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Captive Senior Benefits Underwriter

Ryan Specialty Group

Chicago, Illinois

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JOB DETAILS
SKILLS
Actuarial Skills, Analysis Skills, Best Practices, Brokerage, Claims Management, Communication Skills, Compensation and Benefits, Corrective Action, Customer Support/Service, Data Analysis, Detail Oriented, Economics, Employee Benefits, Finance, Health Insurance, Health Plan, Industry/Trade Analysis, Insurance, Insurance Underwriting, Interpersonal Skills, Leadership, Legal, Long-Term Profit, Maintain Compliance, Market Segmentation, Medical Records, Mentoring, Performance Analysis, Policy Development, Pricing, Problem Solving Skills, Regulations, Regulatory Compliance, Risk, Risk Analysis, Sales, Strategic Planning, Target Marketing, Team Building, Time Management, Training/Teaching, Underwriting
LOCATION
Chicago, Illinois
POSTED
2 days ago
Position Summary
The Captive Senior Underwriter is responsible for the underwriting of Health coverage for new business, renewals, and endorsements. This role collaborates closely with Specialty Sales, the Captive Manager, Claims and Operations, Finance, Legal, Risk, and Compliance to ensure strategic initiatives are met that contribute to the long-term profitability of Ryan Specialty Benefits.

What will your job entail?

Key Responsibilities:
  • Execute underwriting for Health coverage, focusing on renewals and new business, utilizing both manual rating and experience rating techniques.
  • Analyze, select, and evaluate risks, articulating underwriting analyses and suggesting corrective actions to the sales team and broker contacts.
  • Deliver timely and accurate quotes/binders by determining and calculating premiums based on assessed risks and requested coverage.

  • Evaluate risk associated with insuring applicants using pertinent underwriting software and established guidelines.

  • Meet new business premium targets, premium retention goals, and loss ratio expectations for designated territory.

  • Provide servicing for assigned accounts and brokers in coordination with the Underwriting and Sales teams within the territory.

  • Prepare and review case referrals for approval where applicable.

  • Analyze applicant information by reviewing medical histories, financial data, and other pertinent information.
  • Work collaboratively with internal stakeholders across various functional areas, including Claims, Actuarial, Operations, Finance, Legal, and Compliance.
  • Ensure compliance with all internal and external standards, actively participating in implementing new compliance protocols.

  • Support the overall revenue goals at Ryan Specialty through collaboration with Distribution, focusing on achieving new business and retention targets.

  • Engage in professional development to remain current with industry trends, regulations, and best practices.

  • Participate in a quarterly self-audit process to ensure compliance and implement necessary actions based on audit findings.

  • Provide training and support to ensure adherence to underwriting authority and sales practices.

  • Strategize with territory team members to identify target market segments and to strengthen broker distribution relationships.

Qualifications:
  • Bachelor's degree in Business, Finance, Economics, or related field.
  • Minimum of 8 years of Health Insurance Underwriting experience or 3 years with a Master's degree.
  • A minimum of 3 years of experience working with captive insurance models.
  • Proven experience in underwriting complex employee benefits accounts.
  • Strong knowledge of underwriting principles, risk assessment, pricing methodologies, and regulatory compliance.
  • Demonstrated leadership and mentoring skills.
  • Excellent analytical, communication, and interpersonal skills.
  • Proficiency with underwriting software and data analysis tools.

Technical/Functional Skills:
  • Advanced underwriting and risk assessment expertise.
  • Policy development and compliance management.
  • Pricing and quoting accuracy.
  • Data analysis and reporting.

Behavioral Skills:
  • Strategic decision-making.
  • Leadership and team development.
  • Effective communication and collaboration.
  • Attention to detail and problem-solving.
  • Adaptability and continuous learning.

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them - and their family members - achieve the

About the Company

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Ryan Specialty Group

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