Group Insurance is an operating unit within the U.S. Businesses Division that primarily focuses on creating, distributing, and administering a complex range of life and disability insurance products for many top Fortune 500 companies. Prudential has been underwriting group insurance plans since 1916. Today, our Group Insurance business unit is the nation’s second largest group life carrier and a leading disability carrier, proudly servicing nearly 20,000 clients—and insuring more than 20 million employees and their families. Group Insurance has operation centers across the United States.
The Lead Underwriting Specialist is accountable for underwriting Group Life, Disability, Voluntary or Special Risk proposals, renewals and on-going case activity in accordance with statutory regulations and existing underwriting policies and practices, assessing risk and making and communicating decisions in a manner which contributes to the profitability of the product and reputation of the company.
Main Job Responsibilities/Competencies:
- National Account Segment = able to handle medium volume of high complexity cases with little to no support
- Assesses, calculates and specifies the conditions under which Prudential is willing to accept risk on group life and disability business for prospective and in-force customers. This includes, but is not limited to, the review and analysis of risk criteria, demographic data, financial data, rating formulas, case specific experience, product filings and statutory requirements.
- Independently applies Underwriting judgment, formulates pricing decisions, negotiates within their authority limit, and handles standard to complex reporting requests. Understands and applies current pricing strategy across the book of business.
- Confidently and effectively communicates point of view through both verbal and written communications and negotiates with internal/external partners in various roles, including renewal /proposal positioning. · Influences others through their behavior.
- Actively engages in supporting the positive consultative outcomes crucial to our long-term success, identifying opportunities to provide consultative creative solutions and making recommendations.
- Creates accurate offers, standard experience reports and/or evaluations, projections for assigned accounts and may create detailed and customized reporting to support cases. May provide case specific information for multi-year planning efforts and makes projections based on emerging account experience and trends.
- Maintains updated records and case files in accordance with underwriting and records policies & procedures.
- Demonstrates an awareness of regional trends, competitive landscape and factors that influence the marketplace and regulatory environment · Actively supports the Leadership initiatives, offering continuous guidance and proactively sharing expertise with others, and serving as a resource for less experienced underwriters
- Demonstrates a strong ability to help others gain an understanding of the underwriting process, including case reviews, identifying training needs and developing and delivering training.
- Supports hiring strategies through the interview and onboarding processes to drive understanding throughout team.
- Acts as a subject matter expert for medium/high complexity topics
- Actively participates in or leads projects which may be broader/cross-functional, demonstrates an understanding of both the upstream and downstream impacts of changes within and outside of Underwriting.
- Directly supports management in the analysis and interpretation of portfolio profitability metrics and serves as a conduit
- Group Life and/or Disability underwriting experience, preferably 7+ years
- Bachelor’s degree or equivalent work experience
- Ability to work independently
- Strong time management and organizational skills
- Ability to prioritize work with limited oversight
- Results and profit oriented
- Strong Analytical and mathematical skills.
- Proficient with Microsoft Office and email software
- Excellent Excel skills Working knowledge of applicable underwriting tools (internal)
- Excellent communication and collaboration skills
- Ability to develop strong working relationships Understands and adheres to policies and procedures
- Exhibits behaviors aligned with leadership competencies
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at firstname.lastname@example.org for more information about doing business with Prudential.
Job Function Underwriting
Primary Location United States-New Jersey-Roseland
Other Locations United States-Connecticut-Hartford, United States-Arizona-Scottsdale, United States-Pennsylvania-Dresher, United States-Maine-Portland