Binding Authority Underwriter

Ryan Specialty•Remote - Illinois, IL

3d•$89,600 - $112,000

About The Position

The Benefits Underwriter is responsible for quoting, rating and issuance of new business, quotes, renewals, and endorsements. The role will work closely with Specialty Sales, Claims and Operations, Finance, Legal, Risk and Compliance to help achieve strategic initiatives, which will assure the long-term growth of profits for Health.

Requirements

Bachelor’s degree in fields such as business, finance, economics, or a related field.
5 years of Health Insurance Underwriting or 3 years of experience with a master’s degree.
State Accident and Health Insurance license a plus.
Charter Healthcare Consultant (ChHC) or Registered Health Underwriter (RHU) is plus.

Responsibilities

Case underwriting of Health coverage for both renewals and new business (manual rating and experience rating)
Analyze, select, evaluate price risks, articulate underwriting analyses and identify corrective actions, if any, to sales team and broker contacts.
Deliver timely and accurate quotes/binder by determining premiums and calculate premiums based on the level of risk and the type of coverage requested.
Evaluate the risk associated with insuring applicants using underwriting software and guidelines.
Achieve new business premium targets, premium retention targets and loss ratio targets for assigned territory.
Servicing of assigned accounts and brokers, in conjunction with other Underwriting and Sales team members within assigned territory.
Prepare (where applicable) review and approval of case referrals.
Analyzing applicant information by reviewing medical histories, financial data, and other relevant information
Work closely with other functional areas: Claims; Actuarial; Operations; Finance; Legal and Compliance.
Liaise with internal stakeholders to ensure awareness of underwriting activities that require support and service.
Adherence to all internal and external compliance standards, including implementation of new standards.
Assist in achieving overall Ryan Specialty goal in collaboration with Distribution. Work closely and share responsibility for overall revenue goal through new business and retention targets.
Engage in ongoing education to stay current with industry trends, regulations, and best practices.
Quarterly self-audit process to assure 100% and timely compliance and take necessary actions on audit recommendations and findings.
Training to ensure compliance to underwriting authority and sales practice.
Strategize with other members of assigned territory team to identify target market segments and to develop broker distribution relationships.