Reporting to the Manager, Group Underwriting & Contracts Administration, the Group Contract Analyst is responsible for five distinct areas.
This position exists within the structure of our Special Markets Solutions (Solutions) division. Solutions strives to provide responsive and creative insurance solutions to match the needs of specialised and unique groups. Reporting to the Manager, Group Underwriting & Contracts Administration, the Group Contract Analyst is responsible for five distinct areas as outlined below:
1. Proposal Stage (25%)
For routine new cases, the Group Contract Analyst will prepare and issue proposals, in accordance with the requested external deadline and within the Solutions 3-day turn-around commitment. For non-standard cases and take-over cases, the Group Contract Analyst will conduct an in-depth analysis of current insurance coverage and prepare a report for review by Manager, Actuarial, and Marketing as required. All proposals are to incorporate applicable product features, premium rates, marketing plans and administration requirements.
2. New Business Implementation Stage (20%)
The Group Contract Analyst will organise, plan and attend all new business implementation meetings as needed. They will identify and communicate any questions or missing information, along with confirmation of timelines set out by the client and the Account Executive. The Group Contract Analyst is responsible for communicating with various departments and teams to obtain required documents and information by e-mail/phone/in-person meetings. The Group Contract Analyst will work with high complexity group insurance plans of which 90% to 95% are non-standard benefits that need customisation.
3. Contractual Documents (15%)
The Group Contract Analyst is responsible for creating and issuing all contractual documents related to the policy. They will analyse the group-specific benefits, product features, special administration requirements, etc. in order to determine which contract and insurance benefits summary templates should be used. This is then analysed, reviewed, and modified as necessary to create the Master Group Policy contract and Insurance Benefits Summary (IBS).
4. Renewals & Contract Changes (25%)
The Group Contract Analyst is responsible for processing the annual renewal and any policy changes that take place during the policy year. For renewals, the Group Contract Analyst conducts a renewal analysis which involves recalculating premium rates, gathering premium and claim experience information, providing notice of required system updates, and preparing a formal summary of renewal recommendations and policy statistics. The Group Contract Analyst is responsible for analysing and implementing all contract changes requested by the client.
5. Marketing Support (15%)
The Group Contract Analyst is responsible for collaborating with Marketing to ensure all necessary marketing materials are created, updated, and reviewed as required. This includes reviewing and providing final sign-off on the IBS, websites, brochures, campaign briefs, rates, eligibility, and many other group-specific details. The Group Contract Analyst must ensure marketing materials comply with policy-specific contract provisions, administration and underwriting requirements, company guidelines and applicable legislation.
-university degree or diploma PLUS two years of Group Insurance work experience
-in the absence of a university degree, four to five years of Group Insurance experience
-FLMI courses 280 and 290 from LOMA
-strong knowledge of group new business, contracts, underwriting and claims processes is necessary
• bilingualism (English/French)
• intermediate level Word and Excel
• excellent communication skills by phone/written correspondence/email
• strong organisational skills with a proven ability to handle multiple tasks, meet deadlines and work independently with minimal supervision
• analytical skills and attention to quality/detail
• ability to multi task and manage a high volume of complex, diverse functions
• team player with the ability to work and communicate with various departments