Job Description
Key Responsibilities
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.
- 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.
- 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 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 underwriting issues and trends, and participate in the review and development of new/revised underwriting policies, procedures, systems and standards as assigned by the Chief Underwriter.
- Work with the Medical Director on cases as required.
Key Qualifications
- 4+ plus years of underwriting experience.
- Achieved AALU and working towards FALU/FLMI designations.
- Strong medical and financial underwriting knowledge
- Experience with simplified issue and final expense type products
- Demonstrated risk assessment skills
- Demonstrated leadership skills
- Strong verbal and written communication skills in both French and English to effectively provide and explain appropriate underwriting assessments and possible reconsiderations to producers
- Consultation and communication skills to request information from a broad range of resources/professionals as required
