New Business Underwriting Specialist

3 weeks ago


Oregon IL United States Zurich 56 Company Ltd Full time
New Business Underwriting Specialist (Assistant Manager) Life Insurance

115433

Job Summary

Under limited supervision, underwrites and analyzes new and existing life business within delegated authority levels to achieve business goals and maximize customer experience.

Job Accountabilities - Key Accountabilities
  • Works closely with distributors and other operational areas to support the overall achievement of the business plan, demonstrating knowledge and influencing strategy relating to underwriting expertise, systems, procedures, and processes.
  • Completes assignments of high complexity while working within delegated authority.
  • Serves as an expert in specialist underwriting areas as needed, keeping up to date with any changes or developments in these areas.
  • Provides technical underwriting expertise and guidance to customers and distributors, consistently providing excellent customer service.
  • Contributes to the delivery of underwriting strategy by sharing best practices across territories and functions.
  • Creates productive distributor relationships by consistently requesting the correct evidence, making the correct decision, and explaining rating decisions.
  • Completes a range of queries and referrals within agreed authority limits, measuring the exposure and analyzing the risk of each case to maintain underwriting standards.
  • Proactively identifies and contributes to the development and improvement of technical underwriting standards, controls, practices, and procedures to better meet business goals.
  • Proactively identifies and contributes ideas and work for the development of new or enhanced propositions/procedures/philosophy, ensuring we charge the right premium for the associated risk.
  • Proactively and responsibly takes ownership for personal development and acts as a role model contributing to a positive and supportive team culture.
  • Facilitates quality for the team, providing feedback on errors and conducting root cause analysis of errors to avoid repeated mistakes; recommends change or remedial action where appropriate.
Business Accountabilities
  • Utilizes established financial systems to monitor profitability and growth of specialty areas of business and provides recommendations around aspects requiring change.
  • Develops a business case for a defined project in own area to determine potential benefits, clarify the rationale for investment, and support the planning process.
  • Has extensive knowledge of and recommends changes to policies, procedures, and governance tools to ensure they are up-to-date, reflect new policies, and facilitate implementation within own work area.
  • Researches primary data sources, selects relevant information, analyzes key themes and trends, and makes recommendations to update policy and/or inform product development.
  • Researches underwriting best practices and reviews and analyzes detailed rates, rating plans, and pricing strategies to support senior management in developing processes and systems which deliver optimal outcomes for the organization.
  • Acts as a technical expert in a process or product area, e.g., development of pricing tools, conducting process reviews, and initiating change in order to contribute to continuous improvement of customer services.
  • Provides specialist underwriting advice to address specific technical queries from internal clients and delivers appropriate solutions, in line with the organization's policies and processes and regulatory requirements.
  • Ensures underwriting follows agreed rules and frameworks and communicates across the organization to maintain relationships and provide assurance.
Job Qualifications

Required:
• Bachelor's Degree and 2 or more years of experience in the Underwriting area
OR
• High School Diploma or Equivalent and 4 or more years of experience in the Underwriting area
AND
• Experience with group life and disability insurance

Preferred:
• Strong verbal and communication skills

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