Job Description:
Employee Health & Benefits Underwriter
Position Overview:
The Employee Health & Benefits (EH&B) Underwriter supports the EH&B sales and service departments in placement of new and renewal business, including but not limited to preparing all aspects of Medical & Dental underwriting projections, bid specifications, and quote analysis; assists in negotiation of final rates, and prepares recommendations and analyses for client presentations.
This position will develop and maintain relationships with local insurance carrier contacts and is an internal resource for technical assistance for all levels of Sales and Service. The EH&B Underwriter will be responsible for participating in new business and renewal client meetings when appropriate.
The individual will be assigned a book-of-business and will be responsible for managing all Underwriting related activity in terms of expectations and output. This involves careful planning and strategizing with the EH&B service team and balancing workload.
What can you expect to do?
- Analyze carrier data on complex clients and provide recommendations to account teams to help with the negotiation of rates and funding levels
- Prepare and evaluate claim experience and utilization reports, as needed
- Develop Fully Insured Medical & Dental renewal projections
- Develop Self Insured Medical & Dental budgets and Working Rates
- Analyze and recommend optimal funding arrangements
- Assist in marketing, analysis and placement of Stop Loss coverages
- Price plan design and product alternatives
- Assist in modeling and setting Employee Contribution structures
- Assist in reviewing contracts, preparing RFP specifications, and identifying markets for proposals
- Assist in the workflow for monthly and quarterly financial reporting for clients
- Assist in negotiating rates with insurance carriers and other vendors
- Provide technical expertise, product updates, and training programs for the EH&B practice
- Follow industry development, changes, and legislative updates within all types of underwriting methodology, including but not limited to Medical, Dental, Life, Short and Long Term Disability (primarily Medical & Dental)
- Conduct special projects as needed
- Perform duties according to established EH&B procedures and operate as directed by EH&B Practice Leader
- Track expense components and admin increases for renewals by carrier and update FRAT (Financial Revenue Administration Tool) tool accordingly
What do we offer?
Generous benefits package:
- Comprehensive medical, dental and vision plans
- 401K and company match program
- Competitive paid time off programs ensure you have time to recharge including 15 vacation days, 3 personal days, 10+ holidays, 2 floating holidays, and 4 days for learning & development
- Company-paid life and disability
- Employee Stock Purchase Plan
- Paid parental leave
Love coming to work:
- Culture of respect that practices everything we preach
- Respect for the entrepreneurial spirit
- Place to grow, to be challenged - but also to feel that you belong
- Special way to give back to your community
- Entrepreneurial work environment and leadership style
- Office spaces designed to maximize innovation and collaboration
- A focus on taking time to celebrate success and build relationships
Growth and Development:
- Advance your career with MMA University
- Designation programs & CE courses
- Mentorship and leadership development programs
- Onsite learning opportunities
- Be appreciated and rewarded for your work
- Tuition reimbursement
What we look for:
- Minimum 5 years of experience in Large Group experience Underwriting with an insurance agency / brokerage / consulting firm and/or medical insurance carrier
- Thorough understanding of medical and dental underwriting practices
- General understanding of Brokerage Agency strategies and positioning between client and insurer
- Strong organizational, analytical, and decision-making abilities as well as interpersonal skills
- Solid ability to multitask and prioritize tasks and projects
- Proficiency in Microsoft Excel, Word, and Outlook
- License in Life, Accident and Health preferred; CEBS designation is a plus
- Good communication skills
- Ability to Maintain favorable relationships with clients, vendors and colleagues
- 4 year college degree
About Marsh & McLennan Agency:
Colleagues at MMA don't simply work together; they challenge each other to push further, think smarter, and love what they're doing together. Our shared purpose is to be there for our clients in the moments that matter. That's why working at MMA is a unique, exceptional experience. And that's why, at MMA, you can make a career that makes a difference.
Marsh McLennan Agency (MMA) is a full-service insurance, retirement, and risk management firm that specializes in providing proprietary solutions to small and middle market organizations dealing with the complexity of employee benefits and commercial insurance. As a subsidiary of Marsh, the world's largest broker and risk advisor, we provide clients with unparalleled access to local service, regional expertise and global resources. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients.Marsh McLennan Agency offers competitive salaries and comprehensive benefits and programs including health and welfare, tuition assistance, student loan repayment, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs.
We promote a culture of personal and professional growth and an environment where we ask our colleagues to challenge each other and themselves. We allow for people to bring their whole-self to work. We support flexible work arrangements and provide the technology to enable this. We expect mutual engagement, so colleagues who own their career and performance will thrive and have a real opportunity to craft their career path. We strive to provide growth opportunities and a platform to jump from with the safety net enabling great rewards and low risk. The biggest risks we ask people to take are to plan for success and engage honestly with a positive and solutions focused attitude.
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