Penn Mutual · 5 hours ago
Underwriter: Multilife Underwriting
Remote - United States
Full-time
Remote
Mid Level
$70K/yr - $100K/yr
3+ years exp
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Responsibilities
Adhere to current Penn Mutual underwriting risk management practices and established guidelines, internally and as established through reinsurance partners.
Follow Standard Operating Procedures (SOPs) for Multilife underwriting
Support Director of Multilife Underwriting, strengthen skills as Subject Matter Expert (SME) in Multilife underwriting, financial underwriting, understanding regulations, rules and nuances related to:
O Corporate Owned Life Insurance (COLI)
O Corporate Sponsored Individually Owned Life Insurance (CSIO, includes Split Dollar, 162 Bonus).
Serve as a collaborative partner within Operations and Distribution in support and review of Multilife opportunities.
Up to approval authority: determines whether to accept, modify, or decline a case (risk) or present for business exception
Submits evaluation and recommendation to Director Multilife Underwriting on exception requests when outside of established parameters or approval authority
Create Underwriting Offers (also known as Concession letters), memorializing Penn Mutual’s review of case design, census and other parameters for all parties
Helps to maintain profitable mortality experience and retention
Communicates and collaborates within Multilife Operations and with internal distribution
Maintains positive and effective relationships with internal and external
Qualification
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Required
Experience with Simplified Issue (SI) and Guaranteed Issue (GI) underwriting.
Ability to uphold product utilization guidelines with respect to amounts of purchase, funding sources and overall appropriateness of design.
Adhere to current Penn Mutual underwriting risk management practices and established guidelines, internally and as established through reinsurance partners.
Follow Standard Operating Procedures (SOPs) for Multilife underwriting.
Support Director of Multilife Underwriting, strengthen skills as Subject Matter Expert (SME) in Multilife underwriting, financial underwriting, understanding regulations, rules and nuances related to Corporate Owned Life Insurance (COLI) and Corporate Sponsored Individually Owned Life Insurance (CSIO, includes Split Dollar, 162 Bonus).
Serve as a collaborative partner within Operations and Distribution in support and review of Multilife opportunities.
Up to approval authority: determines whether to accept, modify, or decline a case (risk) or present for business exception.
Submits evaluation and recommendation to Director Multilife Underwriting on exception requests when outside of established parameters or approval authority.
Create Underwriting Offers (also known as Concession letters), memorializing Penn Mutual’s review of case design, census and other parameters for all parties.
Helps to maintain profitable mortality experience and retention.
Communicates and collaborates within Multilife Operations and with internal distribution.
Maintains positive and effective relationships with internal and external parties.
Working knowledge of Multilife (Executive Benefits), specifically SI and GI.
Awareness of Multilife plan designs and product uses.
Desire to learn and increase knowledge and skill set.
General awareness of current affairs, industry issues and trends, both corporate and external.
Basic understanding of reinsurance, financial and non-financial underwriting factors.
Strong organizational, communication and interpersonal skills.
Ability to identify, research and resolve problems.
Excellent knowledge of mainframe and PC environment.
Ability to create and maintain customer relationships.
Ability to prioritize and work effectively under deadlines balancing published service times with an appropriate customer focus.
Ability to comprehend, retain and apply current technical information to daily work issues.
Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement.
Ability to work with others in a collaborative team environment.
3-5 Years life underwriting experience in Executive Benefits, Multilife or Group Life Insurance.
Experience working in life insurance, examples such as sales, case design, new business or service.
Demonstrated familiarity with basic regulatory requirements in Multilife/Executive Benefits.
Experience with Financial Underwriting.
FLMI, ALU, FALU and ACS designations or current coursework towards earning certificates.
Preferred
College degree preferred although equivalent work experience in life Underwriting may be considered.
Company
Penn Mutual
Penn Mutual helps individuals and families do more in life by creating solutions that deliver the complete value of life insurance.
1,001-5,000 employees
Funding
Current Stage
Late StageLeadership Team
Eileen McDonnell
Chairman & Chief Executive Officer
David O'Malley
President and Chief Operating Officer
Recent News
2024-05-08
MarketWatch
2024-04-07
Company data provided by crunchbase
