Performs and supports underwriting functions as directed by supervisor in support of stated mission and key performance measures. Provides technical analysis and application of underwriting with rating tools and methodologies to produce rates / premium exhibits in accordance with small group objectives.
Fundamental Components & Physical Requirements include but are not limited to
(* denotes essential functions)
• Provides underwriting rate support for new business proposals. May include processing sold business rates, inforce changes and renewals (region specific). (*)
• Analyzes input / output for reasonability and accuracy (e.g., proposal, sold and renewal premiums, benefits, plan design options within state regulations, manual rates, benefit revisions, account structure, census and group demographics). Requests additional information as necessary and explains needs. (*)
• Utilizes rating tools, reference materials and other case specific information, for rate analysis and determination. (*)
• Develops and may explain basic rate proposals and may explain final rate exhibits. Communication is with internal and external constituents. (*)
• Builds and maintains relationships with producers, sales force and other internal and external constituents. (*)
• Tracks work performed and updates / maintains underwriting database. (*)
• Senior Position includes:
• - May review complex proposal and sold new business cases for completeness and compliance with Small Group Legislation and underwriting guidelines in regard to rating aspects (where applicable, region specific). (*)
• - Analyzes employer and employee data, with ability to make recommendations to underwriting specialists. (*)
• - Mentors less experienced rate analysts in the development of their rating tool knowledge, methodology and underwriting application. (*)
• - May participate in project work groups including process improvement initiatives.
• - Identifies system or process gaps and recommends possible solutions to resolve. (*)
• Exhibits the following Underwriting Analyst Behaviors
• 1 - 2 years experience in an underwriting support function.
• Proficient computer skills and knowledge of Microsoft Word, Excel and Access
Education and Certification Requirements
• Bachelor's degree preferred.
• High School Diploma or G.E.D.
Additional Information (situational competencies, skills, work location requirements, etc.)
• Understanding of insurance services, product standards, and underwriting processes & rating methodologies.
• Knowledge and understanding of state and federal legislation including, but not limited to multiple state's Small Employer legislation and regulations (SGR), HIPAA, COBRA and Medicare Legislation.
• Effective communication skills, both verbal and written.
• Ability to build relationships with internal and external constituents.
• Familiarity with Aetna systems a plus, but not required.
• Must enjoy working in a fast paced, team environment and be adaptable to changing priorities.