Underwriter I

Capital Blue Cross•Harrisburg, PA

2d•$49,300 - $92,885

About The Position

The Underwriter I is responsible for pricing benefit plans, renewal underwriting, prospective dental rate development, experience analysis, and settling terminating and continuing financial arrangements. The role also performs actuarial assignments and serves as a consultant to Marketing Account Executives, providing advice, presenting information to groups, and informing department management about the financial consequences of existing or proposed insurance arrangements. It uses mathematical, financial, and analytical skills to research data, develop projections, and formulate proposals and recommendations that support business objectives. The position also approves financial contract pages for renewing groups. The role prepares quotes and renewals, analyzes exceptions, supports Sales in explaining renewal calculations, and reviews financial contract language. It may accompany senior underwriting staff and management on account calls and help develop and present unique settlement and financing arrangements. Minor applications for rating and actuarial analysis may be designed, modified, and programmed, generally under a Senior Underwriter’s direction.

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 based on Capital Blue Cross underwriting and rating requirements and policies.
Present rate exceptions with supporting analysis and recommendations to management for review and approval.
Consult with Sales, Sales Management, and Underwriting Management in support of renewal rate actions and quotes.
Support Sales in justifying 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 a 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 covered by standard guidelines.
Perform actuarial assignments, experience analysis, and settlement of terminating and continuing financial arrangements.