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Wondering Where Your Underwriting Job Went?

Is the inward focus on underwriting on its way to being replaced by an outward focus on the customer experience? Maybe.

Should you be concerned about your underwriting job? Perhaps.

From Jay D'Aprile's blog "Insurance Industry Talent Tracks" here's how healthcare reform may affect your career in insurance underwriting:
"In the end, healthcare reform will force health insurance companies to compete on their ability to control costs and provide effective delivery of medical care. Health insurance carriers will have to refocus their business strategies away from underwriting “good business” to crafting strategies that instead rely on improving margins through implementing efficient network strategies, lowering administrative costs and creating strong customer service experiences. Unfortunately, for people in underwriting positions this does not add up to good news. Healthcare reform is going to eliminate the underwriting function in the health insurance industry. On the other hand, professionals that can help health insurance companies improve their margins will be in high demand. Network development executives that understand how to partner with doctors and hospitals and can design effective network strategies will be coveted by insurance carriers. Also, health insurance companies will focus on improving the “customer experience” to attract membership. Therefore, skills in information technology, claims and customer service/call centers management will be desired. Finally, finance executives and actuaries who focus on financial reporting, medical management and provider network evaluations will continue to be in high demand."
I don't wish unemployment on anyone. (Well, yes I do but that's another story.) Still, a renewed focus on improving the customer service experience is not the worst news I've ever heard.


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