Stop Loss Underwriter

Blue Cross and 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 for Stop Loss programs to enhance their underwriting team. This role involves calculating new business and renewal quotations, adhering to underwriting guidelines, and preparing comprehensive analyses for various accounts. The ideal candidate will possess strong communication skills to convey complex concepts and a solid understanding of health benefit programs. Join a dynamic team that values innovation and offers a comprehensive benefits package, including paid time off and health insurance. If you are a motivated self-starter with a knack for problem-solving, this opportunity is perfect for you.

Benefits

Paid Time Off

Medical Insurance

Dental Insurance

Vision Insurance

401(k) Plan

Well-being Benefits

Qualifications

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

Responsibilities

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

Skills

Underwriting

Communication Skills

Problem Solving

Excel

Health Benefit Programs Knowledge

Education

Undergraduate Degree

Master's Degree

Tools

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

Blue Cross Blue Shield of Massachusetts is an Equal Employment / Affirmative Action Employer. Applicants are considered for all positions without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or expression, or any other characteristics protected by law.

Blue Cross Blue Shield of Massachusetts will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.