Job Description

Job Title: Sr. Workers Compensation Underwriter
Job ID: 732095
Status: Full-Time
Regular/Temporary: Regular
Hours:
Shift: Day Job
Facility: UPMC Health Plan
Department: WORKERS COMP
Location: 123 S. Broad Street, Philadelphia PA 19109

Description

UPMC Health Plan is hiring a full-time Sr. Workers Compensation Underwriter to help support the Workers Compensation Department. This is a work from home position and the ideal candidate will be located in the Eastern PA region.

The successful candidate will perform the most complex rating projects and act as a mentor/trainer to the department as it pertains to risk assessment, including the determination of both the financial and non financial impact to UPMC Work Partners. The Commercial Lines Workers Compensation Senior Underwriter works in conjunction with the Sr. Director of Workers Compensation to develop a series of rating models, Underwriter Guidelines and Workers Compensation Rating Information. The Commercial Lines Workers Compensation Senior Underwriter will review binders, applications, renewals, and endorsements to determine acceptance, rejection, or coverage modification in accordance with company underwriting guidelines. Develop proper account pricing based on established company standards. Manage an underwriting territory in accordance with company goals, objectives and policies; as well as assist the Sr. Director of Workers Compensation to build the territory accordingly. Provides direction to Underwriting Technicians or Associate Underwriters.

Responsibilities:

  • Analyze and consolidate competitor information on an ongoing basis and report findings to management. Work with management in the development of underwriting policy, procedure and rating tools.
  • Analyze underwriting & marketing activities and corresponding results; prepare reports to management.
  • Analyze, select and profitably price commercial risks of moderate to high hazardous complexity (PCRB Risk Hazard Groups D, E, F), and determine terms and conditions of coverage on new and renewal business.
  • Apply and conform to underwriting rules and guidelines, rating manuals, insurance laws/ regulations.
  • Determine, coordinate and direct account management activities with various departments.
  • Develop and maintain client relationships and coordinate team efforts.
  • Identify opportunities for organizational improvement and recommend solutions.
  • Mentor and provide technical training and guidance to Underwriting Technicians and Associate Underwriters.
  • Negotiate and deliver proposals to producers and buyers.
  • Negotiate the terms and conditions for securing collateral relative to writing Loss Sensitive deal structures.
  • Perform in-depth financial analyses of large accounts to determine the appropriate collateral vehicle needed for Loss Sensitive deal structures.
  • Price accounts appropriately using guaranteed cost or large deductibles for risks with premiums greater than $100,000 and less than $500,000.
  • Select the appropriate loss sensitive product (retrospectively rated, large deductible, dividend, retention program) when and where applicable for risks with annual premiums greater than $500,000.
  • Utilize a consultative selling approach to generate new business consistent with underwriting strategy and in coordination with team members to include accurately assessing the needs of the broker and the client and formulating solutions that effectively address those needs.
  • Utilize and apply the underwriting guidelines appropriately and the ability to perform additional risk analysis.

 

Qualifications

  • Bachelors Degree or equivalent experience.
  • 5 years of WC underwriting experience.
  • Capable of handling accounts with premiums in excess of $300,000.
  • Previous experience with loss sensitive deal structures (retrospective rating, large deductible, dividend, and retention programs) required.
  • Knowledge in financial analysis, account management and collateral management is required.
  • Excellent research and analytical skills.
  • Excellent oral and written communication skills.
  • Capable of working as part of a team environment.
  • Proven ability to handle multiple and complex tasks.
  • Demonstrated ability to interact with various levels of management and support personnel.
  • Knowledge of local and regional market conditions as well as industry trends.
  • Knowledge of underwriting territory and strong relationships with the local distribution network (local and regional agents, national and regional brokers, and select consultants).
  • Demonstrated proficiency in the successful marketing and prospecting of business opportunities, as well as, relationship building and agency management skills.
  • Computer skills including knowledge of Microsoft Office Suite software.

    Licensure, Certifications, and Clearances:
    CPCU Designation preferred. Property Casualty License required.

    UPMC is an equal opportunity employer. Minority/Females/Veterans/Individuals with Disabilities

Salary Range: $30.89 to $52.76

Union Position: No

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