What are the responsibilities and job description for the Voluntary Underwriter I position at Reliance Matrix?
Job Responsibilities and Requirements
The Voluntary Product Underwriter I underwrites Voluntary Products, including but not limited to Critical Illness, Hospital Indemnity, and Accident Insurance, responsible for assessing risk and making and communicating decisions in a manner that contributes to the profitability of the product and reputation of RSL. The Voluntary Product Underwriter will be responsible for working with sales and service teams, core line underwriters, and other functional departments to price and administer new business and inforce business primarily on a manual-rated basis. The person will also be responsible for participating in projects (10% of their time) that focus on efficiencies and effectiveness of the underwriting function.
New Business Pricing and Inforce Business Renewals
- Independently evaluates and synthesizes information in order to accept, modify, or reject risks on all voluntary business, utilizing information presented for review including various artifacts such as RFP, census data, and current policy.
- Utilizes experience in the industry, understanding of the client and marketplace to review and evaluate all assigned risks for the voluntary products that includes plan design, experience, and manual rates and provides guidance to sales, service, and all internal business partners to price and renew all business lines. Evaluates coverage amounts, premium rates and experience rates on new and inforce business for voluntary products, which includes new business submissions, amendments to in-force plans, and renewals exercising independent judgement to determine an overall case position.
- Evaluate inforce business opportunities to help generate cross-sell, enrollment, plan design changes and other NBOC (New Business Old Case) opportunities.
- Has an authority limit of up to $100,000.
Organizational Partnership
- Maintains a strong relationship with sales and service partners in the field.
- Following analysis and evaluation articulates decision rationale on case pricing.
- Effectively collaborates with colleagues in various functions (contracts, claims, compliance) to reach decisions favorable for RSL that are included in the sold case.
- Work with Sales Partners on potential prospects and building broker relationships in the Voluntary marketplace
- Plays a consultative role in helping sales understand how and why certain product features help or hinder risk mitigation
Miscellaneous
- Acts as a resource to other underwriters in the department regarding the voluntary product portfolio.
- Maintains updated records and case files in accordance with underwriting and records policies & procedures
Required Knowledge, Skills, Abilities, and/or Related Experience
- Bachelor of Science in Business, Risk Management, or other related area
- 2 years of underwriting experience
- LOMA, HIAA, and or CEBS Certifications recommended but not required
- Knowledge of Voluntary Business and Market environment
- Knowledge of Underwriting of voluntary products.
- Strong analytical and math skills; able to evaluate information from a variety of sources and solve complex problems
- Results and profit-oriented
- Demonstrated attention to detail
- Strong organizational skills; able to prioritize work with limited oversight
- Excellent communication and collaboration skills
- Displays basic knowledge of Excel, PowerPoint, and other Microsoft Office applications.
Ability to Travel: None
The expected hiring range for this position is $25.79 - $32.25 hourly for work performed in the primary location (Philadelphia, PA). This expected hiring range covers only base pay and excludes any other compensation components such as commissions or incentive awards. The successful candidate’s starting base pay will be based on several factors including work location, job-related skills, experience, qualifications, and market conditions. These ranges may be modified in the future.
Work location may be flexible if approved by the Company.
What We Offer
At Reliance Matrix, we believe that creating a more diverse, equitable and inclusive culture allows us to realize more of our potential. And we can’t do this without our most important asset—you.
That is why we offer a competitive pay package and a range of benefits to help team members thrive in their financial, physical, and mental wellbeing.
Our Benefits:
- An annual performance bonus for all team members
- Generous 401(k) company match that is immediately vested
- A choice of three medical plans (that include prescription drug coverage) to suit your unique needs. For High Deductible Health Plan enrollees, a company contribution to your Health Savings Account
- Multiple options for dental and vision coverage
- Company provided Life & Disability Insurance to ensure financial protection when you need it most
- Family friendly benefits including Paid Parental Leave & Adoption Assistance
- Hybrid work arrangements for eligible roles
- Tuition Reimbursement and Continuing Professional Education
- Paid Time Off, volunteer days, community partnerships, and Employee Assistance Program
- Ability to connect with colleagues around the country through our Employee Resource Group program and our Diversity Equity & Inclusion Council
Our Values:
- Integrity
- Empowerment
- Compassion
- Collaboration
- Fun
EEO Statement
Reliance Matrix is an equal opportunity employer. We adhere to a policy of making employment decisions without regard to race, color, religion, sex, national origin, citizenship, age or disability, or any other classification or characteristic protected by federal or state law or regulation. We assure you that your opportunity for employment depends solely on your qualifications.
Salary : $26 - $32
