Director, Group Underwriting - Specialty Risk
- West Caldwell, NJ
For over 100 years, Prudential's diverse and talented employees have been committed to helping customers and their families grow and protect their wealth through a variety of products and services, including Group Insurance. We are known for delivering on our promises and are recognized as a trusted brand and one of the world's most admired companies.
Group Insurance is an operating unit within the U.S. Businesses Division that primarily focuses on creating, distributing, and administering a complex range of Life, Disability and Voluntary Benefits insurance products for many top Fortune 500 companies. Prudential has been underwriting group insurance plans since 1916. Today, our Group Insurance business unit is one of the nation's leading life and disability carriers, proudly servicing nearly 3,000 clients-and bringing Financial Wellness solutions to more than 22 million individuals. Group Insurance has operation centers across the United States.
The Director reports to the Vice President, Specialty Risk Underwriting. The Specialty Risk Underwriting team supports all quote activity (new business and renewal), and all products (Life, Disability, and Voluntary) for the Association business segment. In addition, the team quotes Voluntary Benefits (Critical Illness, Accident, and Hospital Indemnity) and Special Risk AD&D/BTA for our Premier and National Accounts segments. The Director will have approximately 5-6 direct reports and will partner closely with additional team members and indirect reports.
The Director leads a team of underwriters responsible for the risk assessment and financial underwriting for groups in the Premier, National Accounts and Association segments. They will be accountable for the team's performance and results, including meeting revenue, persistency and profitability targets. The Director effectively uses strong organization, leadership and superior technical skills to develop the staff's underwriting and business acumen. Main responsibilities include:
- Daily leadership of the Underwriting team, including managing workflow, case assignments and staffing.
- Responsible for strategic planning at a segment or product level including participation in multi-year planning efforts and making projections based on emerging account experience and trends.
- Accountable for developing and supporting a culture of high performance and talent excellence , through effective recruiting, coaching and development of staff as well as supporting diverse talent initiatives
- Apply an awareness of industry trends, competitive landscape, and factors that influence the marketplace and the regulatory environment to facilitate and develop strong pricing, risk selection, and decision making across a portfolio of risks as well as mitigate operational risks and optimize our processes
- Support quality review efforts and be accountable for team's adherence to all policies and procedures
- Accountable for actively monitoring both financial and process execution performance and providing clear feedback, direction, and training as needed to improve consistency and quality of performance throughout the team
- Collaborate with partners across functional lines to meet organizational objectives. Frequent interaction with other Underwriting teams, Distribution, Actuarial, Claims and other functional and control units
- Independently communicate and negotiate with both internal and external partners including key clients, brokers, and consultants (i.e. finalist meetings, training, town halls, renewal discussions, sales meetings)
- Actively engage in supporting the positive consultative outcomes crucial to our long-term success including case reviews
- Serve as a role model and change champion
- Lead or contribute to cross-functional projects/key strategic initiatives that help drive pricing strategy and set the strategic direction for the business unit
- Contribute new strategic ideas that could lead to process efficiencies and/or product development and help drive pricing strategy decisions and setting strategic direction for the business unit. Expected to educate, inform, and influence Senior Leadership regarding business decisions that affect portfolio results
- Responsible for the development and execution of policies and procedures
- This role may include travel and has a visible presence in support of market/regional level strategies
Remote work is available.
- Your Expertise
- Candidates should have a minimum of 10 years Underwriting experience
- A strong business acumen, including general business writing, organization, presentation and time management skills
- Strong leadership, training and mentoring skills
- Be comfortable dealing with numbers, analytics, and problem solving
- Excellent Microsoft Excel skills
- Proficient in Microsoft Word, Access and PowerPoint
- Strong written and verbal skills related to internal and external client interaction
- Resourcefulness, flexibility and creativity
- Ability to work independently as well as in a team environment
- Generate creative solutions and be a proactive problem-solver
- Prior Group Insurance experience
What you'll need to succeed:
It'd be a plus if you have:
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