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Stop Loss Underwriter III

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BlueCross BlueShield of South Carolina

Aug 29, 2024

  • Job
    Full-time
    Senior Level
  • Pace
  • Quick Apply

AI generated summary

  • You need a Bachelor's or equivalent experience, 5 years in underwriting/managing underwriters, strong analytical and communication skills, and advanced knowledge of insurance and claims.
  • You will underwrite cases, design stop loss coverage, manage client relations, track loss ratios, develop renewal terms, review plan amendments, and assist junior underwriters.

Requirements

  • Required Education: Bachelor's
  • Degree Equivalency: 4 years job related work experience or Associate's and 2 years job related work experience
  • Required Work Experience: 5 years underwriting/marketing experience with managed care organizations, carriers, and managing underwriters, primarily in the employer stop loss market.
  • Required Skills and Abilities: Strong analytical, decision-making, time management, and advanced math skills. Excellent verbal and written communication and interpersonal skills. Good judgment. Advanced knowledge of group insurance, managed care, and direct medical claims products. Ability to handle confidential or sensitive information with discretion. Extensive knowledge of underwriting/risk principles and their application.
  • Required Software and Tools: Standard office equipment. Microsoft office suite.
  • Work Environment: Typical office environment. Some travel required.

Responsibilities

  • - Underwrite a profitable book of business in the employer stop loss marketplace through Managed Care Organizations, (Third Party Administrators) TPAs, Brokers, Hospitals, and BlueCross BlueShield organizations and service all business to targeted profitability and service objectives.
  • - Receive specific case proposal requests and review for completeness, reject when necessary and gather missing information.
  • - Underwrite cases including setting rates, aggregate factors, and coverage terms/conditions according to negotiated MGU agreements with insurers/reinsurers.
  • - Design stop loss coverage and introduce services to best meet needs of client.
  • - Emphasize client relations in building up block of profitable business.
  • - Promote MGU services and benefits at every opportunity.
  • - Service existing book of business including, but not limited to, tracking TPA specific and aggregate loss ratio, tracking average renewal rate increases compared to average loss ratio, and determining TPAs’ level of involvement in developing their own managed care initiatives.
  • - Review amendments to plan documents to determine rate or coverage implications.
  • - Develop renewal terms for in-force cases which comply with company renewal standards and carrier/reinsurer guidelines and limits.
  • - Follow up on pending proposals and renewals to determine final outcome and reinforce interest in writing the business.
  • - Maintain open communication with management, marketing, sales, claims, and other appropriate areas.
  • - Assists less experience underwriters.

FAQs

What are the required qualifications for the Stop Loss Underwriter III position?

Candidates are required to have a Bachelor's degree or equivalent experience (4 years job-related work experience or an Associate's degree with 2 years job-related work experience). Additionally, at least 5 years of underwriting/marketing experience in managed care organizations, carriers, and managing underwriters, primarily in the employer stop loss market, is necessary.

What types of organizations will I be working with as an Underwriter?

You will be working with Managed Care Organizations, Third Party Administrators (TPAs), Brokers, Hospitals, and BlueCross BlueShield organizations.

What skills are essential for this role?

Essential skills include strong analytical, decision-making, and advanced math skills, as well as excellent verbal and written communication, interpersonal skills, good judgment, and advanced knowledge of group insurance and managed care.

Is travel required for this position?

Yes, some travel is required for the Stop Loss Underwriter III position.

What software and tools will I be using in this role?

You will be using standard office equipment and the Microsoft Office Suite.

Will I have the opportunity to assist less experienced underwriters?

Yes, in this role, you will have the opportunity to assist less experienced underwriters.

What is the work environment like for this position?

The work environment is a typical office setting.

Are there any accommodations for individuals with disabilities?

Yes, we are committed to working with and providing reasonable accommodations to individuals with physical and mental disabilities. If you need assistance or accommodations while seeking employment, you can contact us for support.

Does the company have a policy of non-discrimination in employment?

Yes, BlueCross BlueShield of South Carolina and our subsidiary companies maintain a continuing policy of nondiscrimination in employment to promote opportunities regardless of various legally protected statuses.

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BlueCross BlueShield of South Carolina

South Carolina’s largest and oldest health insurance company

Finance
Industry
10,001+
Employees
1946
Founded Year

Mission & Purpose

BlueCross BlueShield of South Carolina, the state's largest insurance company, has been a part of the national landscape for over six decades. With an A+ Superior rating from A.M. Best, the company is a leading government contract administrator and operates one of the most advanced data processing centers in the Southeast. BlueCross offers employees robust benefits, including retirement plans, health coverage, and education assistance, while fostering a culture of community support, with employees actively contributing to numerous nonprofit organizations each year.