Underwriter - New Business

Position Overview:

Pareto Health is seeking a dedicated and detail-oriented Underwriter to join our team. This role is crucial in assessing and managing the risks associated with self-funded and fully insured health plans, using stoploss insurance. The ideal candidate will bring a foundational understanding of analyzing health risks and developing stoploss strategies that align with our commitment to providing innovative and cost-effective healthcare solutions to our clients.

Key Responsibilities:

• Support the underwriting process using a best-in-class captive offering to create profitable stoploss offerings for prospective captive members.
• Conduct preliminary risk assessments of prospective Pareto captive members, who are currently both fully insured and self-funded health plans, to assist in determining appropriate stoploss coverage levels and premiums.
• Assist in analyzing healthcare data, including claims and utilization patterns, to forecast potential risks and cost implications.
• Collaborate with the Sales team to provide consultants with the necessary financial information required to join the captive.
• Adapt to working in an environment of incomplete information.
• Stay informed about competitive market dynamics and respond appropriately.
• Work under the guidance of senior underwriters to enhance underwriting skills and knowledge.
• Participate in ongoing training to develop a deeper understanding of medical treatments and projected costs in partnership with the clinical risk team.
• Ensure adherence to industry standards and legal requirements in all underwriting decisions and practices.

Required Skills & Qualifications:

• Bachelor’s degree in finance, economics, actuarial science, or a related field; relevant professional certifications are a plus.
• Minimum of 2-3 years of experience in underwriting, preferably with some exposure to stoploss insurance and health risks. Experience with captives is a plus but not required.
• Basic proficiency in underwriting software, data analysis tools, and Microsoft Office Suite.
• Ability to analyze data, identify trends, and support underwriting decisions.
• Good communication and negotiation skills, with the ability to articulate technical concepts to a non-technical audience.
• Team player, capable of working collaboratively in a fast-paced environment.