Senior Underwriter

Foresters Financial•Las Vegas, NV

13d•Remote

About The Position

The Senior Underwriter evaluates life insurance applications using recognized underwriting principles, assessing health, financial, lifestyle, and other risk factors to determine the appropriate underwriting rate class while maintaining service levels and acceptable mortality results. The role works closely with company stakeholders, including New Business, Actuarial, Claims, and Distribution. The incumbent reviews applications for new business, reinstatements, and coverage changes; gathers and analyzes information needed to assess risk; and makes underwriting decisions within assigned approval limits and company policies. The role also communicates decisions and information requests to producers and members, coordinates medical and other assessments, refers cases for reinsurance when needed, and consults with the Chief Underwriter or Medical Director on relevant cases. Travel to the head office in Toronto, Ontario, Canada, is required. Eligible employees may participate in a discretionary variable incentive plan, subject to individual and company performance.

Requirements

At least five years of underwriting experience.
Achieved the AALU designation and working toward FALU/FLMI designations.
Strong medical and financial underwriting knowledge.
Experience with simplified issue and final expense products.
Strong knowledge of underwriting theory, principles, methods, systems, processes, and standards, gained through Part One of the Academy of Life Underwriting program and underwriting experience.
Consultation skills to make consistent and appropriate underwriting decisions within Foresters policies and standards.
Consultation and communication skills to request information from a broad range of resources and professionals.
Knowledge of interpreting and applying underwriting legislation and regulations across the United States.
Knowledge of Foresters’ purpose, goals, and objectives to ensure decisions comply with company policies and standards.
Ability to learn and understand Foresters insurance products and contract provisions in detail to review and assess applications and make effective underwriting decisions.

Responsibilities

Review insurance application files for new business, reinstatements, and coverage change requests.
Establish and maintain effective relationships with producers, including communicating underwriting decisions.
Balance investigative costs for tests and assessments against risk-management requirements; determine the steps and additional information or professional assessments needed to evaluate applications.
Order required medical tests and assessments, arrange additional assessments through professional contacts, and contact producers for missing application information.
Research, interpret, and analyze information relevant to applications, including product details, legislation, rate manuals, medical and drug references, insurance history, motor vehicle reports, and other sources; access confidential medical information through the Medical Information Bureau (MIB).
Document applicant files in underwriting systems as information arrives, and code and enter data from medical reports into the information system.
Complete underwriting assessments after reviewing all required information, considering factors such as business income and risk of financial loss; consult with the Chief Underwriter on complex issues as required.
Finalize underwriting decisions within approval limits assigned by the Chief Underwriter; distinguish standard, preferred, and preferred-plus risks; and authorize issuance of new or revised insurance certificates for approved applications.
Refer application files for reinsurance when required.
Compose correspondence to members and producers about required information and possible reconsideration; prepare approval or decline advisory letters and, for declines, letters containing confidential medical information for the applicant’s physician.
Participate in research and analysis of underwriting legislation, regulations, issues, and trends, and in reviewing and developing underwriting policies, procedures, systems, and standards as assigned by the Chief Underwriter.
Work with the Medical Director on cases as required.
Perform other projects and duties as assigned.