Website Nationwide Mutual Insurance Company
As a Life Underwriting Consultant, you’ll analyze, select and classify applications for life insurance, of considerable technical complexity and exposure, to ensure underwriting quality according to established underwriting policies, practices and standards. You’ll review and make decisions on larger, more sophisticated, or unusual business.
- Evaluates and accesses applications requiring additional evidence of insurability. Determines the need for and authorizes the ordering of, underwriting requirements to include, but not limited to, medical examinations, blood profiles, home office specimens, attending physician reports, inspection reports, client direct interviews, and other essential information.
- Reaches terms on, coordinates, and negotiates both automatic and facultative reinsurance within the contractual terms and conditions of Nationwide’s various reinsurance treaties and product and market practices.
- Develops a strong understanding of the accelerated underwriting process and can apply risk-based decision-making skills to determine the appropriate requirements needed to provide protective value as well as determining appropriate risk class. This may include but not limited to, making fluid-less underwriting decisions as well as the utilization of alternative sources of medical information while maintaining appropriate tolerance for accepting risk.
- Consults with other underwriters on the team and accepts referred cases when designated. Suggests innovative solutions, motivates team performance and facilitates open communication to achieve desired results. Supervises the handling of unusual or challenging cases.
- Maintains in-depth knowledge of manuals, underwriting materials, rules, regulations, procedures medical factors and practices impacting mortality and morbidity underwriting.
- Maintains solid understanding of all underwriting administrative systems to conduct business and provides outstanding service to all internal and external customers and field partners.
- Receives, evaluates and underwrites, on a medical or non-medical basis more complex applications for life insurance up to their maximum handling limit as approved by the Chief Underwriter. Protects the confidentiality of documentation and information acquired throughout the underwriting process. Works within broad limits and authority on highly sophisticated assignments requiring niche knowledge in area of expertise.
- Evaluates, appraises and quantifies data derived from personal or business financial information and establishes insurable interest in keeping with the principle of indemnification.
- Handles complex financial underwriting applications and often assists others through referrals and training on financial underwriting.
- Education: Undergraduate studies in medical related discipline, marketing, insurance, risk management, economics, finance or business management.
- Medical Underwriting: Understands the anatomy of the human body and disease processes and can assess the impact of an individual’s mortality and morbidity risk and can translate that to assess the appropriate risk classification.
- License/Certification/Designation: Obtainment of AALU designation. Participation in, or attainment of, professional/technical studies or designation such as the Chartered Life
- Underwriter (CLU) and Fellow of Life Management Institute (FLMI). EKG Certified preferred.
- Experience: Ten years life underwriting experience
- Financial Underwriting: Solid foundation for sophisticated financial underwriting. Extensive knowledge of life underwriting principles and practices, including basic contract law. In-depth knowledge of anatomy, physiology, pathology, medical and non-medical risks as they relate to life insurance. Knowledge of managing and interpreting underwriting results.
- Relationships: Very comfortable negotiating offers and calling out on offers that are other than applied for to explain reasons to the advisor or sales leader.
Company: Nationwide Mutual Insurance Company
Vacancy Type: Full Time
Job Location: Colorado, United States
Application Deadline: N/A