Job Description

Benefits Underwriter / Risk Analyst

Job Summary

Seeking a highly analytical and detail-oriented Benefits Underwriter / Risk Analyst to join a team. In this role, you will analyze healthcare costs, evaluate insurance plan performance, and provide strategic financial recommendations to help clients make informed decisions about their employee benefits. You will collaborate with consultants, account managers, and insurance carriers to review data, negotiate rates, and support overall client strategies. This position is ideal for someone with a strong background in employee benefits and a passion for data analytics, claims evaluation, and cost modeling.

Compensation Package

• Salary: Up to $85,000 annually (based on experience and qualifications)
• Benefits: Comprehensive medical, dental, and vision coverage
• Work Schedule: Hybrid model (3 days in-office, 2 days remote) - Newtown Square, PA

Responsibilities

1. Underwriting & Financial Analysis

• Evaluate historical claims data, demographics, and plan performance to develop funding recommendations and pricing models for fully insured and self-funded plans.
• Review and negotiate carrier renewals to secure optimal options for clients.
• Analyze benefit costs, develop contribution models, and create rate structures for medical, dental, vision, life, disability, and voluntary benefits.
• Maintain strong relationships with insurance carriers and stay updated on industry trends, underwriting practices, and regulatory changes.

2. Reporting & Deliverables

• Develop and deliver clear, data-driven financial exhibits and executive-ready presentations.
• Produce recurring monthly claims reports and design tailored models and reporting solutions based on client needs.
• Ensure timely and accurate delivery of reports, presentations, renewals, and custom modeling tools.

3. Data & Analytics

• Analyze large healthcare datasets (e.g., medical and pharmacy claims) to identify trends, forecast risks, and guide client strategies.
• Collaborate with internal teams to develop dashboards, benchmarking tools, and risk assessments to support client decision-making.

4. Client & Team Collaboration

• Work closely with Benefits Consultants, Account Executives, and Account Managers to align underwriting analysis with client goals.
• Attend client meetings and support renewal or marketing presentations to explain underwriting outcomes and strategies.
• Collaborate with other members of the Analytics department to enhance team performance.

Qualifications/Requirements

Required:

• 3-5+ years of experience in underwriting for health and welfare benefits, preferably in a consulting, brokerage, or insurance environment.
• In-depth knowledge of employee benefits product lines, including medical, dental, vision, life, disability, and voluntary plans.
• Experience with self-funded and fully insured plans, as well as alternative funding methodologies.
• Bachelor’s degree in Risk Management, Health Informatics, or a related field.
• Advanced proficiency in Microsoft Excel (complex formulas, modeling, and data visualization).
• Proficiency in Microsoft PowerPoint, Word, and other Office applications.
• Strong analytical and problem-solving skills with attention to detail.
• Ability to manage multiple projects and meet deadlines with strong organizational skills.
• Excellent written and verbal communication skills, including business writing and presentation delivery.
• Collaborative team mindset with the ability to work independently in a fast-paced, client-focused environment.
• Ability to build relationships and influence stakeholders, including carriers and client teams.

Preferred:

• Active Life and Health insurance license.

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