Benefits Market Analyst
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Job Location:
Cleveland, TN - USA
Monthly Salary:
Not Disclosed
Posted on:
2 hours ago
Vacancies:
1 Vacancy
Job Summary
Job Summary: Responsible to coordinate the marketing and placement of a clients employee benefit programs; prepares and presents RFPs to carriers to obtain quotes that meet the needs of existing and prospective clients; consults with team members to identify solutions that minimize risk and maximize cost effectiveness.
A Day in The Life:
- Evaluates client data and coverage specifications to prepare RFPs (Request For Proposal) for submission to multiple insurance carriers.
- Obtains quotes for appropriate insurance coverages that include various benefit products and funding mechanisms.
- Reviews existing policies comprised of multiple product coverages including but not limited to medical pharmacy dental vision ancillary and stop loss and any new coverages needed to meet client plan objectives; compiles a complete concise and understandable report for market submission.
- Evaluates and interprets the clients claim loss experience and any related financial information to ensure all data needed has been accurately identified and included in the RFP.
- Submits the RFP to the market communicating the clients objectives; responds to any related questions and maintains collaborative relationships with all carriers and key business partners.
- Builds relationships with carrier partners to develop partnership and trust to enable collaborative working environment to best support the client needs
- Collaborates with Service Team to negotiate optimal pricing policy provisions terms and conditions
- Summarizes carrier quotations by comparing and interpreting policy design provisions terms and exclusions and develops a coverage comparison document for client proposal and presentation.
- Knowledgeable in the changing insurance marketplace and each carriers portfolio make-up and risk preference; remains current in their financial strength and risk appetite.
- Evaluates network providers service access and discount information to match client needs with the service deliverables required.
- Uses required agency systems to submit and track quote activity; ensures timely and complete responses; proactively works with service team to identify pipeline of future activity.
- Assists in the performance of peer reviews for other Benefits Market Analyst.
What Youll Need:
Bachelor degree in Business Administration or Communications from a four-year college or university
Three to five years or more of related experience or the equivalent combination of education and experience.
Prior Experience Specifically Required
o Familiarity with business-to-business insurance products and the carrier marketplace
Who You Are:
The specific personal traits required to accomplish the essential duties of this job successfully include:
Strong organizational skills with ability to prioritize high work volume
Attention to detail prepares quality and accurate information
Performs effectively with competing deadlines
Strong written verbal and interpersonal communication skills
Demonstrated resourcefulness when working independently and on a team
Effective decision-making and reasoning skills
Technical strength in understanding and processing mathematical information
Process oriented to drive efficient workflow
Develops and maintains collaborative internal and external relationships
Required Experience:
IC
Key Skills
- Microsoft Access
- SQL
- Analysis Skills
- Microsoft Powerpoint
- Securities Law
- Data Mining
- Investment Banking
- Market Research
- Microsoft Excel
- Visual Basic
- Bloomberg
- Data Analysis Skills
