Job Description
Join Modern Woodmen as a Principal Underwriter and play a pivotal role in shaping our life insurance application review process. As a Principal Underwriter, you'll develop and implement effective risk evaluation processes, balancing customer needs with our pricing and productivity goals. Mentor senior underwriters, stay updated with industry trends, and collaborate with management to solve underwriting challenges.
Modern Woodmen of America is the nation's third largest fraternal benefit society with assets over $18B. Fraternal benefit societies are unique membership organizations with peculiar names that pair the "member owned" characteristic of a mutual insurance company with the "social mission" characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation's most effective volunteer networks.
Responsibilities: - Evaluate risk assessment guidelines and adjust based on industry research and benchmark studies with our reinsurers.
- Mentor and coach senior underwriters and assist them with making the best possible offer as effectively and efficiently for complex cases.
- Work with the department's management team in developing new procedures and solutions to solve new business and underwriting problems.
- Maintain an expert level of knowledge in all underwriting related areas and utilize this knowledge to improve Modern Woodmen's underwriting effectiveness. Read industry publications, view webinars, attend industry conferences and participate in applicable industry groups.
- Work on departmental projects.
- Work with department manager, senior leadership, and possibly other departments regarding department data and metrics for end of month, end of quarter, end of year, and other special reports as needed.
- Review and communicate recommendations of underwriting philosophies and guidelines to the department's management team, Underwriters and stakeholders.
- Review contestable claims and rescissions of previously issued insurance and serve on the Claims Review Committee.
- Educate financial representatives about the underwriting philosophy and the vital role it serves for the organization.
- Act as the reinsurance liaison in monitoring reinsurance practices and policies. Recommend adjustments when necessary.
- Manage relationships with vendors (specifically MIB) who provide a service to the risk assessment process.
What we need: - Bachelor's degree required.
- 10+ years' experience underwriting life insurance.
- LOMA Fellowship, FALU required. Other industry designations preferred (e.g. CLU).
- Promote a positive and professional image and develop productive relationships.
- Excellent communication and customer service skills.
- Strong attention to detail and accuracy, with the ability to prioritize and coordinate multiple tasks.
- Demonstrate problem solving and analytical skills.
- Ability to work well with the pressure of deadlines and be a productive member of the team.
- Willingness to obtain industry certifications and expertise.
- Ability to work independently and in a team environment.
What we offer: - Pay: The annual pay range for this position is $100,000-$114,000. The specific rate will depend on the successful candidate's qualifications and prior experience. Candidates outside of the range are encouraged to apply, and will be considered based on experience, skill and education.
- Work Arrangements: This is a full-time office-focused position: 37.5 hours per week (7.5 hours per day), Monday- Friday, with flexible start time between 7:00AM-9:00AM. Office focused positions work on-site due to the nature of the work and have limited remote days.
- Stability: Modern Woodmen has been Modern Since 1883SM and exists for our members. We make long-term decisions that provide stability to our employees, financial representatives, and members.
- Respect for Personal Time : We offer vacation, sick leave and 11 paid holidays. We value your time outside of work and offer careers that blend work and life well.
- Professional Growth : Benefit from our commitment to employee development which includes educational offerings to enhance your knowledge of our industry.
- Great Culture : We build strong working relationships across our organization through collaborative work and volunteer opportunities.
- A Beautiful Office: Enjoy a beautiful view! Our home office, located in downtown Rock Island, IL, has a lovely plaza overlooking the Mississippi River.
- On-site caf: Our employees can purchase a variety of breakfast, lunch, and beverage options at Caf 1883.
- A Thriving Local Community: Not from the Quad Cities and hesitant to consider relocation? Give it some thought. The Quad Cities offers an idyllic Midwestern lifestyle along the mighty Mississippi and consistently ranks at the top of the list for quality of life and cost of living. It's home to more than our share of artists, festivals, and fun in every season.
- Exceptional Benefits : Our comprehensive benefits package is designed to support your health and financial well-being. Benefits include:
- Company-paid retirement plan
- Matching 401(k) Plan
- Medical, Dental, Prescription drug Insurance. We pay 100% of employee health insurance premium and 50% of employee dependents' premiums.
- Group Term Life Insurance
- Long-term and short-term disability.
- Voluntary benefits: Vision, Flexible Savings Accounts, Accident Insurance
Modern Woodmen is an equal opportunity employer. Modern Woodmen is committed to providing a respectful environment where each person's diverse opinions, attitudes, attributes, and feelings are respected. Modern Woodmen
Job Tags
Holiday work, Full time, Temporary work, Local area, Remote job, Relocation, Home office, Flexible hours, Monday to Friday,