Rating Analyst I
Part of the Underwriting family of roles and serving as the first point of contact for Brokers when a Request for Proposal is received, the Rating Analyst leverages industry and local market knowledge to lead the Group Sales staff, brokers and plan holders through a streamlined and consistent process of creating and distributing competitive rates/quotes relative to in-force rates and location market conditions.
Responsible for managing the RFPs process including processing, distributing, and responding to inquiries regarding formal Proposals from brokers, sales and underwriting.
Independently, or in collaboration with Sales Reps, meet with Underwriting to negotiate rates, exceptions and approvals; discuss RFP, plan design options, and multi-line options with Producers and their assistances; build strong relationships with Underwriting, Brokers and their staff, to ensure that customer needs are met while maintaining profitability and acceptable risk.
Apply Guardian and competitor information to rate, re-rate, quote and re-quote competitive proposals, based upon specifications in RFP, Guidelines, sales and Underwriting collaboration and discussions/negotiations with all relevant parties. Make recommendations regarding benefit/rate options based on analysis of RFP and assessment of customers busying triggers through consultative interactions with Sales Reps and Brokers. Perform steps to process sold cases and transfer to the Onboarding Department.
Generate all manual rates for RFPs through the life cycle of the opportunity. This includes initial rating and re-rating necessary for the RGO to release initial quotes or re-quotes.
This will be accomplished through:
· Evaluating all initial RFPs
· Collaborating with sales to negotiate rates, exceptions and approvals
· Discussing RFP, plan options and rates with brokers
· Developing, in partnership with sales and underwriting a quote that maintains profitability and acceptable risk
· Creating and delivering all the necessary quotes to position Guardian in a positive way in the market
· Providing service to brokers and their assistance related to the quoting process
· Ensuring accuracy and completeness of all quoted materials
Thoroughly understands the Rating and Quoting processes, workflows and technical requirements needed to rate and quote new business or new lines of coverage. Must also be attuned to possible downstream impact to other customer service delivery areas.
· Understands details plan provides and limitations and provides alternative options that closely meet what a client’s prior plan entail. Rating analysts will review requests and proactively assessment potential discrepancies and coordinate solutions with the sales and underwriting team.
· Answers questions, troubleshoots and resolves potential problems, including technical and workflow issues.
· Demonstrates strong product/business knowledge, critical thinking, negotiation/soft skills, and the ability to perform tasks using technology and systems utilized within Guardian (Salesforce CPS, Simon, Excel, SharePoint, etc.).
This position reports to the Team Leader, Rating and Quoting who, in turn, reports to the Manager, Rating and Quoting.
· Excellent communication and listening skills with ability facilitate discussions among brokers, sales, underwriting and other key stakeholders
· Excellent customer service soft skills
· Ability to handle and manage multiple quotes and opportunities and within a tight timeframe
· Strong consultative, negotiation, persuasion and influencing skills with a sales orientation
· Intermediate Math / Analytical skills.
· Ability to build and maintain collaborative working relationships at all levels.
· Planning and Organization skills and ability to multi-task while working independently
· Personal accountability/goal oriented: meets processing goals, etc.
· Strong understanding of group insurance industry, company operations and, insurance terminology
· Awareness of underwriting principles and practices.
· Group Insurance product knowledge preferred (e.g., Dental, Vision, LTD, STD and Life).
· Technology: PC, Microsoft Office Suite, Siebel Toolkit, CPS, CPS Census Validator Tool, Mainframe applications.
· Builds collaborative relationships that are mutually respectful.
· Expresses oneself in an open and honest manner.
· Considers the long-term outcomes and the needs of partners/clients when making decisions.
· Ability to navigate and perform in fast-paced and changing environment.
Education: AA or AS degree required, BA / BS preferred
Experience: 0 to 3 years Group Insurance experience, preferably in a fast-paced operational area such as claims, call center, or within the sales support organization with experience dealing with sales reps, customers, etc.
Little to no travel required.