Vice President, New Business Underwriting

We are seeking a dynamic and results-driven Vice President of New Business Underwriting to lead our New Business Underwriting team. This individual will play a pivotal role in driving strategic planning, establishing and achieving key performance indicators (KPIs), and upholding underwriting discipline as we grow our base of captive members. As a key member of the Underwriting team, the VP of New Business Underwriting will collaborate across departments to ensure the seamless delivery of value to our clients and support the ongoing growth of our business.

1. Strategic Planning:

• Develop and execute a comprehensive New Business Underwriting strategy aligned with the company’s overall goals and objectives.
• Identify opportunities for improvement within existing processes and create actionable plans to maximize efficiency and accuracy.
• Monitor industry trends and competitive landscapes to adapt strategies and maintain a competitive edge.

2. Leadership and Team Management:

• Lead, mentor, and inspire the New Business Underwriting team to achieve excellence in efficiency and accuracy.
• Establish clear roles, responsibilities, and performance expectations for team members.
• Foster a culture of accountability, collaboration, and continuous improvement.

3. KPI Development and Achievement:

• Set, track, and report on KPIs related to loss ratio, target Rate to Manual and Rate to Formula, turnaround times, hit ratios and other important metrics.
• Implement robust measurement systems to monitor performance and identify areas for improvement.
• Ensure alignment between individual, team, and organizational objectives.

4. Carrier Relationship Management:

• Build and nurture strong, trusted relationships with our stop loss carrier partners.
• Conduct regular business reviews with stop loss carriers to ensure satisfaction and identify opportunities for additional support or services.
• Serve as the escalation point for underwriting issues, ensuring timely resolution and a focus on long-term solutions.
• In partnership with Underwriting Operations, ensure continued progress of strategic integration initiatives.

5. Cross-Functional Collaboration:

• Partner with Sales and Marketing to ensure clear communication and efficiency in sales process and handoffs between Sales and Underwriting.
• Partner with Account Management, Customer Operations and Implementation teams to align customer strategies and initiatives.
• Provide insights and feedback to drive product development and service enhancements in our internal Underwriting toolkit.
• Collaborate with leadership to ensure alignment on region profitability and stop loss premium growth.

6. Continuous Improvement:

• Identify and implement best practices, tools, and technologies to optimize underwriting processes.
• Stay informed about emerging trends and innovations in the broader stop loss market.
• Promote and facilitate professional development opportunities for the New Business Underwriting team.

·         Proven track record of success in Underwriting, ideally within medical stop loss underwriting.

·         Demonstrated ability to build and maintain a profitable book of stop loss business.

·         Experience working with the broker community and a strong understanding of broker behaviors and motivations.

·         Strong strategic planning and analytical skills, with experience setting and achieving KPIs.

·         Exceptional leadership and communication skills, with the ability to influence and drive results across a large team.

·         Experience working with a group captive structure and familiarity with regulatory concerns and considerations.

·         A growth-oriented mindset with a passion for thinking outside the box.

·         Bachelor’s degree in Business, Healthcare, insurance, or a related field.

What We Offer:

·         An opportunity to shape the future of our Underwriting function and contribute to the company’s long-term success.

·         A collaborative and innovative work environment.

·         Competitive compensation and benefits package.

·         If you’re a strategic thinker with a proven ability to drive results and build lasting relationships, we invite you to apply and join our team as Vice President of New Business Underwriting.