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 Group Underwriting Associate is accountable for underwriting Group Insurance Critical Illness, Accident and Hospital Indemnity 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. This is an entry level position within Underwriting.
Main Job Responsibilities/Competencies:
- Actively participates in a training program for new Underwriting hires. The candidate will learn the core basics of underwriting terminology, pricing methodology and rating tools/applications and will be expected to pass knowledge tests.
- Assesses, calculates and specifies the conditions under which Prudential is willing to accept risk 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.
- Voluntary segment: Quoting Critical Illness, Accident and Hospital Indemnity Plan cases with minimal support.
- Increasingly demonstrates the ability to apply the skills learned in class to live cases.
- Works closely with a mentor, and under a high degree of supervision, will begin to apply Underwriting judgment, formulate pricing decisions, and handles standard reporting requests.
- Will begin to communicate with internal partners.
- Has limited authority to release cases independently.
- Maintains updated records and case files in accordance with underwriting and records policies & procedures.
- Bachelor’s degree or equivalent work experience
- Ability to work independently
- Strong time management and organizational skills
- Ability to prioritize work
- Strong Analytical and mathematical skills.
- Proficient with Microsoft Office and email software
- Excellent Excel skills
- Good communication and collaboration skills
- Ability to develop strong working relationships
- Understands and adheres to policies and procedures
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-Arizona-Scottsdale, United States-Pennsylvania-Dresher, United States-Maine-Portland, United States-Connecticut-Hartford