Senior Rating and Underwriting Analyst

With more than 7,000 employees, we are the largest health insurance company in Michigan. We offer an exciting work environment with a diverse group of employees. Our goal is to make health insurance easier for our members. We want to transform the industry and become a resource that people can trust.

Detroit, MI

Blue Cross Blue Shield of Michigan

When you think of <a href="" target="_blank" rel="noopener noreferrer">Blue Cross Blue Shield of Michigan</a> for health insurance, you can know you&rsquo;re getting much more. We're a company founded on a tradition of affordable, quality health care for everyone, improving the present and investing in the future.<br /><br />We offer:<br />Plans for employers and individuals that meet today&rsquo;s needs, budgets and lifestyle<br />The largest network of doctors and hospitals in the state<br />Lower health care costs Higher quality health care<br />Award-winning diversity practices<br />Grants and programs that promote better health throughout Michigan<br /><strong><br />Mission:&nbsp;</strong>We commit to being our members&rsquo; trusted partner by providing affordable, innovative products that improve their care and health.<br /><br /><a href="" target="_blank" rel="noopener noreferrer"><strong>Click here</strong></a> to learn more about our commitment to our Social Mission, view company updates and reviews, and view our awards &amp; accolades.<br /><br />Learn more about your options as an external candidate. <a href="" target="_blank" rel="noopener noreferrer">Click here</a> to view open positions.

keywords: underwriting,analysis,prepare,technical,quality assurance,administration,claims,knowledge,degree,skills,experience


Competitive Total Compensation Package

Overview: <strong>Evaluate and assess risks to safeguard the financial assets of the company.</strong>
Responsibilities: <ul> <li>Understand, protect and educate on the financial health of the company by making sound business recommendations and making policy exceptions when appropriate.&nbsp;</li> <li>Calculate renewal rates using appropriate rating formulas and procedures and analyze projected financial impacts.&nbsp; Validate that the final renewal rates and associated packaging is correct and ensure quality in rate releases.&nbsp;</li> <li>Explain the components of rate changes to internal and external stakeholders (sales, agents, consultants and employer groups).&nbsp;</li> <li>Prepare documents for and facilitate discussions on executive rate reviews involving multiple levels of internal leadership and impacted business segments.&nbsp;</li> <li>Create quotes for prospective &amp; existing customers using demographic characteristics and/or claims experience.&nbsp; Analyze participation&nbsp;levels, contribution methodology, industry classification and other carrier information available.&nbsp; Apply knowledge of national and local competitive information to rating decisions. Facilitate the negotiation of final rates and or applicable administrative costs with enrolled and prospective customers.&nbsp;</li> <li>Provide consultative analysis related to how BCBSM/BCN products and discounts add value. Attend and contribute to meetings with internal and external stakeholders.&nbsp;</li> <li>Represent department and/or division as a Subject Matter Expert for various technical/system/training issues on cross functional workgroups. Communicate updates to leadership and recommend approaches for implementing change.&nbsp;</li> <li>Provide training and mentoring to other members of the Rating and Underwriting department including: review and approval of case work, systems, department processes, implementation of new policies and procedures and assisting with departmental planning activities.&nbsp;</li> <li>Rotate among multiple underwriting departments to address critical ad-hoc projects and business needs.</li> <li>Other duties as assigned.</li> </ul>
Requirements: <ul> <li>Bachelor's Degree with a major in Finance, Accounting, Business Administration, Economics, Mathematics, Statistics or related field required. Master&rsquo;s Degree preferred.</li> <li>Four (4) or more years in an underwriting, actuarial or data analytical position required.</li> <li>Ability to analyze financial data, draw valid conclusions, suggest reasonable solutions and prepare summary reports required.</li> <li>Strong understanding of mathematics principals and their practical applications required.</li> <li>Working knowledge of rating formulas, self-funded and alternative financial arrangements, and the systems and mainframe applications required.</li> <li>Strong verbal and written and relationship management skills required.</li> <li>Good organizational and time management skills with an ability to handle multiple tasks.</li> <li>Knowledge of actuarial and group insurance principles, health care benefits and claims processing procedures.</li> <li>Ability to function independently under minimal supervision adjusting effectively to changes in work and keeping an open mind to new and better ways of accomplishing results.</li> <li>Knowledge of Microsoft Excel, Word and PowerPoint required.MS Access &amp; Visual Basic preferred.</li> <li>Knowledge of sales distribution channel required</li> <li>Knowledge of Federal and State laws and regulations related to health care delivery systems (HMO, PPO, ACO, etc.) required.</li> </ul>