Underwriter I

at  CAPITAL BLUE CROSS

Position Description:
At Capital Blue Cross, we promise to go the extra mile for our team and our community. This promise is at the heart of our culture, and it’s why our employees consistently vote us one of the “Best Places to Work in PA.”
The position is responsible for pricing benefit plans, renewal underwriting, prospect dental rate development and experience analysis and settlement of terminating and continuing financial arrangements. It is also responsible for performing various actuarial assignments.
The position functions as a consultant by providing advice to marketing’s Account Executives, presenting information to groups and informing department management of the financial consequences of existing or proposed insurance arrangements. Mathematical, financial and analytical skills are utilized to research data, develop projections and formulate appropriate proposals and recommendations to achieve business objectives. The position is also responsible for approving the financial contract pages for renewing groups.

Responsibilities and Qualifications:

• Prepares rate quotations for prospective groups, benefit changes for current groups and rate renewals for current groups based on Capital Blue Cross (CBC) underwriting and rating requirements and policies.
• Presents rate exceptions with appropriate analysis and recommendations for action to management for review and approval.
• Consults with Sales, Sales Management and Underwriting Management in support of renewal rate actions and quotes.
• Supports Sales in justifying renewal calculations through the creation of various exhibits and analyses.
• Designs, modifies and programs minor applications on the microcomputer that apply to rating structures and actuarial analyses used by the Plan, generally under the direction of the Senior Underwriter.
• Reviews and approves financial contract language for renewing groups.
• Accompanies Sr. Underwriter and department management on account calls to present renewals, and rate quotations.
• Assists in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines.

EDUCATION AND CERTIFICATIONS:

• Requires a bachelor’s degree in mathematics, Finance, Statistics, Accounting or a related business field OR a minimum of 2 years’ experience in underwriting/actuarial functions.
• Knowledge of mainframe and microcomputer applications used in rating process.
• Competent understanding of managed care theory and familiarity with the PA insurance regulatory environment.
• Knowledge of financial and accounting concepts, terminology and reports.
• Strong analytical skills and a sound understanding of medical statistics, enrollment and provider data.
• Ability to abstract a financial arrangement into theoretical mathematical structures.
• Ability to effectively explain technical issues and provide consultative services to internal and external stakeholders in both a written and verbal format

• Prepares rate quotations for prospective groups, benefit changes for current groups and rate renewals for current groups based on Capital Blue Cross (CBC) underwriting and rating requirements and policies.
• Presents rate exceptions with appropriate analysis and recommendations for action to management for review and approval.
• Consults with Sales, Sales Management and Underwriting Management in support of renewal rate actions and quotes.
• Supports Sales in justifying renewal calculations through the creation of various exhibits and analyses.
• Designs, modifies and programs minor applications on the microcomputer that apply to rating structures and actuarial analyses used by the Plan, generally under the direction of the Senior Underwriter.
• Reviews and approves financial contract language for renewing groups.
• Accompanies Sr. Underwriter and department management on account calls to present renewals, and rate quotations.
• Assists in developing and presenting unique settlement and financing arrangements not addressed in standard guidelines