Underwriter I

Capital Blue Cross; United States; On-site; USD 95,000 - 130,000; Full time

Job summary

Capital Blue Cross pricing actuarial plans and performing renewal underwriting to develop rate quotes for groups. This role supports marketing with financial projections and approves contract language for renewals.

Requires a bachelor’s degree in mathematics/finance or related field and at least 2 years’ underwriting/actuarial experience. The position involves collaboration with Sales and Underwriting to communicate financial implications of insurance arrangements.

Qualifications

• Strong analytical skills and a sound understanding of medical statistics, enrollment and provider data.
• Ability to abstract a financial arrangement into theoretical mathematical structures.
• Ability to effectively explain technical issues and provide consultative services to internal and external stakeholders in both written and verbal form.

Responsibilities

• Prepares rate quotations for prospective groups, benefit changes for current groups and rate renewals for current groups based on Capital Blue Cross underwriting and rating requirements and policies.
• Presents rate exceptions with appropriate analysis and recommendations for action to management for review and approval.
• Consults with Sales, Sales Management and Underwriting Management in support of renewal rate actions and quotes.
• Supports Sales in justifying renewal calculations through the creation of various exhibits and analyses.
• Designs, modifies and programs minor applications on the microcomputer that apply to rating structures and actuarial analyses used by the Plan, generally under the direction of the Senior Underwriter.
• Reviews and approves financial contract language for renewing groups.
• Accompanies Sr. Underwriter and department management on account calls to present renewals, and rate quotations.
• Assists in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines.

Skills

Analytical skills

Financial analysis

Underwriting knowledge

Rate quotations

Consultative communication

Education

Bachelor's degree in Mathematics/Finance

Job description

Position Description

Base pay is influenced by several factors including a candidate's qualifications, relevant experience, and anticipated contributions to meet the needs of the business, along with internal pay equity and external market-driven rates. The salary range displayed has not been adjusted for geographical location. This range has been created in good faith based on information known to Capital Blue Cross at the time of posting and may be modified in the future.

Capital Blue Cross offers a comprehensive benefits packaging including Medical, Dental & Vision coverage, a Retirement Plan, generous time off including Paid Time Off, Holidays, and Volunteer time off, an Incentive Plan, Tuition Reimbursement, and more.

At Capital Blue Cross, we promise to go the extra mile for our team and our community. This promise is at the heart of our culture, and it's why our employees consistently vote us one of the "Best Places to Work in PA.".

The position is responsible for pricing benefit plans, renewal underwriting, prospect dental rate development and experience analysis and settlement of terminating and continuing financial arrangements. It is also responsible for performing various actuarial assignments. The position functions as a consultant by providing advice to marketing's Account Executives, presenting information to groups and informing department management of the financial consequences of existing or proposed insurance arrangements. Mathematical, financial and analytical skills are utilized to research data, develop projections and formulate appropriate proposals and recommendations to achieve business objectives. The position is also responsible for approving the financial contract pages for renewing groups.

Responsibilities and Qualifications

• Prepares rate quotations for prospective groups, benefit changes for current groups and rate renewals for current groups based on Capital Blue Cross (Capital) underwriting and rating requirements and policies.
• Presents rate exceptions with appropriate analysis and recommendations for action to management for review and approval.
• Consults with Sales, Sales Management and Underwriting Management in support of renewal rate actions and quotes.
• Supports Sales in justifying renewal calculations through the creation of various exhibits and analyses.
• Designs, modifies and programs minor applications on the microcomputer that apply to rating structures and actuarial analyses used by the Plan, generally under the direction of the Senior Underwriter.
• Reviews and approves financial contract language for renewing groups.
• Accompanies Sr. Underwriter and department management on account calls to present renewals, and rate quotations.
• Assists in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines.

Education and Experience:

Requires a bachelor's degree in mathematics, Finance, Statistics, Accounting or a related business field OR a minimum of 2 years' experience in underwriting/actuarial functions.

Knowledge:

• Knowledge of mainframe and microcomputer applications used in rating process.
• Competent understanding of managed care theory and familiarity with the PA insurance regulatory environment.
• Knowledge of financial and accounting concepts, terminology and reports.

Skills:

• Strong analytical skills and a sound understanding of medical statistics, enrollment and provider data.
• Ability to abstract a financial arrangement into theoretical mathematical structures.
• Ability to effectively explain technical issues and provide consultative services to internal and external stakeholders in both a written and verbal format

Physical Demands:

Sedentary work involving significant periods of sitting, talking, hearing, keying and performing repetitive motions.

Work required visual acuity to perform close inspection of written and computer-generated documents as well as a PC monitor.

Working environment includes typical office conditions.

About Us

We recognize that work is a part of life, not separate from it, and foster a flexible environment where your health and wellbeing are prioritized. At Capital you will work alongside a caring team of supportive colleagues and be encouraged to volunteer in your community. We value your professional and personal growth by investing heavily in training and continuing education, so you have the tools to do your best as you develop your career. And by doing your best, you'll help us live our mission of improving the health and well-being of our members and the communities in which they live.