Senior Underwriter

Career Opportunity Role Title Senior Underwriter Purpose of role The Senior Underwriter is responsible for underwriting life insurance application using universally recognized underwriting principles by evaluating health, financial, lifestyle and other risk factors to determine the appropriate underwriting rate class, while managing and maintaining service levels and acceptable mortality results. The incumbent will work closely with and establish strong relationships with company stakeholders including New Business, Actuarial, Claims, and Distribution.

Job Description

Key Responsibilities Review insurance application files for new business, reinstatements and coverage change requests Establish and maintain effective relationships with producers, including communicating the underwriting decision Balance investigative costs for tests/assessments versus risk management requirements to make informed underwriting decisions and determine steps to be taken to fully evaluate the application, including identifying additional required information and/or professional resource assessment reports Order required medical tests/assessments, as required.

Arrange for any additional required assessments from professional resource contacts and contact the producer to obtain missing application information Research, interpret and analyze information relevant to the application, including product details, legislation, rate manuals, medical/drug reference books, applicant insurance history, motor vehicle reports and other relevant sources. Access (decode) confidential medical information related to the applicant through the Medical Information Bureau (MIB) Efficiently document the applicant file on the Underwriting systems as additional information is received.

Code and enter data from received medical reports to the information system Complete a full underwriting assessment of the application following the receipt and review of all required information, considering potentially competing factors such as new/increased business income to Foresters versus risk of significant financial loss.

Consult with Chief Underwriter as required on complex underwriting issues Finalize the underwriting decision within approval limits as assigned by the Chief Underwriter, carefully distinguishing standard from preferred and preferred plus risks, and authorize issues of the new or revised insurance certificate for approval applications Initiate processes to refer application files for reinsurance as required Compose related correspondence to members/producers related to the information required to assess the application with appropriate reconsiderations , where possible; advisory letters to the member and producer regarding the approval/decline of the application, letters containing confidential medical information to the applicant’s physician related to a decline decision Participate in the research, review and analysis of underwriting related legislation and regulations, and current…

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