Elevance Health - Washington, DC
posted 5 months ago
The Group Underwriter Consultant, Sr position at Elevance Health is a pivotal role that involves assessing the acceptability of insurance risks and determining appropriate premium rates for large and complex group cases. As the most senior technical underwriting expert, the consultant will engage in a variety of tasks that require a deep understanding of underwriting principles and practices. This role is integral to the company's hybrid workforce strategy, allowing for a combination of virtual work and in-office presence, typically 1-2 days per week, depending on specific requirements discussed during the hiring process. In this role, the consultant will calculate renewal rates for large complex cases, utilizing a thorough analysis of various factors such as experience, location, and demographics. They will also provide guidance to medical underwriters regarding the risk selection of applicants seeking individual health coverage. Collaboration with other departments is essential to ensure the accuracy and consistency of overall account reporting, which is a critical aspect of the underwriting process. The consultant will propose rates for prospective business by leveraging a combination of carrier experience, demographic data, and manual rates. Additionally, they will perform post-sale reviews and prepare or supervise the preparation of annual settlements, ERISA reports, rate projections, and benefit change increments and decrements. Monitoring existing product portfolios by market, analyzing sales results, trends, and needs will also be part of their responsibilities, along with recommending necessary product portfolio changes. Furthermore, the consultant will assist in establishing rating and administrative procedures, participate in major multi-functional teams as the underwriting representative, and contribute to the technical development of underwriting associates. This includes monitoring reports and workflows to provide recommendations aimed at improving productivity and efficiency. The consultant will also be responsible for updating and monitoring departmental processes and procedures to ensure compliance with system, regulatory, and business requirements.