Sr. Underwriter - Life Insurance

Sammons Financial Group • Sioux Falls, SD

4d • $69,523 - $115,871

About The Position

Evaluate applications for life insurance to classify risks by using company risk selection standards while promoting additional sales of quality business.
What You'll Do In This Role

• Obtain the information necessary, based on the circumstances of each case, to evaluate each proposed insured’s qualification for the plan and amount of life insurance applied for.
• Call the Agent on every case where an adverse underwriting decision is involved to explain the reason and discuss alternatives, including the use of facultative reinsurance.
• Help Regional Sales Directors and MGAs build their business by leading customized Game Plans and attracting new producers.
• Initiate communication with agents and providers to facilitate the application and policy issue process; use the most effective means of communication available - telephone, facsimile, electronic mail, etc.
• Direct Case Managers in obtaining required information and in providing information to agents, other employees and service providers.
• Provide guidance to the Case Manager in screening applications for Jet Issue.
• Take final action on cases as authorized by the Manager, Underwriting pertaining to case size and mortality class; refer cases outside authorized limits to underwriting personnel with the requisite authority.
• Handle an assigned workload as determined by the Manager, Underwriting.
• Assist the Manager, Underwriting as directed in handling problems and questions from agents, applicants or policyholders, regulatory authorities and service partners.
• Assist Underwriter Trainees, Underwriters and other staff in the training required to meet performance objectives.
• Acquire and expand medical and non-medical knowledge as it relates to risk classification in order to fairly evaluate applications in a timely manner.
• Establish and maintain internal contacts to facilitate answering questions related to submitted business, changes, conversions, reinstatement and agency or marketing matters.
• Develop professionally through ALU, CLU and other studies to improve skills and judgment and contribute to the Underwriting Department’s capability to maintain a leadership role in risk classification.
• Provide support to management on evaluations and progress reviews for Case Managers.
• Complete projects and audits as directed by the Manager, Underwriting.
• Be a leadership shadow for newer Underwriters and other employees in work excellence and Company loyalty.
• Adhere to Guiding Principles for the Underwriter as endorsed by Association of Home Office Underwriters.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

Requirements

• Bachelor's Degree or equivalent industry related experience Required
• 4-6 years of life insurance underwriting with above average performance or approval authority of $2M or above Required
• Specialized knowledge and experience in life underwriting and risk selection with proven decision-making ability Required
• Knowledge of medical and non-medical risk factors and the ability to apply these factors in reaching the most favorable underwriting decision Required
• Excellent decision making skills with the ability to solve problems innovatively to find ‘win-win’ solutions
• Strong verbal and written communication skills
• Self-starter with excellent teamwork skills; ability to work independently to accomplish work goals and a willingness to sacrifice personal goals to help achiever overall team success
• Superior ability to listen and be responsive to customers and who can sell difficult decisions while showing empathy
• Desire and ability to effectively work with diverse personalities
• Proven behaviors consistent with the Company Values: Openness, Integrity, Accountability, and Respect
• Ability to be open to coaching and constructive feedback to become more effective and improve performance
• Ability to assist Regional Sales Directors build their business by leading customized Game Plans and attracting new producers
• Ability to conduct presentations
• LOMA I and II Required
• Travel as needed to participate in agency meetings

Nice To Haves

• FLMI Preferred

Responsibilities

• Obtain the information necessary, based on the circumstances of each case, to evaluate each proposed insured’s qualification for the plan and amount of life insurance applied for.
• Call the Agent on every case where an adverse underwriting decision is involved to explain the reason and discuss alternatives, including the use of facultative reinsurance.
• Help Regional Sales Directors and MGAs build their business by leading customized Game Plans and attracting new producers.
• Initiate communication with agents and providers to facilitate the application and policy issue process; use the most effective means of communication available - telephone, facsimile, electronic mail, etc.
• Direct Case Managers in obtaining required information and in providing information to agents, other employees and service providers.
• Provide guidance to the Case Manager in screening applications for Jet Issue.
• Take final action on cases as authorized by the Manager, Underwriting pertaining to case size and mortality class; refer cases outside authorized limits to underwriting personnel with the requisite authority.
• Handle an assigned workload as determined by the Manager, Underwriting.
• Assist the Manager, Underwriting as directed in handling problems and questions from agents, applicants or policyholders, regulatory authorities and service partners.
• Assist Underwriter Trainees, Underwriters and other staff in the training required to meet performance objectives.
• Acquire and expand medical and non-medical knowledge as it relates to risk classification in order to fairly evaluate applications in a timely manner.
• Establish and maintain internal contacts to facilitate answering questions related to submitted business, changes, conversions, reinstatement and agency or marketing matters.
• Develop professionally through ALU, CLU and other studies to improve skills and judgment and contribute to the Underwriting Department’s capability to maintain a leadership role in risk classification.
• Provide support to management on evaluations and progress reviews for Case Managers.
• Complete projects and audits as directed by the Manager, Underwriting.
• Be a leadership shadow for newer Underwriters and other employees in work excellence and Company loyalty.
• Adhere to Guiding Principles for the Underwriter as endorsed by Association of Home Office Underwriters.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

Benefits

• Sammons Financial Group offers a competitive benefit package that includes: Health, Dental, Vision, Company Paid Retirement, PTO and Holiday Pay.
• Our Employee Stock Ownership Plan (ESOP) is a 100% company-funded retirement plan, so you can save for retirement without contributing a penny of your own paycheck.
• Healthy balance between work and personal lives. Friday afternoons off all year long, competitive PTO, and generous number of paid holidays.
• Our incentive program for defined goals subject to eligibility and performance. Monetary rewards are based on individual and/or overall company performance.
• Colleagues who support one another, model our core values, and drive our healthy, high-performing culture.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level