Operating within the core values and operating principles of the organization, the Life Underwriter II analyzes, evaluates, and classifies risk for life insurance applications in accordance with established underwriting policies. While working remotely, the Life Underwriter II enforces complex case underwriting and complaint resolution and is actively involved in procedure development.
The Life Underwriter II underwrites life insurance applications within guidelines established and determines whether to accept, modify, or decline a risk through evaluation of an individual's medical history or physical condition, occupational hazards, financial background, insurable interest, and other information pertinent to the decision. The Life Underwriter II may consult with management, senior underwriting technicians, or medical department concerning any medical or non-medical situations that require assistance. The Life Underwriter II has contact with the field sales force, customers, and vendors to gather information on which to base decisions. The Life Underwriter II has authority to approve cases up to specific standard and substandard limits, and referral Underwriters review cases requiring ratings or amounts in excess of prescribed limits and authority.
POSITION RESPONSIBILITIES:
- Reviews for acceptance or denial, assigned life applications with face amounts up to $1,000,000 fully underwritten to age 85, some substandard authority; and all simplified products all face amounts all ages.
- Verifies that appropriate application signatures and underwriting authorizations have been obtained and are valid.
- Determines and assures that appropriate information necessary to fulfill underwriting requirements has been requested such as; re-examinations, special exams, medical reports, database research, investigations and laboratory studies
- Reviews all requested additional information, evaluates medical history and approves or denies applications.
- Interprets MIB codes, and prepares data and reports to the Medical Information Bureau, which involves knowledge of MIB code meanings and procedures. May resolve MIB disputes and corrections or requests for additional information and follow up.
- Provide support for contract change and reinstatement underwriting that may be required.
- Follows all department policies, procedures and processes to maintain or improve quality standards that ensure proper mortality experience.
- Establishes a collaborative relationship with agents/field management, applicants, vendors, other business units, and managers to ensure sales goals are maximized.
- Communicates by letter, telephone or personal contact with sales agents, applicants and professional personnel to obtain additional data.
- Refers cases outside prescribed approval authority to more senior underwriters or managers for review as needed.
- Meets established productivity and quality expectations for the position.
- Demonstrates commitment to career development by actively participating in AAA sponsored training opportunities and independent industry programs to ensure industry knowledge is current and maintained.
- With assistance, prepares presentations for underwriters or sales agents that assist with training and development.
Required Skills
- Achieves stretch results. Strong bias for action with sense of urgency and high energy. Practices collaborative working environment to achieve more.
- Has ability to look from customer’s view. Viewed as business partner by external and internal customers. Anticipates customer needs to ensure no barriers to doing business.
- Candid, clear and concise in communication. Effectively matches style, tone and method to audience. Connects with intended audience. Manages communication and feedback within the organization.
- Works collaboratively to achieve organization’s success.
- Strives to stay ahead of technical/professional expertise, is proactive and inspires others to stay current in areas of technical expertise.
Required Experience
- Bachelor's Degree or medical certification or equivalent work experience preferred
- LOMA I, LOMA II, and LOMA 301 required. ALU 101 & ALU 201 preferred.
- Minimum of 3 years’ experience in financial services and/or medical industry
- Experience in life insurance underwriting may include: new business processing, policy change and reinstatement processing, life insurance sales or other appropriate experience
- Prior approval authority/ life risk assessment to $1,000,000 Table 5 preferred
- Understands insurance contracts and forms
- Knowledge and understanding of medical conditions, impairments and the financial and legal aspects of risk selection and other factors pertaining to acceptability and assessment of Life insurance applications
- Understands Reinsurance process
- Understands MIB (Medical Information Bureau) rules and procedures
- Familiar with Life agents’ manual, rules and procedures
- Demonstrated basic math skills to include calculating percentages
- Previous experience using Microsoft Word and internet applications
PM21