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Director of Underwriting

Company: Health Alliance Plan of Michigan
Location: Troy
Posted on: September 9, 2020

Job Description:

POSITION SUMMARY

Health Alliance Plan is currently seeking a Director of Underwriting to provide oversite for premium negotiation, rate setting and risk adjustment for commercial large and small group insurance. This role will partner with the sales and actuarial organizations on rate development and manage a team of underwriters.

PRIMARY OBJECTIVE

The Director of Underwriting will be responsible for the overall planning, direction and management of the insurance company's underwriting administration. This includes pricing, stop loss protection, credibility formulas, product parameters and input regarding product inclusions and exclusions. Assists in developing insurance company policies and objectives and directs activities of staff to ensure achievement of company goals. Also promotes development of corporate policies, procedures and philosophies resulting in quality customer service.

PRIMARY DUTIES AND RESPONSIBILITIES

---Responsible for the overall pricing, design and profit results of the health insurance operations and other insurance products offered by the insurance company.

---Responsible for directing the formulation and implementation of the insurance company's underwriting and risk-taking policies and objectives.

---Provide guidance and counsel to various underwriting areas and assist in major case underwriting.

---Direct and monitor performance of the underwriting department, including budgeting, financial reporting, loss reserving, financial analysis, regulatory filings and customer financial reporting.

---Ensure that the insurance company's underwriting and pricing practices are in compliance with applicable government and other regulatory agency requirements. In doing so, directs the preparation of periodic financial and operating reports in order to appraise senior management of the company's underwriting results.

---Actively participate in strategic planning for the insurance company and for support of the operating units.

---Direct development and attainment of objectives for all underwriting for lines of insurance offered by the insurance company. Assure development and implementation of policies, guides and procedures of all underwriting.

---Act as liaison between senior management and the underwriting department to ensure dissemination of information and necessary cooperative action.

---Provide pricing for new business as well as account renewals.

---Responsible for maintaining a manual rate system.

---Negotiates and places stop loss insurance for company's book of business.

---Assist sales and marketing in large new business proposals and large business renewals.

---Define product parameters, i.e., copays and deductibles.

---Establish and monitor credibility formulas.

---Provide input on all product and pricing exceptions, denials and acceptances.

---Perform other related duties as assigned

REQUIRED EDUCATION AND EXPERIENCE

The ideal candidate should have a minimum of a Bachelor's degree in business, mathematics, statistics, finance or other closely related areas however a Master's Degree is highly desired.

A minimum of 10 years of experience in health insurance underwriting, finance, actuarial, risk or related experience is required. Knowledge in underwriting principles, rate setting, cost analysis, statistics, operations research, financial analysis techniques, accounting procedures, budgeting and other related areas is required. This position requires a minimum of two years of experience managing direct and indirect reports and a strong preference will be given to candidates who have experience creating development and training programs for underwriters.





Keywords: Health Alliance Plan of Michigan, Troy , Director of Underwriting, Executive , Troy, Michigan

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