Underwriter- New Business at ParetoHealth

Philadelphia, Pennsylvania, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Healthcare, InsuranceIndustries

Requirements

Bachelor’s degree in finance, economics, actuarial science, or a related field; relevant professional certifications are a plus
Minimum of 2-3 years of experience in underwriting, preferably with some exposure to stoploss insurance and health risks. Experience with captives is a plus but not required
Basic proficiency in underwriting software, data analysis tools, and Microsoft Office Suite
Ability to analyze data, identify trends, and support underwriting decisions
Good communication and negotiation skills, with the ability to articulate technical concepts to a non-technical audience
Team player, capable of working effectively in a dynamic and collaborative environment
Basic understanding of stoploss products, self-funding, healthcare industry trends, and the regulatory landscape

Responsibilities

Support the underwriting process using a best-in-class captive offering to create profitable stoploss offerings for prospective captive members
Conduct preliminary risk assessments of prospective Pareto captive members, who are currently both fully insured and self-funded health plans, to assist in determining appropriate stoploss coverage levels and premiums
Assist in analyzing healthcare data, including claims and utilization patterns, to forecast potential risks and cost implications
Collaborate with the Sales team to provide consultants with the necessary financial information required to join the captive
Adapt to working in an environment of incomplete information
Stay informed about competitive market dynamics and respond appropriately
Work under the guidance of senior underwriters to enhance underwriting skills and knowledge
Participate in ongoing training to develop a deeper understanding of medical treatments and projected costs in partnership with the clinical risk team
Ensure adherence to industry standards and legal requirements in all underwriting decisions and practices

Skills

Key technologies and capabilities for this role

UnderwritingRisk AssessmentStoploss InsuranceCaptive InsuranceHealthcare Claims AnalysisUtilization AnalysisHealthcare Data Analysis

Questions & Answers

Common questions about this position

What experience is required for the Underwriter position?

A minimum of 2-3 years of experience in underwriting is required, preferably with exposure to stoploss insurance and health risks; experience with captives is a plus but not required.

What education is needed for this role?

A Bachelor’s degree in finance, economics, actuarial science, or a related field is required; relevant professional certifications are a plus.

What technical skills are necessary for the Underwriter role?

Basic proficiency in underwriting software, data analysis tools, and Microsoft Office Suite is required, along with the ability to analyze data, identify trends, and support underwriting decisions.

What is the company culture like at ParetoHealth?

ParetoHealth emphasizes collective greatness and a united team driven to transform employee health benefits for the greater good, focusing on innovative solutions that provide effective, affordable healthcare.

Is the work arrangement remote or on-site?

This information is not specified in the job description.

ParetoHealth

Self-insured employee health benefits solutions

About ParetoHealth

ParetoHealth offers employee health benefits solutions for small and medium-sized businesses through a self-insured model, allowing companies to set aside funds for health claims instead of paying insurance premiums. Their main product is the "benefits captive" program, where multiple companies share the risk of health claims, helping to manage costs and provide comprehensive benefits. Unlike competitors, ParetoHealth uses data-driven intelligence to monitor and control claims costs, ensuring employees receive quality care at competitive prices. The company's goal is to deliver a complete solution for health benefits while fostering diversity, equity, and inclusion in the workplace.

Philadelphia, PennsylvaniaHeadquarters

2011Year Founded

$522.1KTotal Funding

GROWTH_EQUITY_VCCompany Stage

Data & Analytics, Consulting, HealthcareIndustries

51-200Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Disability Insurance

401(k) Company Match

401(k) Retirement Plan

Risks

Increased competition from new entrants may erode ParetoHealth's market share.

Economic downturns could reduce SME spending on employee benefits, impacting revenue.

Regulatory changes could increase compliance costs for self-insured health plans.

Differentiation

ParetoHealth offers a unique self-insured model for SMEs to control health costs.

Their benefits captive program pools resources to mitigate large health claim risks.

Data-driven intelligence is used to manage and control employee health claims costs.

Upsides

Warburg Pincus's investment indicates strong market confidence in ParetoHealth's growth potential.

Reaching 2,000 employers in their captive program shows successful market penetration.

New leadership roles focus on enhancing customer experience and expanding market reach.

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