Risk & Underwriting Advisor – Supplemental Health Solutions-Hybrid

2 months ago

Denver, United States The Cigna Group Full time

Job Description:

Underwriting at Cigna: If you’re looking to use strong analytical and math skills in a competitive, fast-paced environment, an Underwriting career at Cigna will allow you to do all this and more. Underwriters evaluate the risk of insuring a potential Cigna customer and use that information to set premium rates for insurance policies. As part of our Underwriting team, you will directly impact our business on a daily basis, protecting Cigna‘s sound financial position which enables us to meet our financial commitments to our customers.

The Risk Management & Underwriting Advisor – Supplemental Health Solutions is responsible for new and inforce business underwriting for Group Accidental Injury (AI), Critical Illness (CI) and Hospital Care (HC) insurance products. 

Candidates for this position will be required to quickly learn the Supplemental Health Solutions manual rating models and related pricing tools; knowledge of pricing adjustments and available plan designs; and an ability to assess financial risk based on multiple information sources.

New and inforce business underwriting for this position will focus on employer groups from 250 lives (focused on larger/complex employer groups) + supporting a variety of markets.  New business and inforce underwriting will consist of performing strategic case specific risk assessments to develop appropriate premium rates and plan designs for a given risk to support the market’s growth and profitability goals.

The underwriter is responsible for account level rate development and conducting customer negotiations with other underwriting areas, Sales and Account Management on their book of business. The underwriter will evaluate and analyze total case profitability and develop strategic recommendations related to market competition, product development, and market pricing decisions.   The underwriter will act with a sense of urgency to meet deadlines for all requests, and deliver accurate underwriting packages of the highest quality. 

This position will require assisting Sales and Account Management partners with underwriting data and financial exhibits on customer presentations. Collaboration with product/pricing matrix partners is also required to provide input on market level products and pricing needs.

Core Responsibilities:

  • Ability to quickly learn manual rating models and related pricing tools.

  • Perform case-specific risk assessments and rate development for presale and inforce business for large and complex cases independently.

  • Develops strategic recommendations related to market competition, product development, and market pricing decisions.

  • Drive consultative engagement with Sales and Producers/Clients through presale and inforce case level strategies, market discussions

  • Assist Sales as financial consultant on case-specific issues. Possesses an in depth understanding of manual rating models, pricing tools pricing adjustments and available plan designs.

  • Manages a complex an assigned Supplemental Health Solutions book of business, focused on attaining profitable growth, persistency, and earnings. 

  • Responsible for driving engagement with other Underwriting areas (Medical and Dental) to optimize cross-sale opportunities with a whole-case underwriting view.

  • Actively collaborates with product/pricing matrix partners to provide expertise/input on market level product and pricing needs.

  • Works autonomously.  Exercises judgment in the evaluation, selection, and adaptation of both standard and complex techniques and procedures.

  • Independently hold calls with Sales, brokers, or clients.

  • Mentors less experienced underwriters serving as technical and strategic subject matter expert on complex issues.

  • Influences underwriting best practices and leads by example to the rest of the team.

  • Leads or provides advanced professional input to complex Risk & Underwriting assignments/projects, partnering with management to provide innovative ideas and strategic input to continuously improve processes and efficiencies.

  • This role includes internal project work which makes up 10-15% of the time in role. Projects focus on strategy and process improvement.

Minimum Qualifications:

  • Bachelor's degree in the following majors and/or minors are preferred, but not required: Risk Management, Economics, Finance, Accounting, Management, Mathematics, and/or Business

  • 5+ years of supplemental health, medical, dental or life and disability underwriting experience required

  • Strong analytical and problem solving skills

  • Ability to manage complex cases and thrive in an ever-changing market segment.

  • Excellent decision making and negotiation skills

  • Excellent verbal and written communication skills

  • Passion and dedication to become a leader in the health service industry

  • Innovative thinking, customer-centricity and analytical problem-solving skills

  • Track record of leadership and influence

  • Demonstrated ability to effectively communicate with all levels of the organization


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