Position Overview
The Vice President, Stop Loss Underwriting is a leadership role responsible for shaping and executing the underwriting strategy for BCS’ Stop Loss business, part of BCS’ Large Claims Solutions suite of products. This position oversees the underwriting team, ensuring best-in-class practices that drive profitability measured by consistent pricing and risk evaluation, achieving growth targets, and collaborating for operational efficiencies. They also play a key role representing underwriting across sales, actuarial, claims product, brokers, and senior leadership.
This position reports to the Chief Actuary.
Essential Elements
• Strategic leadership: Develop and implement underwriting strategies aligned with business goals, market trends, profitability objectives, and risk appetite.
• Business Development: Partner with sales and marketing in support of new business opportunities to secure profitable revenue and distribution streams.
• Risk Management and Market Assessment: Oversee the underwriting, risk assessment, and analysis functions for stop loss programs including traditional stop loss insurance, gene therapy programs and other large claim solutions.
• Rate and Pricing Expertise: Develop and oversee pricing methodologies, rating calculations and guidelines while providing subject matter expertise to stop loss products, plan designs, and product alternatives.
• Product Development: Partner with the Product Development and Actuarial teams to ensure sound risk management and rating of products at the outset. This includes the analysis and structuring of new products in order to achieve the expectations of long-term growth and profit goals.
• Process Improvement and Development: Identifying and implementing opportunities for continuous improvement in underwriting activities and processes. This role will evaluate tools and technologies and design, test, and implement new underwriting processes and procedures.
• Team Leadership and Development: Lead a high performing underwriting team by developing professional staff, ensuring ongoing performance goal achievements, adhering to company policies, and providing ongoing feedback and training. Leads by example in a matrixed environment.
• Staffing model optimization: Evaluate and plan for growth with optimal underwriting and underwriting support staffing models that support scalability, efficiency, and talent development.
• Compliance and Regulatory Adherence: Ensure that underwriting practices are compliant with regulatory requirements and company guidelines.
• Reporting and Analysis: Leading and overseeing ad-hoc reporting and risk assessment, utilizing data insights to inform underwriting decisions, providing regular reports on underwriting performance, and presenting insights and recommendations to meet organizational goals.
• Relationship Management: Collaborate with peers and represent underwriting both internally and externally with sales, account management, actuaries, and senior leadership.
Requirements
Education and Certifications
• Advanced degree or equivalent experience in business, finance, actuarial science or related field
• Professional designations preferred
Experience & Qualifications
• 10+ years of medical stop loss underwriting experience and/or 15 years of progressive underwriting experience with proven leadership and management responsibilities
• Strong negotiation, decision making and analytical skills
• Proven experience with risk assessment and pricing methodologies for medical stop loss
• Experience with modern underwriting tools and technologies
• Ability to lead cross functionally and influence at all levels of the organization
• Strong Excel and writing skills required
Travel Required
• Frequent trips to home office and periodically to industry conferences