Benefits Underwriter IV - Employee Benefits

General Description :

Responsible for independently analyzing information and creating financial deliverables for large clients with complex, primarily self-funded benefit programs.

Responsibilities :

• Responsible for financial analytics for clients that are self-funded. Typical client size is larger than 1,000 lives.
• Prepare analyses often with customization. Analyses may include :
• Market review analysis
• Renewal rate and funding projections and modeling
• Analysis of claims utilization
• Rate and Contribution analysis
• Claims experience reports
• Benchmarking
• Financial funding analysis
• IBNR and lag analyses
• Multi-year technical claims review with utilization metrics, gap in care, cost modeling, and benchmarking
• Develop alternative strategies, plan modeling, and cost reduction opportunities. Includes developing custom illustrations to present financial metrics according to client preferences.
• Perform technical analysis of group insurance contracts and financial arrangements.
• Serve as primary contact with insurance carriers. Negotiate and market coverage for new business quotes and renewals. Includes requesting quotes and evaluating options., negotiating rates and benefit features, and preparing renewal / new plan options with executive summary.
• Develop and maintain excellent carrier relationships.
• Review and validate carrier renewal rating illustration.
• Analyze experience and claims utilization data for financial and plan usage conclusions. Includes identifying trends and relationship of experience to renewal rating. Suggest renewal activities based on findings from experience data.
• Provide guidance and support to analysts on financial and utilization data analysis.
• Independently write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. Articulate USI strategic objectives.
• Prepare carrier and client written correspondence. Includes carrier renewal confirmation letters and client renewal letters.
• Regularly conduct analysis using USI internal and third-party external tools. Includes USI 3D, USI Clear Options Rx, and actuarial tools.
• Collaborate with service team members to ensure deliverables are in line with clients’ strategic objectives. Make recommendations for client actions based on analysis of customer data.
• Act as a resource for sales executives in developing strategic plans and solutions for clients and prospects.
• Occasional participation at client meetings to review financial deliverables required.
• Assist with team development as directed by Team Lead. Includes developing and delivering team training, onboarding new team members, mentoring analysts, and participating in interviews.
• Assist with the development of team standards and processes.
• Serve as escalation point and resource for the team.
• Participate in the peer review process, primarily as a reviewer for Level I, II, and III analysts. Mentor analysts via their reviewed work and provide strategic feedback.
• Keep current on industry and new product information, legislation, technology, and trends.

Knowledge, Skills and Abilities :

#LI-SM1

Why USI?

With more than $2.5 billion in revenue and over 10,000 associates across 200+ offices nationwide, USI is one of the largest insurance brokerage and consulting firms in the world. At USI, we have created one of the most dynamic personal and professional development cultures in the industry. We invest heavily in our associates, and we take pride in celebrating their growth and success through our one-of-a-kind employee reward and recognition programs. We invite you to learn more about what makes USI an exceptional place to work!

Unrivaled Resources and Support

What truly distinguishes USI as a premier insurance brokerage and consulting firm is the , a game-changing value proposition that delivers to clients a robust set of risk management and benefit solutions with bottom-line financial impact. USI ONE® represents Omni, Network, Enterprise—the three key elements that set USI apart from the competition. Through USI ONE, we develop strategic, timely and effective risk management and benefit programs in terms that are easy to understand, and we demonstrate how the solutions can have a positive economic impact.

Industry-Leading Programs, Rewards, and Recognition

In addition to competitive pay, incentives, and benefits, USI recognizes associates through our Summit Awards program, rewarding excellence in those who build our brand each day. USI offers that recognize outstanding achievement and help our associates lead healthy, productive lives. We turn care into action with our award-winning wellness program, college scholarships for associates' children, and financial help in times of need.

Deep Community Engagement

We are committed to giving back to our local communities and supporting a culture of environmental sustainability. From sharing our time, talent, and resources to support local non-profit organizations, animal shelters, and environmental beautification and restoration projects – to partnering with eco-conscious vendors and taking steps to reduce our own environmental footprint – we’re working to build a better future.

Committed to a Diverse, Equitable, and Inclusive Workplace

Our award-winning diversity, equity, and inclusion program educated our associates to help them better understand and serve our clients, prospects, fellow team members, and local communities through curated education and training resources, employee support programs, and community outreach initiatives to build a more diverse, equitable, and inclusive culture.

Nationally Recognized as a Top Insurance Employer

Recognized as one of Insurance Business America’s Top Insurance Employers for six consecutive years (2018-2023).

USI is committed to providing a full-suite of competitive benefits for our growing population and its diverse needs. We offer a wide range of health, welfare and financial benefits including medical, wellness, dental and vision, 401(k), flexible spending and health savings accounts, short and long-term disability, life insurance and other unique employer-sponsored and voluntary programs. USI also offers a generous paid time off policy, paid family leave benefit as well as paid holiday time .