The Assistant Vice President (AVP) Underwriting Manager for Medical Stop Loss Insurance is responsible for leading an underwriting team, developing and implementing underwriting strategies, and managing the underwriting process for assigned captive program(s). This includes overseeing the underwriting of new and renewal business, ensuring underwriting guidelines and delegated authority are followed, managing a team of underwriters, and maintaining profitability while controlling risk. The AVP will work closely with senior management, fronting carriers, actuarial, and sales teams to support business goals and drive performance across the medical stop loss portfolio.
ESSENTIAL EDUCATION AND EXPERIENCE:Bachelor’s Degree in Business, Insurance, Finance, or other related discipline, and at least eight (8) years of experience in underwriting with 3 years in a leadership/management role within medical stop loss or health insurance industry.
SKILLS/COMPETENCIES REQUIREMENTS:
- Lead, manage, and mentor the underwriting team responsible for assigned captive program(s), ensuring they follow best practices, underwriting guidelines and consistently meet business goals.
- Adherence to underwriting strategies that align with overall business objectives, balancing profitable growth and risk.
- Review, approve, and document underwriting referrals for complex or large cases, ensuring appropriate risk assessment and pricing.
- Supervise and support a team of underwriters, ensuring optimal performance, high morale, and professional development.
- Lead training and development opportunities to ensure the underwriting team is equipped with the necessary skills and knowledge of market trends and medical stop loss risk.
- Foster a collaborative environment and encourage knowledge sharing among team members to improve underwriting consistency and decision-making.
- Oversee the underwriting of new business, renewals, and amendments to ensure appropriate pricing and risk management strategies are applied.
- Work closely with underwriting and carrier leadership to ensure pricing strategies align with risk profiles and business goals.
- Evaluate claims experience, trends, and other data to make informed decisions regarding coverage terms, limits, and pricing adjustments.
- Ensure that each policy is underwritten with consideration for the company's risk appetite, underwriting guidelines, delegated authority and financial objectives.
- Continuously evaluate and refine underwriting processes to improve efficiency and accuracy while reducing cycle times.
- Identify opportunities to automate or streamline underwriting operations through the adoption of technology or improved workflows.
- Implement best practices and maintain a high level of quality control to ensure consistency and accuracy in underwriting decisions.
- Collaborate with internal teams, including actuarial, sales, and product management, to align underwriting efforts with company objectives and market conditions.
- Engage with brokers, consultants, and clients to address underwriting-related inquiries, negotiate terms, and build strong relationships.
- Communicate underwriting decisions, strategies, and any changes in policies to key stakeholders in a clear and concise manner.
- Monitor and analyze underwriting performance, including loss ratios, profitability, and claims trends, and report findings to senior leadership.
- Use performance data to make recommendations for improvements in pricing, risk management, or underwriting guidelines.
- Regularly assess the effectiveness of underwriting practices and make adjustments to meet business goals and market changes.
- Strong leadership, team management, and interpersonal skills, with the ability to motivate and guide a team.
- Excellent analytical and decision-making skills, with the ability to assess complex risk factors and pricing strategies.
- Ability to communicate complex underwriting concepts clearly to both technical and non-technical stakeholders.
- Proficient in Connexure ESL Office and MS Office (Excel, Word, PowerPoint).
- Strong understanding of regulatory compliance requirements in the medical stop loss and health insurance sectors.
- Detail-oriented with strong organizational and time management skills.
- Ability to work in a fast-paced environment and adapt to changing market conditions.
TRAVEL:
Occasional travel may be required for meetings, conferences, or client visits. This includes compliance with all of the requirements of the localities and destinations, as well as transportation carrier requirements.
