Health Underwriting & Product Development Specialist

Job Purpose:

Analyze, and evaluate the risk associated with providing health insurance coverage to individual & employee. 

This role has a crucial in ensuring the profitability and sustainability of the health insurance portfolio.  Accurately pricing policies, establishing appropriate terms and conditions, and adhering to underwriting guidelines. 

Focus in group employee benefits, data analysis, and coordinate with the actuarial team to make sound underwriting decisions that balance business growth with acceptable levels of risk.

This position also involves building and maintaining strong relationships with brokers, clients, and internal stakeholders to facilitate the underwriting process and achieve business objectives.          

Roles & Responsibilities:

• Evaluate Group EB Insurance Quotation: review and analyze request of Group EB quotation, census data, the nature of business and past claim experience of prospective and renewing group clients. 

• Negotiate Rates and Terms: Engage in negotiations with related parties incl “Broker/Agent/Client” mutually agreeable terms while adhering to underwriting authority and guideline.

• Communicate UW Decisions & Provide UW Expertise: Clearly and professionally communicate underwriting decisions, rationale, and any required information to related parties. Serve as a resource for related parties providing guidance and expertise on health insurance underwriting principles and practices.

• Document UW decision, manage workflow & timelines, Collaborate with Internal Departments, Contribute to the development of UW guideline: Maintain accurate and detailed records of the UW process, rationale for decisions, and supporting documentation. Efficiently manage a pipeline of new prospective and renewals ensuring timely completion. Work closely with sales, actuarial, claim, legal, policy processing and other departments to ensure a consistent and coordinated approach. Provide feedback and insights to contribute to the ongoing improvement and refinement of underwriting policies and procedures.

• Monitor Portfolio Performance: Track the performance of the underwritten A&H business, identifying trends and potential areas of concern together with identify solution for improvements and enhanced risk management.

• Stay updated on industry trends, Enhance UW knowledge and Skills: continuously monitor changes in A&H legislation, market trends, and competitor activities. Participate in training and development programs to improve underwriting expertise.

• Development of People and Sharing Knowledge: Create a presentation for discussions section and explaining underwriting rationales to team or RHQ. Facilitate knowledge transfer between experienced and less experienced team members through collaborative discussion and shared learning experiences. Invite representatives from all related parties to participate in relevant forum sessions for Shared understanding of US process, challenges, key considerations, insights into UW decisions, risk assessment methodologies. Create an opportunity for stakeholder to provide feedback on UW guidelines, Product offerings, and marketing dynamics.

• Perform other related duties as assigned.

Qualifications & Experience:

• Bachelor’s degree in health industry, business, Finance, Insurance, or a related field. 

• Experience in A&H Insurance underwriting with a specific focus on Group EB.

• Proven track record of handling complex cases, managing relationships and potentially mentoring jr underwriters.

• Experience to dealing with Regulator.