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USI Insurance Services · 1 day ago

Employee Benefits Business Analyst IV

Houston, TX

Full-time

Onsite

Senior Level

5+ years exp

USI Insurance Services is one of the largest insurance brokerage and consulting firms in the world, and they are seeking a Senior Employee Benefits Business Analyst IV. The role involves independently analyzing information and creating financial deliverables for large clients with complex benefit programs, primarily focusing on self-funded plans.

Commercial InsuranceConsultingEmployee BenefitsFinancial ServicesHealth InsuranceInsuranceRisk Management

Growth Opportunities

Responsibilities

Responsible for financial analytics for clients that are self-funded. Typical client size is larger than 1,000 lives

Prepare analyses often with customization. Analyses may include:

Market review analysis

Renewal rate and funding projections and modeling

Analysis of claims utilization

Rate and Contribution analysis

Claims experience reports

Benchmarking

Financial funding analysis

IBNR and lag analyses

Multi-year technical claims review with utilization metrics, gap in care, cost modeling, and benchmarking

Develop alternative strategies, plan modeling, and cost reduction opportunities. Includes developing custom illustrations to present financial metrics according to client preferences

Perform technical analysis of group insurance contracts and financial arrangements

Serve as primary contact with insurance carriers. Negotiate and market coverage for new business quotes and renewals. Includes requesting quotes and evaluating options., negotiating rates and benefit features, and preparing renewal/new plan options with executive summary

Develop and maintain excellent carrier relationships

Review and validate carrier renewal rating illustration

Analyze experience and claims utilization data for financial and plan usage conclusions. Includes identifying trends and relationship of experience to renewal rating. Suggest renewal activities based on findings from experience data

Provide guidance and support to analysts on financial and utilization data analysis

Independently write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. Articulate USI strategic objectives

Prepare carrier and client written correspondence. Includes carrier renewal confirmation letters and client renewal letters

Regularly conduct analysis using USI internal and third-party external tools. Includes USI 3D, USI Clear Options Rx, and actuarial tools

Collaborate with service team members to ensure deliverables are in line with clients’ strategic objectives. Make recommendations for client actions based on analysis of customer data

Act as a resource for sales executives in developing strategic plans and solutions for clients and prospects

Occasional participation at client meetings to review financial deliverables required

Assist with team development as directed by Team Lead. Includes developing and delivering team training, onboarding new team members, mentoring analysts, and participating in interviews

Assist with the development of team standards and processes

Serve as escalation point and resource for the team

Participate in the peer review process, primarily as a reviewer for Level I, II, and III analysts. Mentor analysts via their reviewed work and provide strategic feedback

Keep current on industry and new product information, legislation, technology, and trends

Qualification

Financial analyticsEmployee benefits experienceData analysisLife & Disability insurance licenseMicrosoft ExcelNegotiation skillsOrganizational skillsCommunication skillsProblem solvingTeam collaboration