Elevance Health - Middletown, NY
posted 4 months ago
The Group Underwriter, Sr at Elevance Health plays a crucial role in determining the acceptability of insurance risks and setting appropriate premium rates for large, complex renewal and prospect employer groups. This position operates under the Corporate Underwriting Guidelines and Authority Limits, ensuring that all underwriting decisions align with the company's standards and practices. The role requires a deep understanding of various factors that influence insurance risk, including the group's experience, industry, location, size, and demographic characteristics. In this position, the underwriter will be responsible for calculating renewal rates for complex group cases, which involves a thorough analysis of the aforementioned factors. The underwriter will also coordinate with other departments to ensure the accuracy and consistency of account reporting, which is vital for maintaining the integrity of the underwriting process. Additionally, the underwriter will propose rates and terms for group prospects, leveraging a combination of carrier experience, demographic data, and manual rates to arrive at competitive and fair pricing. The role also includes preparing or supervising the preparation of annual settlements, ERISA reports, and rate projections, as well as managing benefit change increments or decrements. Effective communication with sales, administration, and claims departments is essential to assess the rating and administrative impact of benefit and plan changes. This position is integral to the overall success of Elevance Health's underwriting operations, ensuring that the company remains competitive while managing risk effectively.