Note: The job is a remote job and is open to candidates in USA. USI Insurance Services is an insurance brokerage and consulting firm providing risk management and employee benefit solutions. The Employee Benefit Analyst III analyzes financial and claims data for fully insured and self-funded benefit programs, develops plan and cost-reduction strategies, manages carrier negotiations, and prepares client-facing analyses and renewal materials.
Responsibilities
- Responsible for financial analytics for clients that are fully insured and self-funded. Typical client size is 100 to 1,000 lives
- Prepare standard analyses with occasional customization. Analyses may include: + Market review analysis + Renewal rate and funding projections and modeling + Analysis of claims utilization + Rate and Contribution analysis + Claims experience reports + Benchmarking + Financial funding analysis + IBNR and lag analyses
- Develop alternative strategies, plan modeling, and cost reduction opportunities
- Perform technical analysis of group insurance contracts and financial arrangements
- Serve as primary contact with insurance carriers. Negotiate and market coverage for new business quotes and renewals. Includes requesting quotes, evaluating options, negotiating rates and benefit features, and preparing renewal/new plan options with executive summary.Develop and maintain excellent carrier relationships
- Review and validate carrier renewal rating illustration
- Analyze experience and claims utilization data for financial and plan usage conclusions. Includes identifying trends and relationship of experience to renewal rating. With guidance suggest action items
- Write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. With guidance articulate USI strategic objectives
- Prepare carrier and client written correspondence. Includes carrier renewal confirmation letters and client renewal letters
- Occasionally conduct analysis using USI internal and third-party external tools. Includes USI 3D, USI Clear Options Rx, and actuarial tools
- Participate in peer review process as a participant and a reviewer
- Occasionally participate in new Analyst onboarding training
- Keep current on industry and new product information, legislation, technology, and trends
Skills
- 3 years + of experience in employee benefits or related field
- High School Graduate
- Must hold or be willing to obtain a state Life & Disability insurance license
- Ability to work in a fast-paced, team environment with minimal instruction
- Ability to manage and negotiate multiple priorities and deadlines
- Strong written, verbal, and interpersonal communication skills
- Working knowledge of Microsoft Office products, including Excel and Word
- Ability to become proficient in internal analytic systems and carrier online reporting tools
- Strong problem solving and critical thinking skills
- Ability to carry out complex tasks with many concrete and abstract variables
- College degree preferred
Benefits
- Employee reward and recognition programs
- Summit Awards program rewarding excellence
- Employee wellness program
- College scholarships for associates' children
- Financial help in times of need
- Curated diversity and inclusion education and training resources
- Employee support programs
- Medical benefits
- Wellness benefits
- Dental benefits
- Vision benefits
- 401(k)
- Flexible spending accounts
- Health savings accounts
- Short- and long-term disability benefits
- Life insurance
- Other employer-sponsored and voluntary programs
- Generous paid time off policy
- Paid family leave benefit
- Paid holiday time
Company Overview