Director of Underwriting
Gravie
Administration
Hartford, CT, USA
Posted on Jan 16, 2025
Hi, we’re Gravie. Our mission is to improve the way people purchase and access healthcare through innovative, consumer-centric health benefit solutions that people can actually use. Our industry-changing products and services are developed and delivered by a diverse group of unique people. We encourage you to be your authentic self - we like you that way.
A Little More About The role:
Gravie is seeking a Director of Underwriting for Gravie’s Comfort health plan and other proprietary insurance products. This critical leadership role will drive successful pricing and performance of Gravie’s insurance business and will play a key role in helping Gravie win and retain customers. You will lead Team Leaders who manage underwriters, develop and implement underwriting strategies, policies and tools, and support the overall business performance. Our current focus is on pricing middle market and small group business nationally, leveraging our innovative capabilities. The underwriting focus is on optimizing risk across Gravie’s portfolio whether it is a level funded approach for appropriately sized small-to-midsized group employers or self-insured (ASO) with integrated stop loss arrangements for large groups. This position reports directly to the Senior Vice President of Underwriting.
You will:
· Play a key leadership role in evolving and using Gravie’s proprietary underwriting engine to offer competitive pricing for a first-of-its-kind health plan to employers and their employees across the country.
· Have input into the evolution of Underwriting Org design, performance metrics, and driving a high performance culture.
· Own and manage the customer pricing for certain segments of new and renewal employer group cases on Gravie’s proprietary products.
· Support and advance operational rigor such as KPIs reviews and action, audit process, limits of authority development, and risk reviews.
· Review underwriting case preparation work from analysts and initial underwriting as defined by guidelines and established authority limits. This includes suggesting additional analyses as necessary to accurately assess risk and recommend pricing for cases. In some instances, you will be required to roll up your sleeves to review and synthesize a variety of materials related to employer groups’ health plan performance as part of the underwriting review, as well as making recommendations to leadership.
· Learn the ins and outs of Gravie’s proprietary underwriting engine; add your experience and judgment when underwriting cases; and contribute to the improvement and evolution of Gravie’s underwriting practices.
· Work closely with Sales Operations, Actuarial, Finance, Clinical, Pharmacy, and Analytics to achieve financial and business goals
· Collaborate with Gravie’s third party vendors (for example: Gradient and AMS) as appropriate to optimize risk and underwriting efficiency.
· Work closely with Account Management on strategies and pricing to support the retention of existing customers, and with Sales to support the acquisition of new business customers.
· Play a key role in developing and refining the underwriting strategies, guidelines and tools to enhance the overall performance of the business and process as a member of the extended leadership team.
· Join a team of smart, hard-working, and devoted colleagues at a successful and growing startup.
· Be open to stretch and learn as company grows to support evolving priorities and contribute to shared success
You bring:
· Bachelor’s degree Business, Finance, Economics, Statistics, Mathematics, Insurance or other related majors.
· 5+ years of relevant group health underwriting management experience with specific focus on level funding arrangements and small group employers (0-500).
· Demonstrated ability to drive operational excellence through process and infrastructure to deliver results
· People management experience leading an underwriting team with a passion for coaching, developing, and inspiring a team.
· Strategic thinking that can continuously evolve the underwriting strategy and direction
· A risk optimization and portfolio management mindset
· Strong business, decision making, analytical and influencing skills
· Demonstrated commitment to core Gravie competencies of being authentic, curious, creative, empathetic and results oriented
Extra credit:
· Experience in scaling underwriting operations at a startup or high-growth organization.
· Masters degree or other related educational experience
· Experience in the 0-150 sized employer space
Gravie:
In order to transform health insurance and build a health plan everyone can love, we need talented people doing amazing work. In exchange, we offer a great overall employee experience with opportunities for career growth, meaningful mission-driven work, and an above average total rewards package.
The salary range for this position is $145,300 - $242,250 annually. Numerous factors including, but not limited to, educations, skills, work experience, certifications, etc. will be considered when determining compensation. In addition to base salary, this position is also eligible to participate in Gravie’s annual bonus program. Stock options may also be awarded as part of the compensation package.
Our unique benefits program is the gravy, i.e., the special sauce that sets our compensation package apart. In addition to standard health and wellness benefits, Gravie’s package includes alternative medicine coverage, flexible PTO, up to 16 weeks paid parental leave, paid holidays, a 401k program, cell phone reimbursement, transportation perks, education reimbursement, and 1 week of paid paw-ternity leave.
A Little More About Us:
· We know healthcare. Our company was founded and is still led by industry veterans who have started and grown several market-leading companies in the space.
· We have raised money from top tier investors who share the same long-term vision as we do of building an industry defining company that will endure over the long run. We are well capitalized.
· Our customers like us. Our revenue churn is in the low single digits, in an industry where greater than 20% churn is common.
· Our culture is unique. We tend to be non-hierarchical, merit-driven, opinionated but kind people who thrive working in a high-performance, fast-paced environment. People at Gravie care deeply about making a positive impact in the lives of the people we serve. We may not be the right place for everybody, but if you get energized by doing work every day that focuses on putting consumers at the front of the line, we could be a great place for you. It takes unique people and diverse perspectives to deliver our results. We encourage you to be your authentic self – we like you that way.