Group Underwriter Job Description
Group underwriter
provides underwriting support for Hong Kong/SEA regions for Group & Individual health insurance policies.
Group Underwriter Duties & Responsibilities
To write an effective group underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included group underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
The Sr
Manage risk for life insurance applications and inforce contracts
Manage the day to day workflow, training and technical development of high level underwriters
Align underwriter goals to strategic growth initiatives including sales goals
Support product development, actuarial/pricing, new business and sales distribution
Create underwriting guidelines to include in an internal underwriting manual and field underwriting guide
Maintain in depth knowledge of financial, regulatory and legal aspects of risk selection and document accordingly in SOP format
Stay abreast of mortality research, best practices, clinical testing and current medical practices
Provide second reviews for all cases with high face amounts or older aged applicants and audit of staff's work
Set underwriting criteria for age/amount requirements and preferred criteria
Group Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Group Underwriter
List any licenses or certifications required by the position: CEBS, GR1, GBA
Education for Group Underwriter
Typically a job would require a certain level of education.
Employers hiring for the group underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, Finance, Education, Math, Accounting, Economics, Management, Mathematics, Statistics, MBA
Skills for Group Underwriter
Desired skills for group underwriter include:
Underwriting concepts and techniques of general health insurance and benefit funding designs/methodology
Health insurance industry
Underwriting concepts and techniques and general health insurance and benefit and funding designs/methodology
Job area typically obtained through advanced education combined with experience
Underwriting principles and procedures
Financial analysis modeling software
Financial principles and concepts
ASO
Flex funding and refund accounting
Medical underwriting principles
Desired experience for group underwriter includes:
Meaningful corporate credit transaction experience, ideally involving lending to agribusiness and food industry companies
One (1) year of commercial banking experience
Review contestable claims
Maintain operating expense within budget
Directs activities related to case underwriting, including determination of insurability or limits of insurability, application approvals, denials and ratings
Develop efficient underwriting, overall risk assessment and risk management processes
Group Underwriter Examples
1
Group Underwriter Job Description
Job Description Example
Our growing company is hiring for a group underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for group underwriter
- Review and approve applications exceeding approval limits of the life underwriters
- Coordinated track of all sensitive result cases
- Analyze and interpret medical and non-medical information to assess the medical risk of Group Plan Members and their dependents requesting Group Life, Health, Critical Illness, and Disability coverage
- Effectively communicate with Plan Members, Plan Sponsors, and medical professionals regarding individuals and their health
- Provide support and excellent customer service to Plan Members and Plan Sponsors who have questions regarding their benefits and group insurance plan
- Develop and maintain positive co-operative working relationships with Group Benefits business partners to deliver excellent customer service to Plan Members and Plan Administrators
- Research ABS, industry and company information and produce market commentary
- Evaluate potential transactions to determine the quality of lending opportunities and appropriate transaction structure to maximize return on investment
- Perform due diligence including industry, company and financial analysis
- Perform internal deal screening, risk analysis, and pricing analysis and assist with the internal credit approval process
Qualifications for group underwriter
- Bachelors degree in business, finance, economics, mathematics, and/or related field
- Minimum of 4 years of Group Insurance Underwriting and/or Special Risk Underwriting skills and experience
- Minimum of 5 years progressive experience working in group insurance environment and 3+ years of experience working in underwriting environment
- Must complete a basic Math test
- Bilingual in French and English with excellent verbal and written communication skills
- University degree or college diploma with concentration in medical or health sciences
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Group Underwriter Job Description
Job Description Example
Our company is looking to fill the role of group underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for group underwriter
- Prepare internal memoranda for review and approval of new transactions
- Maintain detailed financial models
- Maintain all operational aspects of a transaction from deal initiation to close
- Responsible for the overall management of Group Life & Disability underwriting (5,000 or more lives) for National Accounts
- Mentors Regional Account underwriters and other staff members
- Evaluate an individual's medical history, physical condition and other pertinent information to determine if the level of risk is acceptable based on the Group Life underwriting rules by reviewing all underwriting forms and applicable eligibility provisions
- Determines type of information necessary to fulfill underwriting requirements
- Continue building knowledge of the underwriting and online workflow processes
- Continue professional development activities and coursework
- Provide guidance to less experienced underwriters and act as a subject matter expert as needed
Qualifications for group underwriter
- Proficient in Excel, Word, and Lotus Notes, and
- Experience in Finance, Banking and/or Lending
- Experience in both recourse and non-recourse lending preferred
- Progress toward CFA
- Able to work in a team environment, while interacting with multiple teams and multiple deals concurrently
- Familiarity with financial products available to financial institutions, including cash flow lending, bond issuance, secured recourse lending, non-recourse lending
3
Group Underwriter Job Description
Job Description Example
Our innovative and growing company is hiring for a group underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for group underwriter
- Maintains and assists in the development of eligibility guidelines and manuals
- Evaluates business banking loan requests ($2 - 30 million), using a thorough knowledge of loan policy, guidelines and procedures
- Analyzes and validates customer borrowing base reporting for formula based lines of credit
- Maintains tickler system for accurate tracking and reporting of borrower required reporting including financial statements, tax returns, covenants
- Monitors an assigned credit portfolio and completes annual reviews
- Reviews requests for quotes, develops and reviews bid specifications, benefit plan design features and financial alternatives for complex, fully insured cases alternative funding arrangements
- Participates in discussions and negotiates with sales reps on new and renewal business
- Reviews renewal policies for eligibility, new business to ensure that all policy documentation is in place, and decisions made by underwriting assistants to ensure long term profitability
- Determines acceptability of renewals utilizing loss control inspections, motor vehicle records, Dunn & Bradstreet reports, loss experience reports and underwriting filings
- Reviews and revises pricing and coverage to ensure premiums charged are commensurate with the exposure
Qualifications for group underwriter
- At least 3 years of capital markets experience or at least 3 years of banking experience
- Producing Group Life, Income Protection and Serious Illness new business quotations & reviewing existing schemes
- Maintaining a high level of service to brokers, field staff and other internal departments
- Proactive input into the development of the team’s underwriting processes and standards
- Product development and working on analysis projects
- Supporting the sales team at broker meetings and new business presentations
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Group Underwriter Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of group underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for group underwriter
- Examines loss notices, desirability of risk notices from claims and recommends appropriate action
- Assists rating technicians on rating decisions
- Coordinates with the processing manager the processing of non-renewal and conditional renewal notices within time frame as required of the Department of Insurance
- Actively engaged in key accounts within the team
- Within company guidelines, appraise and evaluate risk for cases 50-499 lives
- If applicable, with guidance, provide high risk decisions for business through brokers and Third Party Administrators (TPAs) by reviewing and analyzing the information on each risk
- May answer questions, provide/verify information, services, evaluate morbidity/mortality risks by coverage
- Conduct Risk Management review on PHA’s to evaluate if this applicant is an appropriate risk based on Medical Underwriting Guidelines
- Within company guidelines, reviews and medically underwrites highly complex applications, requesting necessary information either by phone interview, or letter
- Provide technical and risk assessment direction to staff
Qualifications for group underwriter
- 3rd level degree in a mathematical based subject
- Excellent Excel skills and proficiency in Word and PowerPoint
- Be enthusiastic and ambitious
- Demonstrate flexibility to meet tight deadlines, when required
- Work in a systematic, methodical and orderly way
- Intermediate to advanced working knowledge of MS Excel is preferred
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Group Underwriter Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of group underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for group underwriter
- Support front-end quality audit functions, as needed
- Support training, as needed
- Assists in development and review of procedures to ensure consistency in processing
- Ability to recognize, analyze and communicate trends
- Represents medical underwriting on projects, as needed
- Ability to independently lead functional projects
- Provides business information and support for client presentations at critical points such as initial sale and renewal
- Act as a resource for legal issues and insurance department complaints
- Respond to all requests within the designated turnaround time
- Acts as a SME for Critical Illness, Accident and Hospital Indemnity product lines
Qualifications for group underwriter
- 1-3+ years of experience in underwriting pricing methodologies and funding arrangements preferred
- Knowledge of rating and/or accounting and underwriting concepts preferred
- Proven Underwriting experience
- Demonstrates sound judgement
- A Bachelor's Degree (preferably in a relevant field such as Actuarial Sciences, Finance, Economics, Risk Management, ) or equivalent relevant professional experience required
- High school degree or equivalent and 2+ years of relevant experience required (experience in health underwriting or underwriting strongly preferred)