Senior Underwriter
Position Overview
The Senior Underwriter - Captives & Stop Loss is responsible for underwriting, pricing, and managing complex medical stop-loss and captive insurance programs. This role combines advanced risk assessment with strategic collaboration across brokers, consultants, and captive program stakeholders to drive profitable growth.
The Senior Underwriter serves as a subject matter expert in alternative risk financing, supporting both new business development and renewal portfolio management while ensuring disciplined underwriting and strong client outcomes.
Key Responsibilities
Underwriting & Risk Assessment
- Evaluate and underwrite medical stop-loss submissions for self-funded employer groups and captive programs
- Assess risk using claims data, large claimant analysis, industry trends, and demographic factors
- Develop pricing, rates, and contract terms (specific and aggregate stop-loss) aligned with risk tolerance and profitability targets
- Analyze complex cases, including shock claims, lasers, and high-cost conditions
- Apply underwriting judgment to unique captive structures and layered risk arrangements
Captive Program Expertise
- Underwrite group and member-level risks within captive insurance programs (single-parent, group, and cell captives)
- Collaborate with captive managers, consultants, and reinsurers on program structure and performance
- Evaluate risk-sharing mechanisms, attachment points, and pooling strategies
- Monitor captive performance, including loss ratios, funding adequacy, and member participation
- Contribute to program design and enhancements to ensure long-term stability and growth
Broker & Client Engagement
- Partner closely with brokers, consultants, and producers to win and retain business
- Provide technical underwriting guidance and explain pricing, terms, and risk considerations
- Participate in finalist meetings, strategy discussions, and client presentations as needed
- Negotiate terms and structures to balance competitiveness with sound underwriting discipline
- Build strong relationships with key distribution partners
Portfolio Management
- Manage a block of stop-loss and captive business, ensuring profitability and retention
- Analyze renewal business, including claims experience, trend assumptions, and rate adequacy
- Identify deteriorating risks and recommend corrective actions (rate adjustments, lasers, plan changes)
- Monitor portfolio metrics, including loss ratios, rate changes, and retention
Analytics & Reporting
- Interpret complex datasets including claims files, utilization reports, and actuarial projections
- Collaborate with actuarial and analytics teams to refine pricing models and assumptions
- Maintain accurate underwriting documentation and compliance with internal guidelines
- Contribute to reporting on pipeline, renewals, and portfolio performance
Market & Product Development
- Stay current on industry trends, including self-funding adoption, captive growth, and emerging high-cost therapies
- Provide insights into product development, including innovative stop-loss structures and alternative funding solutions
- Support development of underwriting guidelines and best practices
Qualifications
Required
- 5-10+ years of experience in medical stop-loss underwriting
- Strong expertise in self-funded health plans and stop-loss structures (specific & aggregate)
- Experience underwriting or supporting captive insurance arrangements
- Deep understanding of claims data, large claimant risk, and healthcare cost drivers
- Proven ability to manage broker relationships and negotiate complex deals
Preferred
- Experience with group captives or alternative risk programs
- Exposure to reinsurance structures and relationships
- Background in actuarial, analytics, or finance (highly analytical underwriting approach)
- Familiarity with pharmacy (Rx) trends and high-cost specialty drugs
- Professional designations (e.g., HIAA, CEBS, or actuarial progress)
Key Competencies
- Advanced underwriting judgment and risk assessment
- Strong analytical and financial acumen
- Negotiation and deal-making skills
- Broker and client relationship management
- Attention to detail and disciplined decision-making
- Ability to operate in a fast-paced, growth-oriented environment
Success Profile
A successful Senior Underwriter in this space is a technical expert and strategic partner-someone who can confidently evaluate complex risks, structure competitive deals, and collaborate across stakeholders to grow a profitable stop-loss and captive portfolio.
FAQs
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