Employee Health Underwriter

3 weeks ago


Worcester, Worcestershire, United Kingdom US012 Marsh & McLennan Agency LLC Full time

About the Role:

The Employee Health Underwriter will play a critical role in supporting the sales and service departments in the placement of new and renewal business. This includes preparing underwriting projections, bid specifications, and quote analysis, as well as assisting in the negotiation of final rates and preparing recommendations for client presentations.

Key Responsibilities:

  • Analyze carrier data on complex clients and provide recommendations to account teams to help with the negotiation of rates and funding levels.
  • Prepare and evaluate claim experience and utilization reports, as needed.
  • Develop Fully Insured Medical and Dental renewal projections.
  • Develop Self-Insured Medical and Dental budgets and Working Rates.
  • Analyze and recommend optimal funding arrangements.
  • Assist in marketing, analysis, and placement of Stop Loss coverages.
  • Price plan design and product alternatives.
  • Assist in modeling and setting Employee Contribution structures.
  • Assist in reviewing contracts, preparing RFP specifications, and identifying markets for proposals.
  • Assist in the workflow for monthly and quarterly financial reporting for clients.
  • Assist in negotiating rates with insurance carriers and other vendors.
  • Provide technical expertise, product updates, and training programs for the health benefits practice.
  • Follow industry development, changes, and legislative updates within all types of underwriting methodology, including but not limited to Medical, Dental, Life, Short and Long Term Disability (primarily Medical and Dental).
  • Conduct special projects as needed.
  • Perform duties according to established health benefits procedures and operate as directed by the health benefits practice leader.
  • Track expense components and admin increases for renewals by carrier and update the Financial Revenue Administration Tool accordingly.

About Us:

Marsh & McLennan Agency (MMA) is a full-service insurance, retirement, and risk management firm that specializes in providing proprietary solutions to small and middle market organizations dealing with the complexity of employee benefits and commercial insurance. As a subsidiary of Marsh, the world's largest broker and risk advisor, we provide clients with unparalleled access to local service, regional expertise, and global resources.

What We Offer:

  • A comprehensive benefits package, including medical, dental, and vision plans, 401K and company match program, competitive paid time off programs, company-paid life and disability, employee stock purchase plan, and paid parental leave.
  • A culture of respect that practices everything we preach, a place to grow, to be challenged – but also to feel that you belong, a special way to give back to your community, an entrepreneurial work environment and leadership style, office spaces designed to maximize innovation and collaboration, and a focus on taking time to celebrate success and build relationships.
  • Opportunities for career growth and development, including designation programs, CE courses, mentorship and leadership development programs, onsite learning opportunities, and tuition reimbursement.

Requirements:

  • Minimum 5 years of experience in Large Group experience Underwriting with an insurance agency/brokerage/consulting firm and/or medical insurance carrier.
  • Thorough understanding of medical and dental underwriting practices.
  • General understanding of brokerage agency strategies and positioning between client and insurer.
  • Strong organizational, analytical, and decision-making abilities as well as interpersonal skills.
  • Solid ability to multitask and prioritize tasks and projects.
  • Proficiency in Microsoft Excel, Word, and Outlook.
  • License in Life, Accident and Health preferred; CEBS designation is a plus.
  • Good communication skills.
  • Ability to maintain favorable relationships with clients, vendors, and colleagues.
  • 4-year college degree.


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