Underwriting Associate – Renewals
Job category: Customer Service
Job Type: Full Time
Salt Lake City, Utah
MGIS delivers insurance that healthcare professionals expect. The only disability insurance company that caters to healthcare professionals only, MGIS is always innovating new solutions to protect our clients’ income.
MGIS has been around for over 50 years but operates with an entrepreneurial spirit. If you’re an excellent group underwriter looking for a place with room to grow, competitive pay, and great benefits, you’re probably a great fit.
This is a position in Underwriting & Operations organization, primarily working with renewal business under 500 lives and rating and assisting with the renewal and plan change processes for business of any size. Position may include some combination of the following tasks:
- Evaluate, price, and propose rate and strategy on disability and life in-force business within stated authority limits.
- Perform underwriting and proposal generation functions associated with rating and revising in-force business, using technical knowledge to apply in the underwriting process.
- Evaluate, price, and recommend renewal/plan change terms and strategy on business outside stated authority limits, working with Underwriters.
- Manage assigned workload to meet internal productivity and time service standards as well as salesforce priorities.
- Decision-making on fundamental problems within specific rules and utilizing general underwriting guidelines.
- Effectively communicates decisions or additional requirements and rating results to the assigned customers both internal and external including MGIS Sales and Service teams, Carrier sales and service teams, brokers, and clients.
Essential Duties and Responsibilities include the following:
- Examines and analyzes information on healthcare provider segment, demographics, in-force and requested plan designs, etc. ensuring completeness and accuracy to underwrite and propose; and adherence to established underwriting guidelines and capability to price and produce proposal using current systems resources.
- Communicates with internal and external sales and service representatives, including brokers, and carrier reps to obtain further information needed to complete the renewal or revision process or further analyze risk, or to explain company underwriting policies; and assists in retaining business, placing necessary rate action and promoting upsell opportunities.
- Input customer parameters to enable generation of the quote; verify customer information within the system to ensure accuracy.
- Analyzes renewal clients, determining the level of risk based on established guidelines, terms, and conditions on individual risks to provide appropriate pricing and risk controls to maintain profitable and persistent business.
- Calculates manual rates and premium charges using the rating system. Determines comparative relationship to manual adjustments for revised plan options to maintain/improve pricing position.
- Communicates manual rates and other underwriting information and/or releases renewals and plan changes using documented procedures dependent upon line of business, prospect/client size, and authority levels and/or strategy.
- Prepare and distribute in-force change and renewal communications to provide accurate and timely communication of plan designs and rates, limitations, and assumptions to appropriate internal and external stakeholders.
- Compile and distribute reports in support of renewal cycle setup, progress monitoring, and key stakeholder analysis.
- Supports the identification and development of best practices workflows and procedures.
- Develops and maintains strong working relationships internally and externally with agents, brokers, marketing representatives, and Carrier representatives. Develops a team environment as a trusted advisor.
- Other duties and special projects as assigned.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. In addition to those listed below, candidates must also possess strong organization skills; consistency; dependability; strong verbal and written communication skills; strong computer systems knowledge and experience; research, analytical and investigative skills; desire to meet regulations; assertiveness; patience and persistence. Must be able to work cohesively and effectively in a team environment.
- Must obtain a Utah Life & Health License within six months of employment.
- Minimum of three years insurance underwriting or customer service experience; or equivalent combination of education and experience.
- Sales support and/or insurance industry experience a plus.
- Knowledge of insurance products and systems a strong plus.
- BA and industry designation preferred.
- Insurance or financial services experience is highly preferred. Underwriting background a plus.
- Strong skills with Excel, Word, and Adobe PDF required.
- Situational awareness—able to analyze disparate sources of information and develop appropriate conclusions or action plans.
- Business acumen—understands all aspects of driving a successful business and takes actions that are in the best interest of the company
- Disciplined execution—plans, executes, and monitors work to deliver results on time and within budget
- Has a high degree of integrity
- Interpersonal – Treats people with respect and courtesy
- Effectively balances disciplined execution with an enjoyable work environment
- Customer Service – Ability to respond to common inquiries or complaints from customers, sales representatives, or agents.
- Mathematics – Above-average ability to apply mathematical concepts and operations to various operations regarding benefit levels, premium calculation, etc.
- Learning – Demonstrates the ability to quickly identify and master the skills needed to take advantage of new opportunities, master emerging technologies, and work with new and changing business environments.
- Decision Making – Demonstrates skill in developing a logical, internally consistent rationale for underwriting decisions and understands the impact of those decisions on fellow associates and business units.
- Responsiveness – Demonstrates a commitment to responsiveness which provides us with a competitive advantage. Creates business opportunities by providing the highest level of customer service to our internal and external business partners.
- Creativity and Innovation – Generates new ideas and rethinks existing ones to improve quality and productivity and create financial opportunities. Takes appropriate risks to find better solutions to new or existing issues.
- Organization – Demonstrates skill in the ability to prioritize and give structure to the surrounding environment.
- Production Oriented – Possesses a strong bottom-line orientation, setting high personal expectations and delivering quality results.