If you’re looking to use strong analytical and math skills in a competitive, fast-paced environment, an Underwriting Career in Group Benefit Solutions will allow you to do all this and more!
Underwriters evaluate the risk of insuring a potential Group Benefit Solutions customer and use that information to set premium rates for insurance policies. As part of our Underwriting team, you will directly impact our business on a daily basis, protecting our organization‘s sound financial position which enables us to meet our financial commitments to our customers.
New York Life, America’s largest mutual life insurer, and Cigna, a leading global health service company, have closed on acquiring Cigna’s group life and disability insurance business.
Now known as Group Benefit Solutions, the group life and disability insurance business operates within New York Life’s portfolio of strategic businesses, which are industry leaders, highly profitable, and fully support New York Life’s core retail life insurance business. These businesses reinforce New York Life’s overall financial strength by generating capital that can contribute to its surplus, dividends, and earnings, which directly benefits the company’s policy owners.
What you’ll do
Our early career program includes a mixture of instructor-led classroom training, self-study, and on-the-job experiences over the course of approximately 9 months. The program offers structured technical and non-technical training, networking opportunities, formal mentoring, and exposure to a breadth of underwriting experiences across multiple products and segment sizes. The training program provides a thorough education on Group Benefit Solutions products and services, insurance basics and risk dynamics, underwriting and risk selection, results oriented book of business management, negotiation skills, systems and tools, and contract language and terms. The knowledge and skills that the program provides will set you up to be a successful Underwriter.
Upon completion of the training program, you will be responsible for determining the appropriate premium rate level and plan design structure of individual cases, analyzing total case profitability, and conducting customer negotiations with Sales and Account Management on their book of business.
What you need to do the job:
Available to start June 2021
Bachelor’s degree in the following major and/or minors are preferred, but not required: Risk Management, Economics, Finance, Accounting, Management, Mathematics, Business
0-3 years of work experience
Strong academic record – cumulative GPA of 3.0 or higher preferred
Strong analytical and problem solving skills
High comfort level with math/numbers
Excellent verbal and written communication skills
Passion and dedication to become a leader in the health service industry
Strong business acumen along with leadership, innovative thinking, and customer-centricity
Locations: Philadelphia, PA; and Kansas City, KS
Apply on Nittany Lion Careers! Search job#: 88360