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Pricing and Underwriting Analyst

Honolulu, HI 96813 | Direct Hire

Post Date: 04/04/2018 Job ID: 16397 Job Category: Admin/Clerical, Finance

Bishop & Co. is seeking qualified candidates for its client based in Honolulu.

 

PRICING AND UNDERWRITING ANALYST #16397

 

 

POSITION SUMMARY

 

The Pricing and Underwriting Analyst   establishes premium rates for existing and new employer groups, and/or individuals, to achieve company revenue, margin, and membership targets.  Works strategically with the Sales Department on proposals to offer competitive pricing and alternatives that align to employer goals and conditions of  offering. Identifies and analyzes internal and external factors  that  may  affect  the organization’ s revenue,  margin,  and  membership including the review of historical data and economic projections to predict underwriting profitability at the group, business  line,  funding  arrangement,  and  overall  levels.    Prepares annual underwriting forecast  and  reports  on revenue, margin, membership, and utilization trends and projections for management to utilize in decision making. Provides analytical support for company initiatives, reporting, and research.

 

 

ESSENTIAL DUTIES & JOB RESPONSIBILITIES

 
  • Produces   accurate   and   timely   premium   rates   that   adhere   to   existing   underwriting   policies   and guidelines:
    • Calculates rates for small and large employer groups for both existing and prospective business.
    • Partners with Sales to provide appropriate information that will increase the success of renewing existing   groups   and   enrolling   new   groups.   As   needed,   support   Sales   on   customer   and broker/consultant strategy, meetings, calls, and other communications.
    • Creates customer and book of business reports.
    • Conducts peer review on rate proposals and other company-wide analyses.
    • Calculates and recommends rates for individual plans.
    • Assists with regulatory filings.

 
  • Compiles annual underwriting forecast:
    • Monitors utilization and enrollment for groups, giving special attention to those with custom arrangements, to determine if there are any trends or unusual variances to inform management about and to track and address in future forecasts.
    • Monitors and evaluates economic trends and forecasts and their potential impact on company revenue, margin, and/or membership.
    • Prepares the annual underwriting forecast.  Collaborates with other departments such as Sales and Accounting to evaluate forecast assumptions and operational changes (e.g., provider fee schedule changes, claims processing guidelines, etc.) as they may potentially affect projections. Incorporates changes into forecast model to project impact.
    • Reviews  and  analyzes   actual  to   budget  data  and  discusses   variances  with  department management, Accounting, Sales, and other leadership.
    • Maintains   forecast   model   including   appropriate   documentation.       Continuously   improves forecasting techniques to improve accuracy of projections and documents changes.
    • Supports filing reports

 
  • Supports overall plan benefit strategies, pricing strategies, and other initiatives of the organization:
    • Calculates group-specific and book of business incurred but not received claims analysis.
    • Compares    results   with    other    established    industry    methods (e.g.,    lag    ratio)  and    makes recommendations to improve the estimated calculations.
    • Provides analytics in support of proposed provider fee schedule changes and claims processing guideline changes and works with other departments to implement approved changes.
    • Assists in the analysis of existing benefits and limitations, new products, and markets in order to propose recommendations to better manage utilization and grow business.   Determines impact of these recommendations to individual groups.
    • Conducts ad hoc analyses to support company research, reporting, and initiatives.

 
  • Researches and validates data warehouse and develops internal and external reports:
    • Recommends   and   evaluates   modifications   such   as   the   addition,   removal   or   change   in   data captured in the data warehouse.   Assesses if changes are needed in queries and modifies as necessary so that reports are accurate.
    • Takes the lead to implement and test data warehouse changes.
    • Develops extracts and/or queries for other departments to provide them with the ability to improve analysis, operational efficiencies, and reporting capabilities.
    • Generates additional reports as required by management.

 
  • Analyzes    effectiveness    of    work    processes    and    proposes recommendations    for    continuous improvement and consistency across the team.
    • Assesses current and researches and evaluates new rating and underwriting methodologies. Determines   impact   of   changes   across   the   company' s   finances   and   operations   and   makes recommendations for improvement.

 

OTHER DUTIES & JOB RESPONSIBILITIES

 
  • Assists with the design, writing, maintenance and production of departmental manuals, including but not limited to standard operating procedures, process flow charts, and user manuals.
  • Assists the department leader with special projects.

 

POSITION QUALIFICATIONS

 

        Experience and Skills

 
  • Four   years   of   progressive   experience   in   rating, underwriting, actuarial or related field with background in group rating processes for health or dental insurance, or the equivalent in an analytical role that included conducting detailed analysis using databases.    Working  knowledge  of  Microsoft  Excel and   Word.     
  • Must have  strong  math skills,  SQL experience and statistical analysis.

 

        Education and Training

 
  • Bachelor’ s  degree   in   mathematics,    economics, statistics, finance, business administration or equivalent in education, experience or training.

 

            Additional Skills

 
  • Working knowledge of  Microsoft Word and Excel.    Preferred experience in writing queries using Oracle SQL or other programming language. Preferred knowledge in the use of Microsoft PowerPoint and Crystal Reports.
  • Ability to organize, analyze and solve complex problems.
  • Ability to handle and prioritize multiple tasks with some distractions.
  • Ability to focus on details.
  • Ability to communicate both orally and in writing with all levels of staff, customers, consultants/brokers, and vendors on sensitive matters.
  • Technical knowledge to learn and understand computer applications for problem-solving and answering staff questions (prefer Windows, Word, Excel, and PowerPoint)


Bishop & Company provides recruiting and placement services for client companies and job seekers for opportunities throughout Hawaii, with emphasis on executive search, direct hire, temp to hire, and temporary/contract staffing. We charge no fees to our placed candidates and our temporary/contract employees. Our client services are 100% guaranteed.

Please forward resumes to:

Bishop & Company

(or Email: jobs@bishopco.net

Phone: 808-839-2200

Fax: 808-839-4844

Website: http://www.bishopco.net/

 

EEO/AA/DISABLED/VETS

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