Life and Disability Group Insurance Underwriter

Job Requisition ID:91388

Location Designation:Fully Remote

Group Benefit Solutions delivers comprehensive insurance and absence management solutions for mid-sized and large companies. Our work fosters a healthier, happier, and more secure workforce, contributing to New York Life's legacy of being there when we're needed most. Here, you'll design, implement, and support these solutions directly impacting employees' lives. At our core, we provide financial security and peace of mind to people through our absence, accident, disability, voluntary benefits, and life insurance solutions. Click here to learn more about Group Benefits solutions.

Role Overview:

The Group Benefit Solutions Underwriting Organization partners with Sales, Client Management, Pricing, Risk Management, and other business partners to evaluate and manage risk. We are responsible for analyzing employer group characteristics and plan designs to determine the appropriate rates for Life, Accident, Disability and Absence products. One of our key priorities is to manage the growth and profitability of our portfolio, through new business sales and the persistency and margin improvement of our inforce book of business. Our team also includes the Medical Underwriting organization that evaluates the risk of individual applications for Life and Disability coverage, as well as our UW Operations organization that helps to drive efficiency and productivity in our process.

Candidates for this position will be required to learn the manual rating models and related pricing tools; knowledge of pricing adjustments and available plan designs; and an ability to assess financial risk based on multiple information sources. This role also requires renewal underwriting on an assigned inforce book of business, focused on attaining profitable growth, persistency, and earnings as well as book of business management. The underwriter is responsible for account level rate development and conducting customer negotiations with other underwriting areas and Sales on their book of business. The underwriter will evaluate and analyze total case profitability and develop strategic recommendations related to market competition, product development, and market pricing decisions.

What You'll Do:

• Manages an assigned book of business, focused on attaining profitable growth, persistency, and earnings.
• This role encompasses both new business and renewal underwriting for New York Life Group Benefits Solutions Life, Accident, Long Term Disability, Short Term Disability, and Absence products and services.
• Perform case specific risk assessments to develop appropriate premium rates for a given risk to support the market's growth and profitability goals.
• Responsible for account level rate development and conducting customer negotiations with Sales on a more complex book of business.
• Develops and monitors account earnings plans to achieve growth and profitability.
• Develops strategic recommendations related to market competition, products, and pricing.
• Partners with sales department and brokers to deliver customer presentations and acts as financial consultant on case-specific issues.
• Influences underwriting best practice and provides input to matrix partners on product development and pricing.
• Mentors and trains less tenured underwriters. Help increase their understanding of risk management & underwriting, maintaining focus on technical knowledge and competency skill development.
• Trusted resource and technical expert to team and matrix partners. Act as the UW technical expert on enterprise projects associated with new innovations or initiatives.

What you'll bring:

• Bachelor's degree or equivalent work experience required
• 3+ years of Group Life, Accident, Long Term Disability, Short Term Disability, and Absence underwriting, or other relevant experience required
• In-depth rating, product, and financial knowledge
• Ability to make effective decisions based on strong knowledge of all financial and risk levels, both internal and external
• Thorough knowledge of risk factors that influence market and competitive conditions
• Strong time management skills, highly organized, detail oriented
• Demonstrated knowledge of large employer groups with multi-carrier product offerings and has awareness of the drivers of a marketing outside of group insurance specific dynamics
• Ability to foster strong working relationships. Demonstrated strong ability balance stakeholders and matrix partners
• Strong interpersonal and communication skills. Communicates complex ideas; persuades and negotiates effectively
• Ability to lead discussions and deliver external presentations and analysis to a diverse client base

It is recommended that all qualified candidates apply to this posting as soon as possible. Residents of Colorado are hereby notified that the deadline to apply is two weeks from the Posting Date listed above.

#LI-KH1
#LI-REMOTE

Pay Transparency

Salary range:$67,500-$100,000

Overtime eligible:Exempt

Discretionary bonus eligible:Yes

Sales bonus eligible:No

Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications, and job location. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Diversity Promise

We believe in a diverse workforce because it is our mission to advocate for the financial security and success of people in every community. This is why diversity, equity, and inclusion (DEI) are guiding principles that are embedded in our brand and our culture. Click here to learn more about how we have been recognized for our leadership.

Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by theFoundation.We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

Job Requisition ID:91388