Note: The job is a remote job and is open to candidates in USA. Banner Life Insurance Company is a life insurance provider focused on delivering solutions and support for its customers, clients, and communities. The Underwriting Consultant evaluates and classifies life insurance risks, makes underwriting decisions within authority, supports broker partners, and mentors less experienced underwriters. The role also contributes to process improvements, reinsurance coordination, and departmental initiatives.
Responsibilities
- The Underwriting Consultant will select risks profitable to the Company while promoting a competitive offer for the agent and equitable results for the applicant. Review, analyze and classify new business, change and reinstatement applications, trial applications and inquiries in a timely and accurate manner. Leverage experience to assist in the development of less experienced underwriters. Be a trusted member of team for broker/partners. Be viewed as a leader and "Go To" person by teammates. Act as a referral underwriter for less experienced underwriters
- Review life insurance applications within the limits of authority, including all underwriting requirements and other evidence of insurability to determine acceptability and to detect and deter attempts to defraud the company
- Order only additional requirements which are appropriate and necessary for the assessment of the risk
- Make appropriate decisions on cases within approval authority. Through the referral process, recommend specific course or action or final decision on applications which are outside approval authority or where the complexity exceeds the individual experience level
- Maintain favorable relationships with the field. Communicate with broker/partners the company position/decision on cases in a positive empathetic manner so as to foster confidence in the decision and encourage future business from the distribution system. Provide counsel and advice to agency offices regarding submission and placement of business
- Identify process changes to improve customer experience
- As required, communicate with reinsurers on cases
- Approve Applications for policy issue up to $5,000,000 for all ages and ratings
- Consistently meet or exceed productivity and quality guidelines established by the department or team
- Assist the immediate manager with any special departmental projects at her/his direction
- Provide members of management with information and possible solutions regarding issues which affect the team, its agencies, or the department as a whole
- Make suggestions regarding increasing the approval authority or additional training of underwriters who refer cases
Skills
- BS/BA degree or applicable experience
- Minimum 8 years of underwriting experience, including large case underwriting and substandard cases
- PC knowledge to include Word, Excel, and PowerPoint
- Knowledge of medical terminology and business financial documents
- Production & quality oriented
- Ability to make real-time independent decisions regarding life insurance applications
- Effectively utilize available resources
- Document cases and thought process
- Review more complex personal and financial cases
- Coach & mentor less experienced underwriters in the department, including second signature responsibilities
- Demonstrate understanding of the reinsurance process
- Proficient in financial underwriting, including underwriting business cases
- Agile & process improvement mindset
- Innovative & data driven
- Proficient in understanding the reinsurance process, including when cases need to be submitted and how to do so
- Able to demonstrate advanced technical underwriting knowledge and skills, including medical terminology
- Demonstrate superior written and verbal communication skills
- This is a remote opportunity, operating on EST
- FLMI, FALU or CLU designation preferred
- Candidates local to the Frederick, Maryland area preferred
Benefits
- This is a remote opportunity, operating on EST.
- The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.
- This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.
- This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis.
- Employees also have 9 paid holidays throughout the calendar year.
- Employee benefits include health, life, and dental insurance.
- 401K with company match up to 6% as well as a pension package.
- Generous time off.
- Wellbeing initiatives throughout the year.
- We’re big on professional development and we’ll support and mentor you in your career progression.
- Enjoy time off to volunteer for those causes that matter most to you!
Company Overview