy.
• Participate actively in both account renewal and new business presentations to existing and prospective policyholders and brokers/consultants.

Capabilities:

• Utilize Underwriting/Actuarial models to develop quotations and associated renewals, project future account performance, and propose alternative programs and/or financial arrangements when necessary.
• Leverage working knowledge of account specific rating strategies including lasering, aggregating specific and other creative underwriting approaches to minimize adverse selection.
• Make independent decisions consistent with stated UW guidelines and represent the financial needs of the Corporation at meetings with accounts and brokers/consultants.
• Will be expected to deal directly with Sales Staff, and/or their Consultant(s) in a consultative capacity as needed.

Education & Experience:

• Minimum of five (5) years underwriting or related experience is required.
• Must possess superior oral and written communication skills to explain difficult technical concepts to clients, consultants, and sales staff.
• Must have a working knowledge of health benefit programs and financial arrangements from both a risk and cash flow aspect.
• A creative problem solving ability is required. A highly motivated self starter is desired.
• Must be familiar with Excel and other Microsoft Office products software.
• An Undergraduate from an accredited college or university is required. Masters Degree preferred.
• Stop-Loss Insurance experience is desired.

Minimum Education Requirements:

High school degree or equivalent required unless otherwise noted above.

Location

Boston

Time Type

Full time

Salary Range

$96,930.00 - $118,470.00

The job posting range is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee’s pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, performance, shift, travel requirements, sales or revenue-based metrics, and business or organizational needs and affordability.

This job is also eligible for variable pay.

We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and a suite of well-being benefits to eligible employees.

Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company’s sole discretion, consistent with the law.

WHY Blue Cross Blue Shield of MA?

We understand that the confidence gap and imposter syndrome can prevent amazing candidates coming our way, so please don’t hesitate to apply. We’d love to hear from you. You might be just what we need for this role or possibly another one at Blue Cross Blue Shield of MA. The more voices we have represented and amplified in our business, the more we will all thrive, contribute, and be brilliant. We encourage you to bring us your true colors, your perspectives, and your experiences. It’s in our differences that we will remain relentless in our pursuit to transform healthcare for ALL.

As an employer, we are committed to investing in your development and providing the necessary resources to enable your success. Learn how we are dedicated to creating an inclusive and rewarding workplace that promotes excellence and provides opportunities for employees to forge their unique career path by visiting our Company Culture page. If this sounds like something you’d like to be a part of, we’d love to hear from you. You can also join our Talent Community to stay “in the know” on all things Blue.

At Blue Cross Blue Shield of Massachusetts, we believe in wellness and that work/life balance is a key part of associate wellbeing. For more information on how we work and support that work/life balance visit our How We Work Page.