Group Underwriting Consultant
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About The Position
The Group Underwriting Consultant at Elevance Health plays a crucial role in determining the acceptability of insurance risks and establishing appropriate premium rates for large and complex group cases. This position is recognized as a technical underwriting expert, responsible for a variety of tasks that ensure the financial viability and risk management of the company's insurance offerings. The consultant will engage in a hybrid work environment, requiring in-person attendance at an Elevance Health location at least once a week, with the possibility of more frequent visits depending on the specific role requirements. In this role, the consultant will calculate renewal rates for large complex cases, utilizing a thorough analysis of various factors such as experience, location, and demographics. They will also provide guidance to medical underwriters regarding the risk selection of applicants seeking individual health coverage. Collaboration with other departments is essential to ensure the accuracy and consistency of overall account reporting. The consultant will propose rates for prospective business by leveraging a combination of carrier experience, demographic data, and manual rates, and will conduct post-sale reviews to assess the effectiveness of underwriting decisions. Additionally, the consultant will prepare or supervise the preparation of annual settlements, ERISA reports, rate projections, and benefit change increments and decrements. They will monitor existing product portfolios by market, analyze sales results and trends, and recommend necessary changes to the product offerings. The consultant will also assist in establishing rating and administrative procedures, participate in major multi-functional teams as the underwriting representative, and contribute to the technical development of underwriting associates by providing insights on productivity and efficiency improvements. Furthermore, they will be responsible for updating and monitoring departmental processes and procedures to ensure compliance with system, regulatory, and business requirements.
