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Group Underwriting Manager
Position Desired:
Group Underwriting Manager
Location:
Mid-Atlantic
Northeast
South
Resumé:
Home Address:
1785 Fairway Drive
Jamison, Pa. 18929
email: ksullivan1962@gmail.com
Cell: (267) 980-1033
Work: (610) 362-3154
PROFILE:
§ Represent internal and external clients with unparallel service
§ Interface effectively and confidently with senior management of clients and/or prospects
§ Develop strategic recommendations related to market competition, products and pricing for presentation to sales, potential clients and/or brokers
§ Organizational and time management skills to prioritize workloads to meet time sensitive deadlines
§ Instill confidence and comfort with clients and/or staff
§ Analyze benefit plans and assess risks as to frequency and potential severity of losses
§ Establish underwriting criteria and policies to ensure proper rating methodologies
§ Underwritten all Accident & Health products. In addition to my underwriting experience, my background includes actuarial, managerial / supervisory, operations, account management, product development, project management and reinsurance functions
EXPERIENCE:
April 2008 to Present: Chartis Insurance Company, Essington, PA.
Position: Assistant Vice President Life Settlement Underwriter – Risk Finance Department
Participate in key aspects of the Life business, including: case underwriting for life settlements, annuity purchase and lenders protection insurance; implement the underwriting / pricing process for new products and partnerships; routine interaction with operations, management and our originators; involved with actuarial and financial on actual to expected experience studies and financial reporting. Performed underwriting due diligence of American General’s affinity and group operation in Neptune.
August 2005 to April 2008: Genworth Financial, Richmond, VA.
Position: Group Long Term Care Risk Manager
Established the Group LTC underwriting department. Developed the appropriate risk assessment tools, which included the guarantee issue guidelines and underwriting policies / procedures. Established Genworth as one of the top three Group leaders. Responsible for the profitability and performance of the Group LTC block. Performed semi-annual experience reviews with senior management. Trained newly hired group reps and associates. Responsible for the Proposal Unit. Presented at enrollment meetings. Chairperson of the Multi-Life sales process and underwriting requirements. Team Genworth Award member for writing the AARP LTC account.
Left Genworth to return to the Philadelphia area.
July 2003 to August 2005: CIGNA, Philadelphia, PA.
Position: National Accounts Underwriting Director – Group Life, STD and LTD
Supervised and managed a staff of three National Account Underwriters. Executed the financial management of very large and complex groups. Responsible for an inforce block of business in excess of $400MM and quoted new business in excess of $300MM. Monitored and analyzed emerging account results and initiated rate actions and/or plan design changes. Negotiated complex financial arrangements with officers of assigned customers and with personnel in leading consulting firms. Performed presentations to existing or potential clients. Advised clients on savings potential, plan design legislative requirements, case structure, utilization information, alternate funding arrangements and industry trends. Provided guidance to other departments in resolving service or claim issues which directly had financial implications. Trained newly hired group reps. Departed because CIGNA’s focus shifted from National Accounts to Mid-Market business (< 10,000 lives).
I was pursued by Genworth for my group actuarial and underwriting experience.
September 2001 to July 2003: Reinsurance Services of Princeton, Princeton, NJ.
Position: Assistant Vice President Accident and Health Underwriting
Managed a $20MM portfolio which resulted in a net loss ratio of 72.3%. Participated in and assisted our managing general underwriters (MGU’s) with strategic planning, including action planning, renewal planning and setting management objectives. Performed onsite due diligence evaluations and underwriting audits. Assisted Senior Management in departmental strategy and planning efforts. Performed reserve evaluation to prepare financial reports. Executed reinsurance treaties and reviewed clients monthly premium and claim statements.
RSP was writing on behalf of American United Life (AUL). AUL opted to exit the A&H market, thus we were placed in a run-out position and were unable to find a replacement. RSP eventually shut down its operation in January 2004.
January 1999 to September 2001: Legion Insurance Company, Philadelphia, PA.
Position: Vice President Accident and Health Department
Supervised and managed a staff of eight employees (AVP of Administration, AVP of Claims, AVP of Compliance and her direct report, Senior underwriter and 2 Junior underwriters). Managed a $150MM portfolio of accident and health program business. Program business included group and individual medical, stop loss, short-term medical, group and individual disability, dental, vision, long term care, student accident and critical illness. Monitored compliance with existing management and reinsurance agreements. Implemented corrective actions to maintain program compliance and profitability, developed program renewal strategies and exit strategies as deemed appropriate. Negotiated reinsurance terms with the Legal Department and external reinsurance parties. Interfaced with Legal and Compliance areas relative to changes in product type, expansion of authorized territories, policy riders and amendments, interacted with Claims personnel to assist and provide direction on claims related issues and assisted the Legal, Compliance, Administration and Claims areas on understanding program provisions and resolving any disputes relating to such provisions. Coordinated and executed moving the administration functions from Milwaukee to Philadelphia.
Legion’s rating was downgraded because of their cash flow problems and lack of reinsurance recoverables. This prompted me to look for a new position, just a few months before Legion was taken over by the Pennsylvania Department of Insurance.
October 1996 to January 1999: Prudential Insurance Company
August 1997 to January 1999 (United HealthCare assumed the AARP account from Prudential)
Position: Actuarial Consultant (AARP HealthCare Operation – Fort Washington, PA)
October 1996 to August 1997
Position: Senior Group Disability Underwriter (Parsippany, NJ)
March 1995 to October 1996: Reliance Standard Life Insurance Company, Philadelphia, Pa.
Senior Group Underwriter – Products underwritten included Short and Long Term Disability, Life, AD&D, Voluntary AD&D and Travel Accident.
December 1993 to March 1995: Guardian Insurance Company, Bethlehem, Pa.
Senior Group Disability Underwriter
October 1991 to December 1993: Combined Insurance Company of America, Trevose, Pa.
Position: Actuarial - LTD Pricing and Product Manager
January 1989 to October 1991: Unum Life Insurance Company, Portland, Maine.
Position: Actuarial Student Rotation Program
• Individual Life July 1991 to October 1991
• Group Long Term Disability Financial February 1990 to July 1991
• Corporate January 1989 to February 1990
Other Experience: Business Manager, 401(k) and Pension Manager
DESIGNATIONS and EDUCATION:
Certified Employee Benefit Specialist (CEBS) Designation
Pennsylvania Accident and Health Life and Annuities Producer License
Society of Actuaries: Courses P, FM, 7 and VEE Applied Statistical Methods
Fellow of the International Society of Certified Employee Benefit Specialists
Certificate in Long Term Care (CLTC)
Mount Saint Mary’s College, Emmitsburg, MD. – B.A. Mathematics & Economics
Computer Experience: Microsoft Office (Excel, Word, Access, Powerpoint) and Lotus 1-2-3
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