Underwriter I, II, III, Sr. or Lead - R-5319_1-4185

$46,862 - $68,182/Yr

Cambia - Coeur d'Alene, ID

Full-time - Entry Level

Remote - Coeur d'Alene, ID

Insurance Carriers and Related Activities

About the position

The Underwriter position at Cambia Health Solutions involves evaluating risk and determining appropriate rates for health insurance groups. This role is essential in creating a sustainable healthcare system and requires a collaborative approach to problem-solving and customer interaction. The position is available at various levels, from entry-level to lead, allowing for career growth and development within the underwriting team.

Responsibilities

• Approves renewal changes after verifying rates and product selection.
• Audits both new and renewing groups as necessary.
• Determines rates for alternative benefit variations.
• Ensures that group participation requirements are met.
• Prepares rate filings.
• Follows underwriting guidelines, policies, procedures and formulas in developing rates for new and renewal groups.
• Gathers the appropriate data used to determine the status of account refunds.
• Maintains spreadsheet information on group renewal history.
• Prepares memos and other correspondence to communicate changes in rates or benefits which have been approved by underwriting management.
• Processes the appropriate paperwork associated with renewal rate action and proposal closing.
• Supports internal sales staff regarding underwriting questions and/or resolves issues.
• Effectively communicates Underwriting decisions to other departments when necessary.
• May determine rates for alternative benefit variations and funding arrangements.
• Assist in the training process and mentoring of more junior level Underwriters.
• Prepares contingent premium settlements.
• Prepares the rate quotations and completes bid specifications.
• Processes group financial settlement calculations.
• Reviews and determines whether or not to grant exception requests.
• Supports management reporting efforts and the development of automated rating and analysis tools.
• Actively involved in the preparation and maintenance of underwriting guidelines and rating policy.
• Actively involved with testing new rating, underwriting and front end systems.
• Answers questions regarding the basic factors used in developing rates.
• Assesses health risk in a group environment.
• Develops prospective and renewal rates for group accounts in accordance with corporate and underwriting guidelines.
• Handles large volume production with account specific issues.
• Maintains a working knowledge of State and Federal regulations affecting group rating.
• Prepares rate breakouts and hierarchy definitions for group setups.
• May meet with external customers, brokers or account representatives to review underwriting calculations and provide explanations for rating principles.
• Contributes to timely and accurate productivity by assisting the Manager in education to new Underwriters.
• Attends broker meetings, as well as meetings with sales executives, agents and/or groups to provide explanations of rating principles or rationale of rating positions.
• Contributes to the development of new rating formulas, methodologies and guidelines.
• Responsible for the assignment of workload and ensuring smooth operations.

Requirements

• Bachelor's degree in business, math, statistics or related discipline or an equivalent combination of education and experience for Underwriter I.
• Bachelor's degree in business, math, statistics or related discipline and a minimum of 2 years related experience for Underwriter II.
• Bachelor's degree in business, math, statistics or related discipline and a minimum of 4 years related experience for Underwriter III.
• Bachelor's degree in business, math, statistics or related discipline and a minimum of 6 years related experience for Senior Underwriter.
• Bachelor's degree in business, math, statistics or related discipline and a minimum of 8 years related experience for Lead Underwriter.
• Demonstrated analytical and problem solving skills.
• Business sense including finance, accounting, economics, and risk management principles.
• Effective verbal and written communications.
• Ability to build and maintain positive internal and external customer interactions.
• Ability to prioritize tasks and meet deadlines.
• Demonstrated technology proficiency, including Excel, Word, and applicable software applications.

Nice-to-haves

• Experience with complex computer software systems and automation.
• Proven understanding of business, including finance, accounting, economics, and risk management.
• Ability to effectively explain complex mathematical and abstract concepts to a variety of stakeholders.
• Demonstrated attainment of a high level of independent, consistent performance.
• Ability to organize, plan, prioritize and complete complex assignments with little or no supervision.

Benefits

• Medical, dental and vision coverage for employees and their eligible family members, including mental health benefits.
• Annual employer contribution to a health savings account.
• Generous paid time off varying by role and tenure in addition to 10 company-paid holidays.
• Market-leading retirement plan including a company match on employee 401(k) contributions, with a potential discretionary contribution based on company performance.
• Up to 12 weeks of paid parental time off.
• Award-winning wellness programs that reward you for participation.
• Employee Assistance Fund for those in need.
• Commute and parking benefits.