The Employee Health & Benefits (EH&B) Underwriter supports the EH&B sales and service departments in placement of new and renewal business, including but not limited to preparing all aspects of Medical & Dental underwriting projections, bid specifications, and quote analysis; assists in negotiation of final rates, and prepares recommendations and analyses for client presentations.
This position will develop and maintain relationships with local insurance carrier contacts and is an internal resource for technical assistance for all levels of Sales and Service. The EH&B Underwriter will be responsible for participating in new business and renewal client meetings when appropriate.
The individual will be assigned a book-of-business and will be responsible for managing all Underwriting related activity in terms of expectations and output. This involves careful planning and strategizing with the EH&B service team and balancing workload.
What can you expect to do?Analyze carrier data on complex clients and provide recommendations to account teams to help with the negotiation of rates and funding levelsPrepare and evaluate claim experience and utilization reports, as neededDevelop Fully Insured Medical & Dental renewal projectionsDevelop Self Insured Medical & Dental budgets and Working RatesAnalyze and recommend optimal funding arrangementsAssist in marketing, analysis and placement of Stop Loss coveragesPrice plan design and product alternativesAssist in modeling and setting Employee Contribution structuresAssist in reviewing contracts, preparing RFP specifications, and identifying markets for proposalsAssist in the workflow for monthly and quarterly financial reporting for clientsAssist in negotiating rates with insurance carriers and other vendorsProvide technical expertise, product updates, and training programs for the EH&B practiceFollow 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 & Dental)Conduct special projects as neededPerform duties according to established EH&B procedures and operate as directed by EH&B Practice LeaderTrack expense components and admin increases for renewals by carrier and update FRAT (Financial Revenue Administration Tool) tool accordinglyWhat do we offer?Generous benefits package:Comprehensive medical, dental and vision plans401K and company match programCompetitive paid time off programs ensure you have time to recharge including 15 vacation days, 3 personal days, 10+ holidays, 2 floating holidays, and 4 days for learning & developmentCompany-paid life and disabilityEmployee Stock Purchase PlanPaid parental leaveLove coming to work:Culture of respect that practices everything we preachRespect for the entrepreneurial spiritPlace to grow, to be challenged – but also to feel that you belongSpecial way to give back to your communityEntrepreneurial work environment and leadership styleOffice spaces designed to maximize innovation and collaborationA focus on taking time to celebrate success and build relationshipsGrowth and Development:Advance your career with MMA UniversityDesignation programs & CE coursesMentorship and leadership development programsOnsite learning opportunitiesBe appreciated and rewarded for your workTuition reimbursementWhat we look for:Minimum 5 years of experience in Large Group experience Underwriting with an insurance agency / brokerage / consulting firm and/or medical insurance carrierThorough understanding of medical and dental underwriting practicesGeneral understanding of Brokerage Agency strategies and positioning between client and insurerStrong organizational, analytical, and decision-making abilities as well as interpersonal skillsSolid ability to multitask and prioritize tasks and projectsProficiency in Microsoft Excel, Word, and OutlookLicense in Life, Accident and Health preferred; CEBS designation is a plusGood communication skillsAbility to Maintain favorable relationships with clients, vendors and colleagues4 year college degreeAbout Marsh & McLennan Agency:Colleagues at MMA don’t simply work together; they challenge each other to push further, think smarter, and love what they’re doing together. Our shared purpose is to be there for our clients in the moments that matter. That’s why working at MMA is a unique, exceptional experience. And that’s why, at MMA, you can make a career that makes a difference.
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. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. Marsh McLennan Agency offers competitive salaries and comprehensive benefits and programs including health and welfare, tuition assistance, student loan repayment, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs.
We promote a culture of personal and professional growth and an environment where we ask our colleagues to challenge each other and themselves. We allow for people to bring their whole-self to work. We support flexible work arrangements and provide the technology to enable this. We expect mutual engagement, so colleagues who own their career and performance will thrive and have a real opportunity to craft their career path. We strive to provide growth opportunities and a platform to jump from with the safety net enabling great rewards and low risk. The biggest risks we ask people to take are to plan for success and engage honestly with a positive and solutions focused attitude.