Risk Selection Analyst

Beneva•Quebec, QC

7d•Hybrid

About The Position

The incumbent reports to the Director of Risk Selection. They analyze submissions from a highly competitive market for personal or commercial coverage for potential clients. They assess medical and lifestyle risks, perform financial underwriting, and determine if the risk is acceptable and its associated risk class for all individual insurance coverages. They calculate surcharges and determine exclusions. They draft endorsements that will modify the initial insurance application and become an integral part of the issued policy. They ensure all compliance rules are followed. They co-sign larger files and are paired with key advisors (VIPs) as part of the business development program.

Requirements

Bachelor's degree in health, administration, or equivalent.
Minimum of 3 years of experience as a risk selection analyst in personal insurance.
Advanced proficiency in French and English, both oral and written, due to the nature of the tasks and interactions with French-speaking and English-speaking colleagues, partners, clients, and/or suppliers.
Excellent medical knowledge and risk factor understanding.
Ability to analyze financial information.

Nice To Haves

Continue ALU (Academy of Life Underwriting) training.

Responsibilities

Analyze insurance applications and determine if there is an insurable interest between the owner and the insured.
Analyze personal and medical history declarations, analyze laboratory tests and MIB codes, taking into account the risk of anti-selection.
Accept, modify, refuse, or defer risks within their limit of authority.
Co-sign files exceeding the limits of certain underwriters for at least one type of coverage.
Determine the requirements and endorsements necessary for contract establishment, which will be an integral part of the contract to be issued.
Document decisions in the underwriting system and report codes to the MIB.
Analyze requests for modification of existing contracts and requests for reinstatement of lapsed contracts.
Communicate and explain unfavorable decisions to financial security advisors and general agents.
Support sales efforts by issuing preliminary underwriting opinions upon receipt of an insurance application for specific or impaired risks.
Continuously update knowledge in medical aspects and financial underwriting approaches for individual insurance. Continue ALU (Academy of Life Underwriting) training.