Underwriter I

Job Summary

Evaluates standard data to understand premium, claim, exposure, and population. Works with team to identify actionable data insights and irregularities. Learns to use and document models, tools, and assumptions that support business strategy analysis and risk management. Supports the implementation of quality and process improvement efforts. Learns to work in support of department initiatives, program, and enterprise goals.

With guidance, assesses risk of accounts. Develops basic knowledge of the external business environment. With guidance, presents renewal recommendations to clients/organization. Based on guidance, collaborates internally to develop case/investment strategies. Assists in developing rates and account plans that mitigate risk. Reviewing information to support rate negotiations.

Under supervision, ensures external understanding of underwriting approach. Helps address data needs and requests. Learns to build relationships with customers and channel partners. Under significant guidance, works with internal partners to bring financial solutions to customers. Learns to provide and leverage self/peer review of own work. Maintains compliance with relevant policies, guidelines, and procedures.

Essential Responsibilities

• Pursues effective relationships with others by sharing information with coworkers and members. Listens to and addresses performance feedback. Pursues self-development; acknowledges strengths and weaknesses, and takes action. Adapts to and learns from change, challenges, and feedback. Responds to the needs of others to support a business outcome.
• Completes routine work assignments by following procedures and policies and using data, and resources with oversight and management. Collaborates with others to address business problems; escalates issues or risks as appropriate; communicates progress and information. Adheres to established priorities, deadlines, and expectations. Identifies and speaks up for improvement opportunities.
• Supports the analysis and reporting of data by: evaluating standard data to understand premium, claim, exposure, and inform understanding of population risk, with guidance from the team; developing a basic understanding of how to evaluate credibility, utilization, and risk based on population size and prior predictive behavior of the pool/account; working with team to identify actionable insights and potential data irregularities based on guidance; learning to use models (e.g., rate models and benefit pricing tools) and data analytics tools that support the analysis of business strategy and financial/underwriting risk management; and consistently documenting models, tools, assumptions, and data elements for increasingly complex accounts, as required.
• Completes case and underwriting work by: processing account activities (e.g., running reports, re-quotes, investments, sold rates) for customers and/or book of business under close supervision; in collaboration with internal departments, following established methodologies and protocols, with guidance, to develop rates that appropriately mitigate risk for the organization and optimize sustainable membership growth; assisting with the execution of an account plan that addresses threats and opportunities to ensure attainment of goals in collaboration with Sales and Account Management; gathering and reviewing information to support rate negotiations; and developing knowledge of how Underwriting plays a part in the co-creation of effective internal and external consultative solutions (e.g., case strategy, investment strategy, benefits strategy) with appropriate internal and external partners.
• Contributes to case review and preparation by: conducting account risk assessment using competitive analyses, broker behavior, network cost profiles, legislative and regulatory impacts, revenue requirements, and contributions, with some guidance, especially when working on complex cases; utilizing data and standardized tools to present underwriting and renewal actions and recommendations (e.g., rate drivers, potential risk, glide path, membership impact, projections for future) to clients and/or the organization, with some guidance; developing a basic knowledge of the external business environment and how it applies to the line of business and/or region; and collaborating with Sales and Account Management to develop case/investment strategies and recommendations with appropriate documentation with guidance.
• Supports team engagement with the external market by: under supervision, beginning to interact with external market to ensure understanding of the underwriting approach (e.g., rating methodology, rate drivers, reporting capabilities, and uniqueness from fee for service carriers); helping address data needs and requests reactively and proactively, as they arise; learning to build relationships with customers and channel partners that enable them to understand KPs value; and, with significant guidance, collaborating with account management and sales partners to bring strategic, financial solutions to customers, communicate product capabilities, explain funding arrangements, and negotiate conditions of offering and pricing within the limits of their authority.
• Contributes to goals, initiatives, and program development efforts by: supporting the implementation of innovative new quality and process improvement efforts with detailed instructions; and learning to execute their work in support of department initiatives, program goals, and enterprise goals.
• Ensures compliance of Underwriting work by: learning to ensure accuracy and appropriateness of work from peer reviews of own work and beginning to provide review of work; appropriately obtaining and documenting case approvals and any policy exceptions and investments; and maintaining awareness of and compliance with all relevant policies, guidelines, and procedures, applying them to their own work.