Benefit Analyst

Company: Brown & Brown, Inc.
Location: Grand Rapids
Posted on: January 26, 2023

Job Description:

Built on meritocracy, our unique company culture rewards self-starters and those who are committed to doing what is best for our customers.WHAT YOU'LL DO:Track all renewals, schedule potential marketing activity, and coordinate with Account Manager and ProducerPrepare analyses in accordance with client service calendar financial meetings (e.g., post renewal, mid-year review, pre-renewal, renewal). Analyses may include but are not limited to:Market review analysisRenewal rate and funding projections and modelingAnalysis of claims utilizationRate and contribution analysisBenchmarkingFinancial funding analysis (e.g., fully insured vs self-funded)IBNR and claims lag analysisReview and interpret data to develop alternative strategies, plan modeling and cost reduction opportunities.Technical analysis of group insurance contracts and financial arrangements.Request applicable claims reports.Consult with Account Manager and Producer on a quoting or negotiation strategy. If quoting is appropriate - contribute to decisions on benefit designs and which carriers to quote.Agree on a timeline with Account Manager and Producer for everything involving the marketing process and monitor closely. Maintain constant communication with the Account Manager and Producer regarding progress and keep them informed if the process is off track.Prepare a census template and a complete list of other information needed from client for the quoting process.The assigned Account Manager or Account Coordinator is responsible to collect all of the information needed to complete quote requests, but the Benefit Analyst is responsible to recast or reformat the information to accommodate carrier requirements.Assemble and distribute RFQ to carriers.Negotiate with incumbent and other carriers to achieve maximum value for client.Review renewal offers and quotes with Producer, agree what will be shown to client and prepare presentation.Responsible for the financial analytics for clients that are over 100 lives, as well as those that are self-funded and level funded.Act as a resource for Producer to develop strategic plans and solutions for clients and prospects. Have occasional client facing contact pertaining to financial deliverables. May attend client meetings and present reports.Develop and maintain good working relationships with our core carrier partners.WHAT YOU'LL NEED:REQUIRED:High school graduate or GED. Must hold state insurance license or be willing to obtain one within 6-months of hireAbility to work in a fast paced environment independently and with a high degree of accuracy and attention to detail Strong written, oral and interpersonal communication skills 2 years of experience or equivalent education in mathematics, analytics, medical, or insurancePreferred:College degree in mathematics or financial-related field, or related business experience preferred.2-4 years of experience in health care analytics with an insurer or broker2-4 years of experience with self-funded medical plansWHAT WE OFFER:Excellent growth and advancement opportunitiesCompetitive pay based on experiencePaid Time OffGenerous benefits package: health, dental, vision, 401(k), etc.Employee Stock Purchase PlanWe are an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.

Keywords: Brown & Brown, Inc., Grand Rapids , Benefit Analyst, Professions , Grand Rapids, Michigan