Elevance Health - Woodbridge Township, NJ
posted 5 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 both virtual work and 1-2 days in the office each week, with specific expectations to be 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, 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. The consultant will assist in establishing rating and administrative procedures and participate in major multi-functional teams as the underwriting representative. They will also play a key role in the technical development of underwriting associates, which may involve monitoring reports and workflow to provide recommendations for productivity and efficiency improvements. Furthermore, the consultant will update and monitor departmental processes and procedures to ensure compliance with system, regulatory, and business requirements.