Underwriter I

Quanterix - Philadelphia, PA

Full-time - Entry Level

Hybrid - Philadelphia, PA

Transit and Ground Passenger Transportation

About the position

The Underwriter position at Reliance Matrix involves independently evaluating and synthesizing information to make informed decisions regarding the acceptance, modification, or rejection of risks associated with various cases. The underwriter will review a range of artifacts, including Requests for Proposals (RFPs), census data, and current policies, to assess the risk involved. This role requires a deep understanding of manual rating methodologies and the ability to interpret data effectively to determine if the risks can be accepted by the business. The underwriter will manage a book of business that primarily consists of manually rated cases, with some experience-rated cases, and will utilize their industry experience and knowledge of the client and marketplace to evaluate all assigned risks in the Group lines of business. This includes plan design, experience, and manual rates, while also providing guidance to sales, service, and internal business partners to price and renew all business lines. The underwriter will be responsible for evaluating coverage amounts, premium rates, and experience rates on both new and in-force business, which encompasses new business submissions, amendments to existing plans, and renewals. They will exercise independent judgment to determine the overall case position, maintaining strong relationships with sales and service partners in the field. After conducting thorough analysis and evaluation, the underwriter will articulate the rationale behind their pricing decisions. Collaboration with colleagues across various functions, such as contracts, claims, and compliance, is essential to reach favorable decisions for Reliance Matrix that are included in the sold case finalized by the Underwriter. Additionally, the underwriter will participate as a project team member on various initiatives within the underwriting department, contributing to more efficient operations and business sold or renewed, typically dedicating 10% or less of their time to these projects. Project management techniques will be implemented to effectively manage the book of business.

Responsibilities

• Evaluate and synthesize information to accept, modify, or reject risks on cases.
• Review various artifacts such as RFPs, census data, and current policies to assess risk.
• Utilize industry experience to evaluate assigned risks in Group lines of business.
• Provide guidance to sales, service, and internal partners for pricing and renewing business lines.
• Evaluate coverage amounts, premium rates, and experience rates on new and in-force business.
• Articulate decision rationale on case pricing after analysis and evaluation.
• Collaborate with colleagues in contracts, claims, and compliance to reach favorable decisions.
• Participate in project teams to improve underwriting operations and efficiency.
• Implement project management techniques in managing the book of business.

Requirements

• Bachelor's Degree required.
• Minimum of 1 to 3 years previous relevant underwriting experience required.
• Working knowledge of group products for all lines of coverage.
• Effective verbal and written communication skills.
• Ability to make decisions with management oversight concerning the acceptability of Group Risks.
• Strong mathematical and analytical skills.
• Excellent organizational skills with the ability to prioritize high volume/deadline workload.
• High level of customer service orientation.
• Ability to research and solve problems with management oversight.
• Basic knowledge of Excel, PowerPoint, and other Microsoft Office applications.

Benefits

• Annual performance bonus for all team members.
• Generous 401(k) company match that is immediately vested.
• Choice of three medical plans including prescription drug coverage.
• Company contribution to Health Savings Account for High Deductible Health Plan enrollees.
• Multiple options for dental and vision coverage.
• Company provided Life & Disability Insurance.
• Paid Parental Leave & Adoption Assistance.
• Hybrid work arrangements for eligible roles.
• Tuition Reimbursement and Continuing Professional Education.
• Paid Time Off, volunteer days, and Employee Assistance Program.
• Employee Resource Group program and Diversity Equity & Inclusion Council.