Elevance Health - West Des Moines, IA
posted 5 months ago
The Group Underwriter Consultant Sr. at Elevance Health plays a pivotal role in the evaluation and determination of insurance risks and the establishment of appropriate premium rates for large and complex group cases. This position is recognized as the most senior technical underwriting expert within the organization, responsible for ensuring that the underwriting process aligns with the company's standards and regulatory requirements. The role supports a hybrid workplace model, allowing for both virtual and in-office collaboration, with a requirement for candidates to reside within a 50-mile radius of an Elevance Health location. In this position, the consultant will engage in a variety of critical tasks that include calculating renewal rates for large complex cases. This involves a thorough analysis of various factors such as experience, location, and demographics to ensure accurate premium assessments. The consultant will also provide guidance to medical underwriters regarding the risk selection of applicants seeking individual health coverage, ensuring that all underwriting decisions are well-informed and strategically sound. Collaboration is key in this role, as the consultant will coordinate with other departments to maintain accuracy and consistency in overall account reporting. Additionally, the consultant will propose rates for prospective business by leveraging a combination of carrier experience, demographic data, and manual rates. Post-sale reviews will also be a part of the responsibilities, ensuring that all aspects of the underwriting process are thoroughly evaluated and documented. The consultant will prepare or supervise the preparation of essential documents such as annual settlements, ERISA reports, and rate projections, as well as benefit change increments and decrements. Monitoring existing product portfolios by market, analyzing sales results, trends, and needs will be crucial in recommending necessary product portfolio changes. The consultant will also assist in establishing rating and administrative procedures, ensuring that all processes are efficient and compliant with regulatory standards. As a senior member of the underwriting team, the consultant will participate in major multi-functional teams, representing underwriting interests and contributing to broader organizational goals. Furthermore, the consultant will play a vital role in the technical development of underwriting associates, providing insights and recommendations on productivity and efficiency improvements based on monitoring reports and workflow assessments. Continuous updates and monitoring of departmental processes and procedures will be essential to ensure compliance with system, regulatory, and business requirements.