Benefits Market Analyst

Unison Risk Advisors • Cleveland, OH

8d

About The Position

Responsible to coordinate the marketing and placement of a client’s employee benefit programs; prepares and presents RFPs to carriers to obtain quotes that meet the needs of existing and prospective clients; consults with team members to identify solutions that minimize risk and maximize cost effectiveness. A Day in The Life : Evaluates client data and coverage specifications to prepare RFPs (Request For Proposal) for submission to multiple insurance carriers. Obtains quotes for appropriate insurance coverages that include various benefit products and funding mechanisms. Reviews existing policies comprised of multiple product coverages including but not limited to medical, pharmacy, dental, vision, ancillary, and stop loss, and any new coverages needed to meet client plan objectives; compiles a complete, concise and understandable report for market submission. Evaluates and interprets the client's claim loss experience and any related financial information to ensure all data needed has been accurately identified and included in the RFP. Submits the RFP to the market, communicating the client's objectives; responds to any related questions and maintains collaborative relationships with all carriers and key business partners. Builds relationships with carrier partners to develop partnership and trust to enable collaborative working environment to best support the client needs Collaborates with Service Team to negotiate optimal pricing, policy provisions, terms and conditions Summarizes carrier quotations by comparing and interpreting policy design, provisions, terms and exclusions, and develops a coverage comparison document for client proposal and presentation. Knowledgeable in the changing insurance marketplace and each carrier’s portfolio make-up and risk preference; remains current in their financial strength and risk appetite. Evaluates network providers, service access and discount information to match client needs with the service deliverables required. Uses required agency systems to submit and track quote activity; ensures timely and complete responses; proactively works with service team to identify pipeline of future activity . Assists in the performance of peer reviews for other Benefits Market Analyst.

Requirements

• Bachelor degree in Business Administration or Communications from a four-year college or university
• Three to five years or more of related experience or the equivalent combination of education and experience.
• Familiarity with business-to-business insurance products and the carrier marketplace
• Strong organizational skills with ability to prioritize high work volume
• Attention to detail, prepares quality and accurate information
• Performs effectively with competing deadlines
• Strong written, verbal, and interpersonal communication skills
• Demonstrated resourcefulness when working independently and on a team
• Effective decision-making and reasoning skills
• Technical strength in understanding, and processing mathematical information
• Process oriented to drive efficient workflow
• Develops and maintains collaborative internal and external relationships

Responsibilities

• Evaluates client data and coverage specifications to prepare RFPs (Request For Proposal) for submission to multiple insurance carriers.
• Obtains quotes for appropriate insurance coverages that include various benefit products and funding mechanisms.
• Reviews existing policies comprised of multiple product coverages including but not limited to medical, pharmacy, dental, vision, ancillary, and stop loss, and any new coverages needed to meet client plan objectives; compiles a complete, concise and understandable report for market submission.
• Evaluates and interprets the client's claim loss experience and any related financial information to ensure all data needed has been accurately identified and included in the RFP.
• Submits the RFP to the market, communicating the client's objectives; responds to any related questions and maintains collaborative relationships with all carriers and key business partners.
• Builds relationships with carrier partners to develop partnership and trust to enable collaborative working environment to best support the client needs
• Collaborates with Service Team to negotiate optimal pricing, policy provisions, terms and conditions
• Summarizes carrier quotations by comparing and interpreting policy design, provisions, terms and exclusions, and develops a coverage comparison document for client proposal and presentation.
• Knowledgeable in the changing insurance marketplace and each carrier’s portfolio make-up and risk preference; remains current in their financial strength and risk appetite.
• Evaluates network providers, service access and discount information to match client needs with the service deliverables required.
• Uses required agency systems to submit and track quote activity; ensures timely and complete responses; proactively works with service team to identify pipeline of future activity .
• Assists in the performance of peer reviews for other Benefits Market Analyst.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level