Underwriter I

Capital Blue Cross•Harrisburg, PA

About The Position

The Underwriter I is responsible for pricing benefit plans, conducting renewal underwriting, developing prospective dental rates, analyzing experience, and settling terminating and continuing financial arrangements. The role also performs actuarial assignments and consults with Marketing’s Account Executives by providing advice, presenting information to groups, and informing department management of the financial consequences of existing or proposed insurance arrangements. The position uses mathematical, financial, and analytical skills to research data, develop projections, and formulate proposals and recommendations to support business objectives. It also approves financial contract pages for renewing groups. The Underwriter prepares rate quotations and renewals, analyzes rate exceptions, supports Sales with renewal explanations and analyses, and reviews financial contract language. The position may accompany senior underwriting staff and department management on account calls, and helps develop and present settlement and financing arrangements outside standard guidelines. It designs, modifies, and programs minor computer applications for rating structures and actuarial analyses, generally under the direction of the Senior Underwriter.

Requirements

Bachelor’s degree in mathematics, finance, statistics, accounting, or a related business field, or a minimum of 2 years of experience in underwriting or actuarial functions.
Knowledge of mainframe and microcomputer applications used in the rating process.
Competent understanding of managed care theory and familiarity with the Pennsylvania insurance regulatory environment.
Knowledge of financial and accounting concepts, terminology, and reports.
Strong analytical skills and a sound understanding of medical statistics, enrollment, and provider data.
Ability to abstract a financial arrangement into theoretical mathematical structures.
Ability to explain technical issues effectively and provide consultative services to internal and external stakeholders in written and verbal formats.

Responsibilities

Prepare rate quotations for prospective groups, benefit changes for current groups, and rate renewals for current groups in accordance with Capital Blue Cross underwriting and rating requirements and policies.
Present rate exceptions to management with appropriate analysis and recommendations for review and approval.
Consult with Sales, Sales Management, and Underwriting Management to support renewal rate actions and quotes.
Support Sales in explaining renewal calculations by creating exhibits and analyses.
Design, modify, and program minor microcomputer applications for rating structures and actuarial analyses, generally under the direction of the Senior Underwriter.
Review and approve financial contract language for renewing groups.
Accompany the Senior Underwriter and department management on account calls to present renewals and rate quotations.
Assist in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines.
Perform actuarial assignments, including researching data, developing projections, and formulating proposals and recommendations.
Provide advice and information to Marketing’s Account Executives, groups, and department management about the financial consequences of insurance arrangements.