Workers’ Compensation Technical Specialist

General Search & Recruitement Published:
Location
Pittsburgh, PA
Category
Job ID
Job-1301

Description

Workers’ Compensation Technical Specialist

Pittsburgh, PA


Summary 


The Workers’ Compensation Technical Specialist establishes, implements and
assesses the effectiveness of best practices. This position will coach, train
and mentor internal and external stakeholders on guidelines, standards and
other technical matters. This individual will analyze quantitative and
qualitative business indicators and make technical decisions and
recommendations in accordance with delegated authority. 


Education and Experience: 
• A Bachelor’s degree from an accredited college or university is required.
Commensurate experience may be considered.  • A minimum of seven years
full-time or equivalent part-time paid underwriting experience with an
insurance carrier strongly preferred. A minimum of three of the seven years’
underwriting or management experience must be with a workers’ compensation or
property and casualty insurance carrier or equivalent workers’ compensation
program.  • Experience with project management preferred.  •
Professional insurance designations relevant to area of expertise desired.

 
Position Responsibilities: 
1. Provide technical subject matter expertise to strategic business teams and
other disciplines to support business plan objectives. This includes but is not
limited to policies, strategy and tactics, product development, business
services, filings, processes and workflows (including automation and business
rules), regulatory compliance and market conduct matters.  2. Perform
regular quality control and participate in quality audits.  3. Collaborate
as needed with senior management on larger, more complex accounts
requiring  special expertise.  4. Manage development projects –
including business requirements and timelines – that impact  coverage,
pricing, rating, systems logic, automation, and best practices.  5. Assist
in the development of pricing strategies from the individual risk to portfolio
levels using  models and methodologies to support a profitable and
competitive pricing approach to the market.  6. Develop and implement
strategic and tactical product and service development initiatives using 
trend monitoring, feedback from stakeholders and marketplace competitor
review.  7. Present to and train internal and external stakeholders on
products and services and their  associated processes, based on a solid understanding
of and impact to field constituents such as agents, underwriting, customer
service, marketing and policyholders. Develop appropriate supporting
materials.  8. Gather and analyze competitor product, service and pricing
intelligence (external) and product and service trends/results (internal) and
recommend new and revised products, processes and systems.  9. Create
innovative solutions as a result of competitor and internal trend analysis and
work with other disciplines to gather input regarding product and service
changes and ideas.  10. Develop internal guidelines, policies and
procedures that address business needs and support business objectives.
Determine internal systems impact due to process changes.  11. Investigate
compliance and regulatory issues and recommend appropriate business
solutions.  12. Assist in the development, use and maintenance of
Guaranteed Cost and Loss Sensitive WC  Policy Underwriting tools and Loss
Frequency and Severity Benchmarks.  13. Create and maintain other necessary
underwriting instructions and policy.  14. Non-essential function: other
duties as assigned. 
 
 
Skill Requirements: 
• Knowledge of policy and procedures regarding underwriting administration,
risk administration and classification, insurance and risk management,
accounting or business administration, premium audit or underwriting and loss
control.  • Ability to apply technical expertise and sound logic to
identify and analyze problems and implement effective underwriting
solutions.  • Demonstrate a solid understanding of compliance issues and
regulatory environment in project development and implementation.  •
Ability to use relevant information and individual judgment to determine
compliance with regulations or standards.  • Ability to collaborate
effectively with internal and external stakeholders. Ability to build and
maintain positive working relationships with policyholders and their
leadership.  • Superior understanding of the form and content of insurance
policies.  • Knowledge of cost rating plans and related pricing methods
and procedures, and ability to use this  information to determine and
calculate business exposures, classifications, experience or other rating plan
modifications. Understand credit risks in order to determine the appropriate
guaranteed cost coverage for each business.  • Ability to analyze and
evaluate specific complaints and inquiries regarding insurance contracts,
coverage, and rating plans.  • Ability to read and interpret financial
statements.  • Exceptional oral communication skills.  • Excellent
analytical, research, documentation and writing skills.  • Effective
organizational skills, including the ability to effectively manage multiple
projects.  • Demonstrate sound judgment and work independently or with
minimal direction.  • Knowledge of design, implementation and interfaces
of current systems and applications.  • Ability to apply confidentiality
when appropriate.  • Ability to interpret a variety of instructions
furnished in written, oral, diagram, or schedule form.  • Proficient in
Excel.