Group Senior Underwriter
- Career Level
- Not Specified
Allstate Benefits is one of America's leading voluntary benefit providers. Founded in 1956 as American Heritage Life and acquired by The Allstate Corporation in 1999, we have the strength of a nationally recognized and trusted brand behind our comprehensive and competitive product portfolio. Our Critical Illness, Accident, Cancer and Universal Life products are ranked #1 in the industry, plus we also offer disability income, hospital indemnity, vision and dental insurance. More than 31,000 companies across the U.S. choose to put our products to work for them, protecting their most valuable asset – their employees.
The Group Underwriting department is responsible for providing effective risk management in support of our corporate goals for product sales, revenue and profitability with adherence to corporate risk tolerance and financial arrangements. This includes applying account level underwriting (Industry, persistency, loss experience, and regulatory compliance) and working with field partners in responding to opportunities to overcome obstacles to writing and retaining appropriate business.
Conduct risk assessment for Group Term Life and AD&D account level underwriting offers. Ensure decisions provided fall within the company's established guidelines and current risk tolerance. Manage risk through analysis of past experience and projecting future benefits. Train other underwriters and provide assistance to sales and marketing teams in shaping offers. Help in the design of account audits and provide review of agent and consumer product materials.
- Group Term Life and AD&D initial and renewal underwriting for Employer groups with 1,000 to 10,000 employees whose annualized premium is less than $500,000.
- Assess risk and recommend pricing and benefit action for Group Term Life and AD&D coverage for accounts with in excess of 10,000 employees or $500,000 of annualized premium.
- Consult with other underwriters and actuaries regarding product pricing and benefit configuration in the under 1,000 employee group market.
- Ensure risk assumption is in compliance with internal restraints and reinsurance requirements. Seek and obtain reinsurer agreement for facultative arrangements.
- Evaluate requests for grandfathering or other nonstandard assumption of risk.
- Maintain positive consultative relationships with our internal and external customers, including field personnel, marketing support, agents, and benefit consultants through effective written and verbal communication skills.
- Complete risk evaluation, pricing, and renewal decisions in a quality, timely, and productive manner.
- Complete Group Term and other Life products projects as assigned.
- Design audits and other measures to ensure account operations validate protocols and assumptions incorporated in pricing.
- 10+ years of experience in Group Life and Health underwriting which includes five years of financial underwriting of Group Term Life products.
- Advanced understanding of underwriting principles and the current group term life market
- Superior math and analytical skills.
- Excellent verbal and written communication skills.
- Ability to establish priorities and manage multiple projects simultaneously.
- Bachelor's Degree with business, financial or math focus.
- Insurance Industry certifications.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
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