Underwriter II

What We Need

The Underwriter Il is responsible for the profitability of an assigned book of business, including prospective and renewing business in the 51-99 and 100+ market segment. In addition, the Underwriter lI will provide support for financial management reports, participate in the development of new products and rating methodologies and other assigned projects to improve underwriting operations.

Key Responsibilities:

• Responsible for the accurate and timely calculation of rates for 51-99 and 100+ prospective opportunities, and 100-500 size renewing accounts.
• Understanding and ability to work with multiple funding arrangements, including insured, self-insured, and level funded.
• Required critical thinking and creative problem-solving skills.
• Enforce adherence to Underwriting Policies and Procedures and be responsible for approval of exceptions.
• Develop creative pricing strategies which achieve profitability and market share targets.
• Participate in the development of new rating practices.
• Prepare complete actuarial and underwriting analyses for account proposals and renewals. This includes whole account strategy and contribution strategy recommendations.
• Analyze and explain comparative advantages and disadvantages of various commercial programs submitted in competitive bidding situations.
• Monitor and report on the profitability and persistency of the assigned book of business.
• Negotiate prices with customers and their consultants/brokers, where appropriate, to retain and/or grow enrollment and meet profitability goals.
• Participate in the presentation of financial proposals and renewals to internal Sales stakeholders.
• Assist with the development of financial presentations to external customers.

Capabilities:

• Demonstrate strong initiative with a focus on improving organizational performance.
• Analytic thought process with ability to work in a fast-paced, high-volume environment.
• Desire for continuous professional development; exemplify a growth mindset.
• Evaluate data to assess risk and determine appropriate action.
• Demonstrate ability to take calculated risks and be responsible for outcomes.
• Have a proven track record of success on difficult and challenging assignments.
• Show understanding of and employ functional and technical skills when performing all assignments.
• Required flexibility in the interpretation and application of underwriting guidelines.
• Required nimbleness relative to implementing and adjusting to the changes associated with the healthcare market.
• Able to apply changes to previously learned processes or adopt new ones.
• Develop and maintain cooperative relationships with team members, cross-functionally with financial underwriting peers and external divisional stakeholders (including Account and Sales Executives).
• Required time management skills to ensure deadlines are met with competing priorities.
• Model flexibility by pivoting priorities when critical activities arise
• Ability to adjust communication style according to key stakeholders.
• Ensure follow up and resolution on escalated issues.
• Understand business priorities and respond with urgency when needed.
• Recommend appropriate decisions with justification and business rationale.
• Understand and articulate competitive market awareness.

Technical Skills:

• Utilize effective mathematical models to develop complex account proposals and renewals, accurately project future costs, and propose alternative plans / financial arrangements.
• Should have a complete knowledge of account specific rating formulas, cost and utilization trend analyses, contribution strategies and methods for minimizing adverse selection.
• Proficiency in Excel and Word, and ability to learn new software and underwriting specific tools.

Experience and Education:

• Undergraduate degree from an accredited college/university is required. Degree in Finance or Economics is preferred.
• HIAA or Certified Employee Benefit Specialist (CEBS) designation preferred.
• A minimum of 3 years group health underwriting experience is required.
• Must possess superior oral and written communication skills to explain difficult technical concepts to clients, consultants, operations, and sales staff.
• Flexible customer service style and ability to work independently with internal/external business partners. High level of thoroughness and accuracy and strong attention to detail relative to risk review.
• Commitment to high standards of performance and willingness to put in extra effort to achieve goals.
• Some experience working under tight deadlines and managing multiple priorities.
• Must have knowledge of health benefit programs and financial arrangements from both a risk and cash flow aspect.

#LI-Hybrid

High school degree or equivalent required unless otherwise noted above

The job posting range is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee's pay position within the salary range will be based on several factors including, but limited to, relevant education, qualifications, certifications, experience, skills, performance, shift, travel requirements, sales or revenue-based metrics, and business or organizational needs and affordability.

This job is also eligible for variable pay.

We offer comprehensive package of benefits including paid time off, medical/dental/vision insurance, 401(k), and a suite of well-being benefits to eligible employees.

Note: No amount of pay is considered to be wages or compensation until such amount is earned, vested, and determinable. The amount and availability of any bonus, commission, or any other form of compensation that are allocable to a particular employee remains in the Company's sole discretion unless and until paid and may be modified at the Company's sole discretion, consistent with the law.

WHY Blue Cross Blue Shield of MA?

We understand that theconfidence gapandimposter syndromecan prevent amazing candidates coming our way, so please don't hesitate to apply. We'd love to hear from you. You might be just what we need for this role or possibly another one at Blue Cross Blue Shield of MA. The more voices we have represented and amplified in our business, the more we will all thrive, contribute, and be brilliant. We encourage you to bring us your true colors, , your perspectives, and your experiences. It's in our differences that we will remain relentless in our pursuit to transform healthcare for ALL.

As an employer, we are committed to investing in your development and providing the necessary resources to enable your success. Learn how we are dedicated to creating an inclusive and rewarding workplace that promotes excellence and provides opportunities for employees to forge their unique career path by visiting ourCompany Culturepage. If this sounds like something you'd like to be a part of, we'd love to hear from you. You can also join ourTalent Communityto stay "in the know" on all things Blue.

At Blue Cross Blue Shield of Massachusetts, we believe in wellness and that work/life balance is a key part of associate wellbeing. For more information on how we work and support that work/life balance visit our "How We Work" Page.