Underwriting Consultant Job Description
Underwriting consultant
provides underwriting guidance and referral underwriting approval to underwriting staff on risks outside their authority as necessary.
Underwriting Consultant Duties & Responsibilities
To write an effective underwriting consultant job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriting consultant job description templates that you can modify and use.
Sample responsibilities for this position include:
With staff in Product Management and BI Underwriting, responsible for identifying and developing underwriting policies, guidelines, practices and system strategies which lead to the attainment of both line of business and geographic growth and profitability
Performs underwriting quality assurance reviews to evaluate the quality of risk selection, pricing, and compliance with Company policy
Conduct ongoing audits and reporting of underwriting logic, referral underwriting outcomes, client reporting and other audit tasks as necessary
Supports the Global R&D effort around changes in underwriting, new data sources and predictive algorithms with an emphasis on underwriting approaches, systems, market changes
Involvement in the underwriting function of the pricing process
Combine underwriting risk assessment skills and data analysis experience to evaluate underwriting data
Partners with Underwriting training and Quality Assurance as new projects, small enhancements or daily updates are made to ensure process is documented and communicated across the Underwriting organization
Execute all items in sample by assessing whether underwriting rules and guidelines have been adhered to and that risk decisions are appropriately documented and supported
Builds underwriting expertise for area of specialization
Develop and maintain underwriting guidelines and associated documents
Underwriting Consultant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriting Consultant
List any licenses or certifications required by the position: AFSB, LOMA, ALU, GBA, HIAA, CEBS
Education for Underwriting Consultant
Typically a job would require a certain level of education.
Employers hiring for the underwriting consultant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Business, Management, Math, Technical, Education, General Management, Mathematics, Engineering, Marketing
Skills for Underwriting Consultant
Desired skills for underwriting consultant include:
CNA’s products and appetite while clearly communicating CNA’s position at the point of sale
Coverages
Strategies to ensure underwriting guidelines are followed
Tools to gather and evaluate information in order to reach appropriate decisions on renewals and new business
Underwriting processes
Their customers businesses
Accounting
Pricing
Underwriting
Finance as applied to the evaluation of life reinsurance risks and of life insurance risks
Desired experience for underwriting consultant includes:
Focused and versatile team player able to work collaboratively across all channels and departments
Strong knowledge of P&C products and processes
Sound business acumen, exposure to enterprise initiatives and asset
Focused and versatile team player that is comfortable under pressure and with ambiguity
Quantify the population of transactions for the Life line of business/products/geographic regions/underwriters that will be subject to quality review
Determine the risk characteristics of the populations and segment or stratify accordingly
Underwriting Consultant Examples
1
Underwriting Consultant Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of underwriting consultant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriting consultant
- Propose, and assist in the specification of, system changes designed to provide risk mitigation, capitalize on business opportunities, implement underwriting rules, or increase the effectiveness of our business intelligence capabilities
- Participate in the creation of rules and studies designed to incorporate additional underwriting evidence
- Special focus on all issues related to new data sources and accelerated underwriting
- Development, maintenance and enhancement of prediction models around preferred risk selection, electronic data sources and automated underwriting programs
- Utilizes underwriting technical and operations expertise to partner with other business units in the development, review and implementation of new processes and systems
- Serve as underwriting SME, representing the departments with other business units, identifying potential issues and/or changes that could affect workflows and efficiencies across the business platform
- Collaborates effectively on behalf of the underwriting department with management & appropriate project stakeholders on more complex issues & conflicts that impact time, cost, scope, quality & risk of assigned projects
- Facilitates project communications with Underwriting leaders
- In partnership with Underwriting leadership, identifies more complex project resourcing need
- Create, update and validate best practices related to Underwriting process, procedures and systems
Qualifications for underwriting consultant
- Select samples that achievea broad cross-section of coverage and reflect risk characteristics by applying greater weighting in higher risk transactional areas
- Perform periodic portfolio audits by assessing the risk characteristics and profile of designated aspects of the force in portfolio of business and relateing this assessment back to risk selection practices
- Contribute to robust risk selection and risk management practices throughout the insurance life cycle by participating in integrated reviews of all inter-connected business partners
- Contribute to robust risk selection and risk management practices throughout the insurance life cycle by participating in integrated reviews with all inter-connected business partners
- Calculates renewal rates for large complex cases based on thorough analysis of experience, location, demographics
- Experience creating client presentations using Microsoft Office programs and use of client databases
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Underwriting Consultant Job Description
Job Description Example
Our company is looking for an underwriting consultant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for underwriting consultant
- Build, develop and display expertise in all dimensions of underwriting, including technical capability, account management and business acumen
- Consistently demonstrates the ability to develop broker and customer relationships, apply the highest level of underwriting skill and creativity, and make large contributions to the organization
- Ability to independently analyze a company’s hazards, coverage, losses, pricing terms, and competitive positions
- Present the application of underwriting concepts and will be held accountable for decisions made on their accounts
- Utilize analytical, problem solving and leadership skills to execute and deliver underwriting initiatives
- Search for and incorporate competitive intelligence to develop and refine underwriting capabilities
- Support in the development of the New Business Underwriting strategy for all lines of business
- Possesses a superior understanding of both medical and financial underwriting concepts, and stays current on related industry trends and advancements
- Devise and directly negotiate complex financial arrangements and settlements, as required, with client officers and personnel in local and national brokerage firms (with modest supervision)
- Share in-depth understanding of all policies and procedures and tools
Qualifications for underwriting consultant
- Minimum of 10 years experience in Living Benefits Underwriting
- Expert knowledge of Living Benefits products, risk selection principles, insurance regulations, and underwriting processes
- Assist by ensuring that underwriting rules and guidelines remain relevant and practical by confirming adherence and/or recommending when modifications are needed
- 4+ years of experience demonstrating financial analysis / risk assessment skills the ability to work with data
- Advanced level of knowledge of insurance operations
- Strong ability to identify, analyze and solve problems the ability to learn rapidly, adapt quickly to change, exercise influence, and manage and prioritize multiple concurrent projects
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Underwriting Consultant Job Description
Job Description Example
Our company is looking for an underwriting consultant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriting consultant
- Review lower risk loan transactions as defined by underwriting manager
- In conjunction with credit coach and underwriting manager, develop skills through training mentoring , and experience to become Level 2 underwriter
- The proficient use of an automated underwriting system to augment the risk analysis process, which requires acceptance and understanding of artificial intelligence technology
- Monitor set-up suspend pipeline for follow up on loans submitted for underwriting
- Consult with clients and potential clients to understand business needs and objectives and propose solutions
- Provide high level guidance and tracking of the client’s integration efforts, and coordinate resources to provide detailed technical assistance where necessary
- Analyze patterns of production data to identify trends, business risks or opportunities
- Create and maintain process documentation as required
- Deliver tangible results that can be incorporated into business processes
- Be part of the client RFP process and aid in the collection and benchmarking of information and the formation of responses as necessary
Qualifications for underwriting consultant
- 3 – 5 years of Group Insurance underwriting experience that directly aligns with the specific responsibilities in this position Life, STD, LTD and/or Dental product knowledge required Medical or Worksite experience may be considered
- Educational pursuits toward industry designation programs such as
- 5-7 years Medical Underwriting experience, with knowledgeand understanding of self-funded and fully insured arrangements
- Demonstrates a high level of commitment to customer/client service
- 4-8 years combined life Insurance underwriting, management, program risk management, process and product development
- Ability to apply underwriting concepts and design appropriate analytic and risk management measures
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Underwriting Consultant Job Description
Job Description Example
Our company is looking for an underwriting consultant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for underwriting consultant
- Project/Process management across Client Underwriting and include multiple products and/or lines of businesses
- Ability to communicate effectively with the BGA's our wholesalers to explain the rationale behind our underwriting decisions
- Maintains a positive, can do attitude towards the success of Symetra's underwriting team
- Focuses on meeting and exceeding our service standards on turnaround times of cases and provides strong customer service skills in maintaining solid underwriting relationships
- Provide proactive suggestions and improvements in our underwriting practices in order to increase our competitiveness
- Ensure that responses to requests take place in a timely and accurate basis and meet agreed upon timeframes
- Provide metrics and reports to track and document progress within defined projects
- Document processes and develop strong controls and procedures for data processing and mining
- Exploration of the applicability of U.S. based approaches to the global market and vice versa
- Function effectively and professionally within a team with little supervision
Qualifications for underwriting consultant
- Some portion of work experience utilizing rules based, automated underwriting systems, including development and enhancement of rules, process, preferred
- Some portion of work experience utilizing Rx in the underwriting process, preferred
- Simplified or Guaranteed Issue program underwriting or development experience
- Strong organization and initiative skills, preferred
- May perform other duties as required for the position
- 10+ years of life underwriting experience
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Underwriting Consultant Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of underwriting consultant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriting consultant
- Keep up to date with medical knowledge, developments and trends in underwriting and the insurance industry
- Participates in Underwriting reviews/roundtables to better understand operations and exposures and how an account manages their risk in support of quality risk selection
- Provides technical support to NI Underwriting employees by advising them about applicable legislative and jurisdictional challenges, industry trends and methods to reduce risk
- Monitors metrics/data to ensure processes are followed and applied consistently
- Coordinate closely with business leaders, training and quality resources, and subject matter experts to resolve procedural overlap and inconsistencies
- Write and/or edit communications for our customer
- Lead in identifying issues and recognize approach to solution
- Actively participate in departmental meetings and training
- Make recommendations for alternate plan sponsor solutions
- Maintaining green metrics for all Business Continuity deliverables
Qualifications for underwriting consultant
- Preferred 2 years reinsurance underwriting experience
- Proven team player with ability to manage multiple and competing priorities
- Ability to adapt effectively with change and to support the goals of the Global R&D team and the company through teamwork and additional hours as required
- PC literacy in Office product suite, including Word, Excel, and PowerPoint and underwriting systems
- Regular attendance is a minimum requirement of the role although working from a remote office can be an option if approved by the immediate supervisor
- 4-5 years of experience with Group Products (Life and Disability) and Business Areas