Renewal Rater Salary in Colorado - State Average

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Average Salary for Renewal Rater in Colorado - State Average

The average salary of a(n) Renewal Rater in Colorado - State Average is $65,613.

The average hourly rate of a(n) Renewal Rater in Colorado - State Average is $31.54.

The average bonus of a(n) Renewal Rater in Colorado - State Average is $2,270.00.

Job Description:

Obtains information and experience data necessary to accurately price the renewal of an insurance plan. Performs experience analysis and calculates required rates and factors. Recommends renewal action to the Underwriter. Typically requires a college degree in math, economics, or a related field and at least five years of underwriting experience. Disseminates final renewal action to appropriate sources. Evaluates case attributes and analyzes census and identified employee groups for rating and billing. Determines industry codes, determines rating method, and reviews rates for accuracy and past experience. Analyzes incurred claims and premium split between lines and classes of coverage. Reviews manual rates and statutory provisions. Calculates retention and adequacy for reserves. Provides Underwriter with manual rates as well as premium and loss ratio after verifying coverage with the agreement and plan document. Makes necessary adjustments to manual rating. Follows up on any rate or premium discrepancies. Less

Obtains information and experience data necessary to accurately price the renewal of an insurance plan. Performs experience analysis and calculates required rates and factors. Recommends renewal action to the Underwriter. Typically requires a college degree in math, economics, or a... More

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