Underwriting Consultant

Underwriting Consultant

This is a hybrid opportunity and this role requires onsite in-office presence approximately 1 to 3 days per week at our New York, NY office location.

The Underwriting Consultant is responsible for providing underwriting and financial support to assigned clients. The position is also responsible for prospect reviews and marketing support for new business. The Underwriting Consultant uses highly refined mathematical and analytical skills on behalf of existing clients as well as prospective clients. The position requires negotiating and communication skills.

The Underwriting Consultant assists in developing benefit strategies and meeting client goals and objectives. The qualified candidate must be knowledgeable with respect to the spectrum of employer-sponsored health & welfare related plans, including federal and state regulations that impact these plans.

Primary Responsibilities and Duties

• Underwrite health coverages; project future renewals / plan costs and evaluate carrier renewal actions for fully insured, minimum premium, level-funded and self-insured accounts.
• Analyze claim patterns / trends.
• Utilize actuarial modeling tools to develop alternative strategies, plan design offerings and cost reduction plans. Evaluate the impact of migration and selection.
• Complete standard set of client-facing monthly reports including claims, enrollment and large claim activity. Transmit to client with appropriate commentary.
• Create and present alternative funding modeling.
• Evaluate and critique carrier / TPA utilization data. Use data to identify cost drivers and develop financial strategies.
• Prepare premium equivalent rates for self-funded clients, including COBRA rates.
• Evaluate carrier renewal calculations.
• Model employee contribution scenarios.
• Evaluate financial impact of PPACA and other benefits-related legislation.
• Evaluate network discounts.
• Conduct stop loss marketing and negotiations, evaluate and present stop loss proposals.
• Evaluate PEOs, captive arrangements, reference-based pricing and pharmacy contracts for consideration by clients.
• Evaluate impact of mergers & acquisitions on plan costs.
• Remain current on cost containment strategies, all benefits-related legislation, especially PPACA, and the financial impact of said legislation.
• Client meeting / conference call participation as needed.
• Participate in underwriting calls with carriers to assist in renewal negotiation as needed.
• Conduct pre-sale financial review of new business opportunities along with presentation to prospect.

Requirements and Qualifications

At Risk Strategies Company, base pay is one part of our total compensation package, which also includes a comprehensive suite of benefits, including medical, dental, vision, disability, and life insurance, retirement savings, and paid time off and paid holidays for eligible employees. The total compensation for a position may also include other elements dependent on the position offered. The expected base pay range for this position is between $84,200 - $140,000 annually. The actual base pay offered may vary depending on multiple individualized factors, including geographical location, education, job-related knowledge, skills, and experience.

Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices and over 5,000 employees across the US and Canada.

Our industry recognition includes being named a Best Places to Work in Insurance for the past five years (2018-2022) and on the Inc. 5000 list as one of America's Fastest Growing Private Companies. We are committed to being good stewards for our company, culture, and communities by having a strong focus on Environmental, Social, and Governance issues.

Risk Strategies is an equal opportunity workplace and is committed to ensuring equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, Veteran status, or other legally protected characteristics.