Elevance Health - Morristown, NJ
posted 7 months ago
The Group Underwriter Consultant, Sr is a pivotal role within Elevance Health, responsible for assessing the acceptability of insurance risks and determining appropriate premium rates for large and complex group cases. This position is recognized as the most senior technical underwriting expert, playing a crucial role in the underwriting process. The consultant will engage in a hybrid work environment, which includes virtual work complemented by 1-2 days in the office each 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. The consultant will propose rates for prospective business by leveraging a combination of carrier experience, demographic data, and manual rates. Additionally, the consultant will perform post-sale reviews and prepare or supervise the preparation of annual settlements, ERISA reports, rate projections, and benefit change increments and decrements. They will survey existing product portfolios by market, monitor sales results, trends, and needs, and recommend changes to the product portfolio as necessary. Establishing rating and administrative procedures is also a key responsibility, along with participating in major multi-functional teams as the underwriting representative. The consultant will assist in the technical development of underwriting associates, which may involve monitoring reports and workflow to provide recommendations for productivity and efficiency improvements. Furthermore, they will update and monitor departmental processes and procedures to ensure compliance with system, regulatory, and business requirements.