Voluntary Benefits Underwriting Advisor

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Date: Jan 17, 2023

Location: Philadelphia, PA, US

Company: New York Life Insurance Co

Location Designation: Hybrid 

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

GBS

 

 

Alternate locations: Philadelphia, PA (Pennsylvania); Bloomfield, CT (Connecticut); Chattanooga, TN (Tennessee); Overland Park, KS (Kansas); Phoenix, AZ (Arizona)

 

GBS Voluntary Benefits Underwriting Advisor

 

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 across our suite of group insurance products. 

 

This position represents a unique and exciting opportunity to prepare the Underwriting organization for NYL’s re-entry into the voluntary benefits market with the upcoming release of our new Accident Insurance, Critical Illness, and Hospital Indemnity products. 

 

Reporting to the Head of Voluntary Benefits Underwriting, this position will initially be responsible for partnering with IT, Product, Pricing, and other areas to develop the Voluntary Benefits tools and systems required by the underwriting team.  This role will also initially be involved in developing and implementing the end-to-end underwriting process for voluntary benefits products, including development of training materials, best practices, risk and pricing adjustment guidelines, limits of authority, etc.  Upon successfully preparing the underwriting team to begin quoting for market re-entry, the candidate can also support case underwriting, and be responsible for account level rate development and conducting client negotiations with Sales, while providing ongoing support to technology, process, and best practices.

 

Ideal candidates for this position will have prior knowledge and experience of voluntary Accident Insurance, Critical Illness, and Hospital Indemnity products and underwriting. 

 

Responsibilities:

 

Underwriting Operations

  • Support Voluntary Underwriting tool and process development and initiatives including the rater build and Underwriting policies and procedures.
  • Develop Voluntary Underwriting best practices related to tools, technology, and process.
  • Proactively advocate for Underwriting and partner effectively with key matrix organizations (Sales, IT, Pricing, Product, Service Ops, Legal) to develop solutions that meet the needs of the team and Enterprise.
  • Anticipate and address Underwriting business process questions, and ensure Underwriting needs and perspectives are known and incorporated into tools and processes.
  • Assist with Underwriting training as needed.

 

Case Level Underwriting

  • Underwrite new business opportunities for New York Life Group Benefits Solutions Accident Insurance, Critical Illness, and Hospital Indemnity products.
  • Perform case specific risk assessments to develop appropriate premium rates for a given risk to support growth and profitability goals.
  • Act as a trusted resource and technical expert to the Underwriting team and matrix partners.
  • Develop strategic recommendations related to market competition, products, and pricing.
  • Represent Underwriting on projects and initiatives.

 

Qualifications:

  • Bachelor’s degree in a business subject area preferred, or equivalent experience required.
  • Minimum of five years of Group Accident Insurance, Critical Illness, Hospital Indemnity, or other relevant experience required.
  • Demonstrated knowledge of project management tools and methodologies.
  • Ability to independently lead projects and key deliverables.
  • Ability to establish priorities, confirm and communicate decisions, work on multiple assignments, and adhere to deadlines.
  • Innovative thinker who is self-motivated to learn and look for ways to improve our process.
  • Comfortable dealing with ambiguity and willingness to pivot quickly when needed.
  • Ability to make effective decisions based on independent risk analysis and strong financial acumen.
  • Thorough knowledge of risk levers and rating factors that influence market and competitive conditions.
  • Strong interpersonal skills that foster collaborative working relationships.  Demonstrated ability to balance stakeholder and matrix partner goals to achieve optimal outcome.
  • Strong written and oral communication skills. Ability to analyze and explain complex ideas; persuade and negotiate effectively with the ability to deliver both internal and external presentations.
  • Highly organized and detail oriented. Able to manage time effectively and prioritize workload to meet deadlines.

 

Locations: Hybrid Work Schedule: Philadelphia PA, Kansas City MO, Chattanooga TN, Farmington CT, Phoenix AZ.  Fully Remote can be considered. 

 

 

#LI-KH1

#LI-HYBRID

#LI-REMOTE

 

 

Salary range: $77,500 - $116,500 

Overtime eligible: Exempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

 

Click here to learn more about our benefits. Starting salary is dependent upon several factors including previous work experience, specific industry experience, and/or skills required.

 

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 the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 88445

 

 

 

 

 


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