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Inside Broker, Healthcare & Medical Malpractice
Career Insights for Medical Underwriter
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Scorecard
Based on Illinois data
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What they do
A Medical Underwriter uses medical and health information to evaluate an application for medical malpractice insurance or for health insurance. Medical malpractice insurance is essentially medical professional liability insurance for medical professionals. For health insurance, the underwriter reviews insurance documents to determine whether an offer of health insurance should be made, identifies and excludes pre-existing medical conditions, determine insurance types and limits, and calculate premium costs.
$95,766 / year median in Illinois
-1% projected decline
Job Description
Location:
This role will work 4 days in the office, Mon-Thurs and one day work from home. Our Chicago office is located at 540 W Madison Ave, 9th Floor Chicago, IL) What will your job entail? Key Responsibilities Risk Analysis & Placement Review and evaluate healthcare and medical malpractice submissions to identify exposures, coverage needs, and placement opportunities. Analyze complex risks and develop strategic placement approaches for healthcare-related accounts. Market submissions to carrier partners and identify the most appropriate insurance markets based on coverage requirements and underwriting appetite. Negotiate pricing, coverage terms, conditions, and program structures with insurance carriers. Present coverage options and placement recommendations to brokers and retail agency partners. Ensure the successful placement and binding of new and renewal business. Broker & Client Relationship Management Serve as a trusted resource to brokers, retail agents, and carrier partners throughout the placement process. Build and maintain strong relationships with insurance markets and agency partners. Collaborate with producers and senior brokers to develop placement strategies that support client retention and growth. Respond promptly to client, broker, and carrier inquiries while delivering a high level of service. Portfolio Management & Growth Support the management and retention of a large Healthcare and Medical Malpractice Liability portfolio. Identify opportunities to expand relationships, improve account outcomes, and support business growth. Monitor market conditions, coverage trends, and emerging risks impacting healthcare organizations and medical professionals. Contribute to the continued growth and profitability of the Healthcare Practice. Operations & Documentation Maintain complete and accurate account documentation throughout the policy lifecycle. Ensure compliance with carrier requirements, regulatory guidelines, and internal brokerage procedures. Utilize internal systems and technology platforms to manage submissions, documentation, and workflow processes. Participate in ongoing professional development, licensing, and technical training opportunities. Lines of Business The Healthcare Practice focuses on placements including: Medical Malpractice Liability Healthcare Professional Liability Allied Healthcare Professional Liability Miscellaneous Medical Professional Liability Physicians & Surgeons Professional Liability Hospitals and Healthcare Facilities Long-Term Care Facilities Senior Living Organizations Behavioral Health Risks Managed Care Organizations Healthcare Services Organizations Required Qualifications Active Property & Casualty (P&C) License. 5+ years of Commercial Insurance experience. Experience evaluating, marketing, placing, or servicing commercial insurance accounts. Strong understanding of insurance coverage concepts, risk analysis, and policy structure. Excellent negotiation, communication, and relationship-building skills. Ability to manage multiple priorities and deadlines in a fast-paced brokerage environment. Proficiency with Microsoft Office applications. Strong analytical and problem-solving abilities. Preferred Qualifications Experience within a wholesale insurance brokerage environment. Experience placing or underwriting Healthcare Liability, Medical Malpractice, Professional Liability, or other specialty casualty lines. Existing relationships with healthcare-focused carrier markets. Experience analyzing complex healthcare risks and developing market placement strategies. Knowledge of wholesale brokerage operations and carrier marketing processes. Experience utilizing ImageRight, AIM, or similar insurance management systems. Bachelor's degree preferred. Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment. How We Support Our Teammates Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more. The target salary range for this position is $88,000.00 - $110,000.00 annually. The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/. We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.Benefits
- Paid Time Off (PTO)
- Personal Leave
- Professional Development
- Dental Insurance