Elevance Health - Richmond, VA
posted 4 months ago
The Group Underwriter, Senior 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 is essential in maintaining the financial health of the organization by accurately assessing risks and pricing them accordingly. In this position, the Group Underwriter will be responsible for calculating renewal rates for complex group cases. This involves a thorough analysis of various factors including the group's experience, industry, location, size, and demographic nature. 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 Group Underwriter will propose rates and terms for group prospects, utilizing a combination of other carrier experience, demographic data, and manual rates. This requires a deep understanding of the market and the ability to interpret complex data to make informed decisions. The preparation of annual settlements, ERISA reports, rate projections, and benefit change increments or decrements will also fall under the purview of this role. Effective communication is key in this position, as the Group Underwriter will need to liaise with sales, administration, and claims departments to assess the rating and administrative impact of benefit and plan changes. This collaborative approach ensures that all stakeholders are aligned and that the underwriting process is seamless and efficient.