Underwriting Innovation Manager

2 days ago

Melbourne, Victoria, Australia MetLife Services and Solutions, LLC Full time
and Requirements

About the HSECi team

MetLife is a leading global life insurer, and the insurance partner for Hostplus, one of Australia's largest and fastest growing superannuation fund with over $100bn in assets and over 1.8 million members. MetLife have created a market-first service experience for Hostplus that delivers market-leading support and guidance for members for any insurance need they have, with a focus on first-point resolution and making sure the member's needs are taken care of from beginning to end.

Summary of Responsibilities:

As the Senior Underwriting Innovation Consultant within the HSECi team, you will play a pivotal role in driving enhancements across the life insurance value chain with the objective of increasing straight through processing and a seamless application experience. Your focus will be on identifying and implementing product, process, and system innovations that can contribute to key underwriting targets and strategic objectives. You will collaborate closely with cross-functional teams to develop innovative solutions, shape our strategic direction, and ensure Hostplus remains at the forefront of the superannuation industry.

Principal Responsibilities:
  • Lead the development and execution of innovative underwriting solutions tailored to the evolving needs of Hostplus members and the market.
  • Analyse and identify opportunities across product, underwriting, member engagement and technology to improve STP rates and simplify the underwriting experience for Hostplus members.
  • Drive innovation in MetLife's underwriting rules engine and application system to deliver greater STP across all member transactions.
  • Working with Underwriting Managers and other team members in the development and maintenance of team strategies for positive promotion of Hostplus' insurance offerings
  • Execute on initiatives and deliver changes to process, people and systems to deliver underwriting enhancements and realise benefits.
  • Identify emerging trends, technologies, and opportunities in the life insurance industry, assessing their potential impact on underwriting strategies for Hostplus and HSECi
  • Cultivate a culture of innovation within HSECi, promoting creativity, experimentation, and continual improvement.
  • Collaborate with underwriting and claims leadership to define and communicate the team's strategic vision and objectives.
  • Conduct strategic analyses, market assessments, and competitive intelligence to guide decision-making and resource allocation in underwriting initiatives.
  • Develop actionable strategic initiatives and roadmaps to drive business objectives and foster sustainable growth.
  • Conduct research with Hostplus members and internal/external stakeholders to identify enhancement opportunities.
  • Champion core growth and efficiencies through automation processes and effective business management in underwriting.
  • Proactively advise and shape Hostplus's response to emerging risks, trends, medical advancements, and regulatory shifts impacting underwriting.
  • Keeping up to date with regulatory and legislation changes, ensuring these are translated into underwriting best practice and monitored for adherence.
Knowledge/Skills/Competencies Required:
  • Strategic Vision: Ability to formulate and communicate a strategic vision for the underwriting function, anticipate industry trends, and develop innovative solutions to meet business challenges.
  • Change Leadership: Proven ability to drive and implement transformative initiatives in underwriting, challenge conventional methods, and foster a culture of innovation Skills in training and supporting staff through transitions.
  • Collaboration: Skilled in creating a positive work environment that emphasizes teamwork, performance, and professional growth. Capable of earning trust and respect through empathetic and effective leadership.
  • Accountability and Innovation: Strong sense of personal accountability for decisions and outcomes, with a readiness to challenge the status quo and embrace new ideas. The ability to innovate whilst balancing risk and compliance outcomes.
  • Analytical and Problem-Solving Skills: Proficient in analyzing complex information, identifying market trends, and deriving actionable insights. Proficient in the use of tolls such as Visio, Lucidchart or similar.
Data Analysis and interpretation: Strong quantitative skills to analyze process performance data. Strong capability to assess dependent risk factors from detailed data
  • Communication and Interpersonal Skills: Exceptional communication and interpersonal skills, able to influence stakeholders at all levels and convey complex ideas clearly and confidently.
  • Industry Expertise: Extensive experience in life insurance underwriting, with deep knowledge of underwriting principles and practices, and the ability to evaluate medical, financial, and other evidence.
  • Regulatory Knowledge: Comprehensive understanding of relevant legislation, regulations, and compliance requirements within the insurance industry.
  • Process Improvement: Ability to identify opportunities for process improvement, manage end-to-end business cycles efficiently, and implement best practices for quality outcomes. Experience in conducting user research (interviews, surveys, usability testing) and the ability to synthesize user feedback into actionable insights.
  • Project Management: Strong project management skills, capable of managing multiple priorities and fostering cross-functional collaboration.
Qualifications Required:

Essential
  • Minimum 5 years of life insurance underwriting experience across all risk products.
Desirable
  • Previous experience in underwriting rules engine enhancements.
  • Previous experience in product development.
  • Familiarity with project management methodologies (Agile, Lean, Six Sigma)
Key Business Relationships:
  • Internal
  • HSECi Underwriting and Member Services team members
  • HSECi Claims team members
  • Broader Operations team members and leadership
  • Product teams
  • Pricing teams
  • Distribution, Marketing and Actuarial teams
  • Legal and Compliance teams
  • External
  • Fund members
  • Reinsurers and Chief Medical Officers
  • Superannuation Trustees and Fund Administrators
  • Members of the life insurance industry
Benefits We Offer

Our benefits are designed to care for your holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer health care coverage for you and your family, insurance discounts for home, car, and pet protection, as well as parental leave. We also provide premium gym membership for you and your direct relatives, volunteer time off, discounts with specific universities, flexible Fridays, connectivity reimbursement, and much more

About MetLife

Recognized on Fortune magazine's list of the 2023 "World's Most Admired Companies", MetLife, through its subsidiaries and affiliates, is one of the world's leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.

Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we're inspired to transform the next century in financial services. At MetLife, it's #AllTogetherPossible . Join us

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