Lead Underwriting Consultant

Penn Mutual•Philadelphia, PA

1d•$125,000 - $165,000•Hybrid

About The Position

The Lead Underwriting Consultant underwrites and oversees the selection of risk for large, complex life insurance applications. The role manages underwriting services to support financial objectives, including profitability, production, and client persistency, and contributes to the development of underwriting processes, standards, and programs as well as reporting results. The position analyzes medical, non-medical, financial, qualitative, and quantitative information to make risk-selection, coverage, and pricing decisions. It supports underwriting quality and business planning, provides technical guidance and referral review, and collaborates with field and home-office partners to deliver quality service. The role works in a flexible hybrid environment, with the choice of where to work based on role and personal preference.

Requirements

7–10 years of underwriting experience.
College degree required; equivalent work experience in life underwriting may be considered.
Highly developed knowledge of the underwriting function.
General awareness of current affairs and corporate and external industry issues and trends.
Solid knowledge of insurance contract law and state legislative requirements.
Strong knowledge of insurance products, including plans, riders, benefits, illustrations, and how they are marketed.
Strong knowledge of the reinsurance marketplace and ability to work proactively with the field when reinsurance is an opportunity.
Thorough understanding of automatic reinsurance agreements.
Highly developed knowledge of medical science, technology, and terminology and their impact on mortality.
Highly developed knowledge of financial and other non-medical underwriting factors.
Thorough knowledge of financial and non-financial underwriting factors.
Thorough knowledge of product pricing.
Strong organizational, communication, and interpersonal skills.
Strong analytical skills and ability to define, research, and resolve problems.
Excellent knowledge of mainframe and PC environments.
Ability to create and maintain customer relationships.
Ability to prioritize and work effectively under deadlines while balancing published service times with appropriate customer focus.
Ability to comprehend, retain, and apply current technical information to daily work issues.
Ability to contribute positively by learning new skills and suggesting process or procedure improvements.
Ability to work collaboratively with others in a team environment.

Nice To Haves

FLMI, FALU, and ACS designations, or current coursework toward earning these certificates.

Responsibilities

Assist others in resolving complex issues while ensuring adherence to underwriting standards and objectives.
Assist with underwriting audits and other technical quality review programs.
Analyze qualitative and quantitative data and approve risk selection and acceptance, coverage, and pricing.
Analyze the quality and quantity of risks underwritten and prepare reports.
Participate in business planning supporting product, program, and policy development.
Participate in department initiatives and assist with recommending and implementing changes to improve productivity, profitability, growth, and quality.
Select and classify risks according to company philosophy and standards.
May assist with training and developing underwriters.
Maintain profitable mortality experience.
Analyze and interpret medical, non-medical, and financial information.
Make decisions within approval limits at 100% up to $15,000,000 standard to age 90.
Determine appropriate requirements.
Review and sign referrals from underwriters.
Identify and provide solutions to work-related problems and issues.
Communicate and collaborate with the field and home office to provide high-quality customer service.
Maintain positive and effective relationships with internal and external partners.
Participate in major projects.
Comply with company and site policies and procedures.
Remain current on professional and industry trends.
Complete regulatory and job training requirements.
Perform other duties as assigned.