Elevance Health - Smithfield, RI
posted 7 months ago
The Stop Loss Group Underwriter Consultant, Sr at Elevance Health is a pivotal role responsible for evaluating 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 within the organization, playing a crucial role in the underwriting process. The consultant will engage in a variety of tasks that require a deep understanding of underwriting principles and practices, as well as the ability to analyze complex data to make informed decisions. 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, which is a key responsibility of this position. 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, and recommending product portfolio changes are also part of the job. Furthermore, the consultant will assist in establishing rating and administrative procedures, participate in major multi-functional teams as the underwriting representative, and contribute to the technical development of underwriting associates. This includes monitoring reports and workflows to provide recommendations for productivity and efficiency improvements. The consultant will also be responsible for updating and monitoring departmental processes and procedures to ensure compliance with system, regulatory, and business requirements.