Commercial Health Actuary
Job Description:
- Evaluate and analyze health insurance applications to determine the risk they pose, helping to set premium rates that are both fair and competitive.
- Interpret and analyze underlying claims experience to inform underwriting decisions and policy adjustments.
- Work closely with sales teams to develop competitive insurance products and strategies, ensuring alignment with company goals and client needs.
- Assist in the development of insurance policies or suggest changes to existing policies that balance the needs of market with the risk to the insurance company.
- Stay updated with changes in legislation and regulations that may affect the product design and underwriting considerations.
- Maintain accurate and detailed records of policies underwritten and decisions made, tracking concessions and experience.
- Coordinate with brokers and agents to gather additional information or to explain underwriting decisions.
Requirements:
- Education: Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
- Credentials: Professional actuarial credentials (e.g., ASA, FSA) are required.
- Experience: Minimum of 5 years of experience in commercial health insurance underwriting (not Medicare, Medicaid, or individual market/ACA plans).
- Experience working with sales teams in competitive situations is highly desirable.
- Strong analytical and decision-making skills
- Excellent communication and interpersonal skills
- Proficiency in statistical analysis and risk assessment
- Ability to interpret complex data and make informed decisions
- Familiarity with underwriting software and tools
- Preferred:
- Advanced actuarial credentials (e.g., ASA or FSA)
- Experience with large group health insurance underwriting for fully insured business
- Knowledge of current healthcare regulations and market trends
Benefits:
- Competitive salary
- Comprehensive health, dental, and vision insurance
- Retirement savings plan with company match
- Professional development opportunities
- Flexible work environment