Captive Resources, LLC · 23 hours ago
Underwriter
Itasca, Illinois, United States
Full-time
Onsite
Entry, Mid Level
2+ years expCaptive Resources, LLC is a company specializing in health solutions, and they are seeking an Underwriter to evaluate and underwrite stop-loss insurance. The role involves analyzing medical risks, pricing policies, and making informed recommendations based on medical costs and insurance principles.
Insurance
Responsibilities
Evaluate submissions for medical stop-loss insurance of assigned captive program(s), assessing the risk posed by each potential policyholder
Analyze medical claims data and historical health costs to determine appropriate stop-loss coverage levels, including individual and aggregate limits
Review group health plans, claims experience, and member demographics to assess the potential for high-cost claims
Develop premium pricing for stop-loss insurance policies based on risk analysis and underwriting guidelines within delegate authority
Establish appropriate retention levels, deductible amounts, and policy terms based on the group’s needs and risk factors
Analyze claims data to assess trends, predict future claims, and identify risk patterns
Use various tools, including statistical analysis and software systems, to track claims history and predict future healthcare costs
Collaborate with clinical risk management team to assess potential for ongoing claims liability
Engage with internal and external stakeholders to explain policy terms, underwriting decisions, and negotiate terms when necessary
Support the sales team by providing underwriting insights and assisting with the proposal process for new business
Ensure all underwriting activities comply with regulatory requirements, industry standards, and company guidelines
Maintain accurate records of underwriting decisions, policies, claims history, and communication with clients
Qualification
Required
A bachelor's degree in business, finance, insurance, mathematics, or a related field
2 -5 years of experience in insurance underwriting, preferably in the health insurance or medical stop-loss field
Experience with medical claims analysis, pricing, and risk management is essential
Stay updated on industry trends, regulatory changes, and best practices in medical stop-loss underwriting
Risk management principles and stop-loss insurance products
Medical terminology, healthcare costs, and trends in medical claims
Regulatory and compliance issues in insurance underwriting
Strong analytical and problem-solving abilities
Proficiency in underwriting software (Connexure ESL Office)
Excellent written and verbal communication skills for client interaction and report creation
Company
Captive Resources, LLC
For four decades, Captive Resources has provided mid-market companies the ability to become insurance company owners rather than insurance buyers and to lower their total cost of risk.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
unknown2012-01-01Private Equity
Leadership Team
Nick J. Hentges
Chief Executive Officer
Recent News
2024-05-21
Company data provided by crunchbase