Group Insurance is an operating unit within the U.S. Businesses Division that primarily focuses on creating, distributing, and administering a complex range of life and disability insurance products for many top Fortune 500 companies. Prudential has been underwriting group insurance plans since 1916. Today, our Group Insurance business unit is the nation’s second largest group life carrier and a leading disability carrier, proudly servicing nearly 20,000 clients—and insuring more than 20 million employees and their families. Group Insurance has operation centers across the United States.
The Underwriting Specialist is accountable for underwriting Group Life, Disability and Voluntary proposals, renewals and on-going case activity in accordance with statutory regulations and existing underwriting policies and practices, assessing risk and making and communicating decisions in a manner which contributes to the profitability of the product and reputation of the company.
Main Job Responsibilities/Competencies:
Assesses, calculates and specifies the conditions under which Prudential is willing to accept risk on group life and disability business for prospective and in-force customers. This includes, but is not limited to, the review and analysis of risk criteria, demographic data, financial data, rating formulas, case specific experience, product filings and statutory requirements.
Independently applies Underwriting judgment, formulates pricing decisions, negotiates within their authority limit, and handles standard reporting requests. Proactively makes recommendations on cases and identifies creative solutions.
Independently communicates and negotiates with internal partners, and may begin to handle communications with external customers/brokers.
Actively engages in supporting the positive consultative outcomes crucial to our long-term success.
Creates accurate offers, standard experience reports and/or evaluations, projections for assigned accounts and may handle customized reporting requests. May provide case specific information for multi-year planning efforts and makes projections based on emerging account experience and trends.
Maintains updated records and case files in accordance with underwriting and records policies & procedures.
Demonstrates an awareness of regional trends, competitive landscape and factors that influence the marketplace and regulatory environment
Acts as a subject matter expert for low/medium complexity topics
Actively contributes to larger projects as a team member, demonstrating an understanding of both the upstream and downstream impacts of changes within and outside of Underwriting, may lead smaller scope projects within Underwriting.
Serves as a resource for less experienced underwriters and is actively involved in the training/mentoring process.
Group Life and/or Disability underwriting experience, preferably 5+ years,
Bachelor’s degree or equivalent work experience
Ability to work independently
Strong time management and organizational skills
Ability to prioritize work with limited oversight
Results and profit oriented
Strong Analytical and mathematical skills.
Proficient with Microsoft Office and email software
Excellent Excel skills
Excellent communication and collaboration skills
Ability to develop strong working relationships
Understands and adheres to policies and procedures
Exhibits behaviors aligned with leadership competencies