Level 1 Underwriter
City : Burnaby
Category : Health Insurance
Industry : Insurance
Employer : Pacific Blue Cross
Pacific Blue Cross has been British Columbia's leading benefits provider for 80 years. We are an independent, not-for-profit society with strong roots in BC’s health care system. Together with our subsidiary BC Life, we provide health, dental, life, disability and travel coverage for approximately 1.5 million British Columbians through employee group plans and through individual plans for those who do not have coverage with their employers.
We are fueled by a commitment to keep health care sustainable for all British Columbians. Through our Community Connection Health Foundation, we also provide funding to community organizations with a focus on alleviating mental illness and chronic disease. We're interested in finding people who want to make a difference and who will take advantage of every opportunity to build a career with us.
Pacific Blue Cross offers an attractive compensation and benefits package, fitness programs, and an onsite gym and cafeteria. Our workplace culture values health and wellness, continuing education, environmental sustainability and giving back to the community.
If you are committed to improving the health and well-being of British Columbians, we are currently recruiting for a Level 1 Underwriter to join our Underwriting team! This is a temporary, up to 12 months role and will require working from both, office and home (hybrid).
Under the general supervision of the Manager, Brokerage Accounts or Major Accounts, and as a member of an assigned Brokerage or Major Accounts Underwriting Team, reviews new business opportunities, renewal requests and contract amendments for potential and existing brokerage clients who fit within established Level 1 parameters for group, premium size and underwriting method such as fully insured or Administrative Services Only (with deposit); assesses eligibility and risk based on multiple underwriting considerations, identifies declines, calculates rates and prepares proposal and renewal package documentation; reviews New Group Set Up packages; in partnership with Account Managers, Group Administration and other team members, prepares customized reports for brokerage clients and identifies underwriting options for containing client costs; pursues creative solutions that balance client needs against PBC’s ability to deliver on commitments; as a member of the Underwriting Team, identifies opportunities to improve underwriting processes and tools, and provides input and recommendations to enhance efficiency, effectiveness and customer service.
Customer, Client and Member Service: Prospective New Clients
- As a member of an assigned Brokerage or Major Accounts Underwriting team, reviews new business opportunities for potential brokerage clients who fit within established Level 1 parameters for group, premium size and underwriting method such as fully insured or Administrative Services Only (with deposit) by:
- identifying factors which result in decline of opportunities to quote and consulting with next level up Underwriters for confirmation of decline in unclear cases;
- analyzing Requests to Quote to assess eligibility and degree of risk including reviewing the industry type, years in business, existing benefits, family content, occupations to be covered, dates of hire, location, salary levels, participation, age distribution, benefit levels, classing criteria, non-standard ownership and collective agreement impacts if in a unionized environment;
- assessing revious group claims experience;
- calculating rates for benefits based on results of analysis;
- forwarding completed quote to Underwriting Assistants for generation and distribution of the final proposal document.
- responding to general inquiries such as claims turnaround times and services provided;
- consulting with brokers to explore alterations in plan design to accommodate group situations while still remaining competitive;
- Reviews New Group Set Up packages to assess impact of any changes occurring in group risk assessment factors since the original quote was made; re-calculates pricing if required and consults with Account Managers to determine appropriate action in the event of rate changes; prepares group history summaries, volume reports, rate breakdowns for benefit type and other documentation associated with new group set up and forwards to Underwriting Assistant for completion and distribution.
Customer, Client and Member Service: Group Renewal and Retention of Existing Clients
- Reviews renewals and requests for benefit changes in group contracts for existing brokerage clients who fit within established Level 1 parameters, assesses risk and determines renewal rates or rate changes by:
- analyzing claims experience, credibility, group size, industry and economic influences, rating method and other factors which could potentially influence pricing or ability to renew;
- assessing requested basic amendments to plan design to determine impact;
- identifying and pursuing upselling opportunities;
- calculating rates for benefits based on results of analysis;
- consulting with Account Managers to determine degree of leeway present for negotiating alternate pricing or plan alterations to preserve existing relationships while managing costs, or to mitigate the impact of extreme rate changes;
- generating a renewal package including all required support documentation and forwarding to the Underwriting Assistant for processing and distribution.
- In partnership with Account Managers, Group Administration and other team members, prepares customized reports for brokerage clients on claims, premiums paid, transfers and other financial or client experience data; on an ongoing basis, identifies underwriting options for containing client costs, particularly in the areas of plan design, and pursues creative solutions that balance client needs against PBC’s ability to deliver on commitments.
General Team and Department Support
- As a member of the Underwriting Team, identifies opportunities to improve underwriting processes and tools, and provides input and recommendations to enhance efficiency, effectiveness and customer service.
- Using the intermediate features of spreadsheet software, creates, edits and formats worksheets including entering and editing data, and creating formulas to automate multiple manual calculations relating to underwriting rates or the creation of customized client reports.
- On a one to one basis, supports new employees by demonstrating the execution of specific tasks and duties, and sharing knowledge and experience on request.
- Maintains up to date knowledge of underwriting practices, policies and procedures, system requirements and other information related to the provision of underwriting through continuous learning initiatives, in consultation with more senior underwriters, may participate in learning enrichment activities associated with underwriting for larger and/or more complex groups as opportunities arise.
- Provides back up support to Underwriting Assistants as required.
- Performs other assigned duties related to the provision of underwriting and administrative support which do not affect the rating of the job.
- Bachelor’s degree (or equivalent) in a related field such as business administration, economics or finance including demonstrated proficiency with Intermediate Level Excel and Basic Word
- A minimum of 1 year previous related experience in a PBC Underwriting Assistant position (or equivalent) or in an external group insurance position with some exposure to life, disability or other insurance environments.
- Typing skills of 40 wpm
- Successful completion of two introductory courses in the FLMI or CEBS programs (or equivalent)
We strive to create a workplace where everyone feels valued and employees feel empowered to freely participate and contribute regardless of race, ethnicity, gender, sexual orientation, religion, ability, education level, parental status, or socioeconomic status. PBC is an equal opportunity employer and welcomes applications from all qualified candidates.
To request an accommodation in completing this application, pre-employment testing, interviewing or otherwise participating in the employee selection process, please direct your inquiries to firstname.lastname@example.org