Senior Associate, Underwriter

New York Life Insurance•Philadelphia, PA

3d•$75,000 - $90,000•Hybrid

About The Position

The Senior Associate, Underwriter works within New York Life’s Group Benefit Solutions Underwriting Organization, which partners with Sales, Client Management, Pricing, Risk Management, and other business partners to evaluate and manage risk. The organization analyzes employer group characteristics and plan designs to determine rates for Life, Accident, Disability, and Absence products, with a focus on profitable growth and persistency. The Underwriter evaluates data from sources including group demographics, industry research, and actuarial tools to assess employer group risk and determine appropriate plan designs and premium rates. The role consults with sales representatives and brokers to explain analyses and balance risk and profitability. It also contributes to underwriting processes, training, mentoring, product development, and pricing recommendations. The position is hybrid, with remote work on Mondays and Fridays and onsite work Tuesdays through Thursdays. Listed locations are Philadelphia, Pennsylvania; Bloomfield, Connecticut; Chattanooga, Tennessee; Overland Park, Kansas; and Phoenix, Arizona.

Requirements

Bachelor’s degree or equivalent work experience.
At least 5 years of Group Life, Accident, Long Term Disability, Short Term Disability, and Absence underwriting experience, or other relevant experience.
Demonstrated knowledge of large employer groups with multi-carrier product offerings and awareness of marketing drivers beyond group-insurance-specific dynamics.
Thorough knowledge of risk factors that influence market and competitive conditions.
Ability to make effective decisions based on strong knowledge of financial and risk levels, both internal and external.
Strong time management skills; highly organized and detail-oriented.
Ability to foster strong working relationships.
Strong interpersonal and communication skills.
Ability to communicate complex ideas and persuade and negotiate effectively.
Ability to lead discussions and deliver external presentations and analysis to a diverse client base.

Responsibilities

Perform case-specific risk analysis and develop appropriate premium rates to support market growth and profitability goals.
Develop account-level rates and conduct customer negotiations with Sales for a more complex book of business.
Develop strategic recommendations related to market competition, products, and pricing.
Manage an assigned book of business, focusing on profitable growth, persistency, and earnings.
Partner with Sales and brokers to deliver customer presentations and act as a financial consultant on case-specific issues.
Influence underwriting best practices and provide input to matrix partners on product development and pricing.
Mentor and train less-tenured underwriters, supporting their understanding of risk management and underwriting and their technical knowledge and competency development.
Act as a trusted resource and technical expert to the team and matrix partners.