Senior Medical Stop Loss Underwriter

Beyond Risk Management Inc•Beverly, MA

About The Position

Stop Loss Management Partners (SLMP), a Beyond Risk Company, is looking for a Senior Medical Stop Loss Underwriter to join its growing team! Why SLMP? We are a leading Program Manager in the medical stop loss insurance industry, and specialize in providing innovative solutions and expert management services to optimize risk mitigation and financial protection for our business partners. Our commitment to excellence and partnership satisfaction drives our mission to deliver unparalleled service in the stop loss industry! We are a values-based organization where respect, integrity, excellence, collaboration, and passion define who we are and how we do business. The Senior Medical Stop Loss Underwriter is a consultative underwriter, managing a book of new and renewal medical stop loss business on behalf of our carrier partners. They work to develop strong relationships with assigned producer and TPA partners, providing an industry-leading level of service. This role works closely with Sales & Marketing on relationship development, with Risk Management throughout the underwriting process, and with the Policy Administration team to successfully close the loop on sold new business and renewal cases. This senior-level position is instrumental in helping the company to achieve their new business and renewal sales targets.

Requirements

Bachelor's degree in a related field or equivalent work experience.
Minimum of three years’ experience in medical stop loss underwriting
Experience with the Connexure (formerly David Young) ESL Office system required.
Strong analytical skills with the ability to interpret complex data.
Excellent attention to detail and accuracy in data entry and documentation.
Effective communication skills, both verbal and written, with the ability to interact professionally with relevant parties.
Proficiency in using relevant software applications, including claims management systems and Microsoft Office Suite.
Knowledge of regulatory requirements and industry standards related to medical stop loss insurance underwriting.
Ability to work independently and collaboratively in a fast-paced, deadline-driven environment.

Responsibilities

Reviews RFP submission to ensure accuracy of case setup and census and utilizes the provided underwriting system to enter plan benefits, requested terms, network discounting and expense information, and aggregate and specific claims experience to generate manual and experience-rated calculations for rates and factors.
Analyzes all provided case information to determine appropriate discounting within discretion authority to generate a stop loss proposal.
Analyzes competitive data and current rates and terms to determine competitiveness of pricing.
Documents the underwriting file completely and accurately with underwriting thought processes, producer and carrier communications, and any updated data received.
Submits initial proposals to producer partners within the requested time frame.
Consults with producers to offer creative insights and options that could aid in securing more competitive stop loss proposals, such as additional policy terms, cost containment strategies, or network considerations.
Conducts follow-up communication efforts on quoted business and a minimum of one annual check-in call to review the previous year’s partnership efforts and discuss long and short-term partnership goals.
Establishes a comprehensive strategy plan with Sales & Marketing annually to manage each shared individual producer relationship.
Ensures compliance with state regulations and carrier underwriting guidelines.
Obtains all appropriate disclosure data necessary to complete a medical underwriting review and addresses medical underwriting recommendations and concerns within the final issued proposal, as outlined in underwriting guidelines.
Engages with Management and Carrier partners as necessary to negotiate and develop firm and final proposals for targeted new business and renewal cases.
Utilizes creativity, industry knowledge, relationship development, and negotiation skills to close new business and renewal sales, helping the company achieve targeted sales and growth goals.
Upon sale of a new business or renewal stop loss case, obtains all information required to complete the stop loss application, and submits a complete file to the Policy Administration team to begin building the application packet.
Throughout the lifecycle of the policy, remains a resource and point of contact for producer and TPA partners, responding to inquiries within two business days, and utilizing the stop loss policy document to answer coverage questions.
Maintains an active Accident and Health producer license in their home state, completing required continuing education and renewals in a timely manner to remain compliant.
Stays abreast of industry news and trends and seeks out information for PPO networks and cost containment vendors that could impact overall plan costs for groups in underwriting.
Acts as a mentor for junior-level underwriters, providing on-the-job training and consultation to assist in their growth and development.
Maintains company standards as addressed in file quality audits.
Assists underwriting team members and other divisions as necessary, to help achieve company performance goals.
Monitors individual performance statistics compared to company performance goals to ensure targets are met, and takes appropriate action to address areas of difficulty, proactively seeking out Management assistance, as necessary.
Travels as needed for producer meetings and conferences, as assigned by Management.