Job Description
Title: Commercial Underwriter / Senior Underwriter
Location: Downtown Toronto (Hybrid, 2 days in the office)
PURPOSE:
The Underwriter is responsible for underwriting and servicing moderately complex accounts in accordance with established guidelines and business objectives in the achievement of national standards for data quality and service levels.
KEY ACCOUNTABILITIES:
- Responsible for the successful evaluation, selection, negotiation, and pricing for assigned policies in order to ensure a profitable book of business within established underwriting authority.
- Execute individual pricing and risk selection decisions within the assigned underwriting authority and in accordance with corporate guidelines for correct pricing techniques.
- Refer and redirect requests for pricing decision and risk selection for risks beyond personal authority, along with recommendations.
- Complete data entry of policy information to ensure timeliness of transactions.
- Ensure endorsements, renewals, reissues, and cancellations are reviewed and analyzed in accordance with corporate standards and guidelines.
- Assist in achieving renewal rate and exposure and rate adequacy guidelines.
- Analyze new business for risk profitability with guidance from a more senior underwriter by assessing exposures and hazards as determined by review of underwriting data.
- Develop and maintain a professional relationship with brokers and/or customers to enhance understanding of the target market and to contribute to quality service, problem solving, and risk selection.
- Understand and adhere to service standards in accordance with company guidelines.
- Maintain knowledge of industry trends, developments, and regulatory changes including competitive analysis and information, and ensure all necessary broker management systems are updated and current.
- Collaborate with brokers and customers to assist in business retention and customer satisfaction through regular interactions.
- Investigate customers’ risk factors relative to corporate pricing approach to gain support, agreement and enhance relationships.
- Participate in the communication and education of brokers concerning the corporate underwriting philosophy, policies, and procedures as required.
- Understand and apply best business practices towards compliance, internal control and operational risk controls in accordance with national standards and regulatory standards and policies.
- Monitor trends and developments identifying areas of concern regarding loss ratios, risk trends, or other discrepancies.
- Assist in the price monitoring, risk selection and data quality performance reviews.
SKILL/BEHAVIOUR REQUIREMENTS:
- Demonstrated proficiency at managing multiple, changing priorities/projects, and delivering results.
- Demonstrated verbal and written communication skills.
- Demonstrated presentation skills.
- Demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives.
- Ability to foster and build good long-term working relationships with brokers, customers, and business areas inside and outside the work unit.
- Ability to focus on the broker and customer needs, ensuring a high quality of service is provided.
- Able to work with long-term perspective in addressing broker or business area problems/issues.
- Ability to work independently and to commit to high standards of performance and goals.
- Strong analytical and decision-making skills.
- Demonstrated commitment to ongoing professional and technical development.
QUALIFICATIONS:
- Post-secondary school education and/or equivalent job experience.
- 5 to 10-year experience in the property and casualty insurance industry (commercial)
- Working knowledge of company underwriting philosophy, policy contracts, rating programs, risk information sources, underwriting/technical manual information, statuary constraints, and computer workflow procedures.
- Ability to work within and adapt to PC oriented environments. Working knowledge of Microsoft Office.
- Actively pursuing CIP/FCIP designation
- Fluent in French, English is a definite asset.
DGA Careers has been proudly serving the Canadian insurance industry for over 30 years, specializing in providing insurance recruiting services to major insurers, insurance brokerage firms and independent adjusting firms. With offices in Toronto, Vancouver, Montreal, Edmonton, and Calgary, DGA Careers is well positioned to conduct searches with a national scope. Our unrivalled professional network across Canada provides us with the ability to reach vital key influencers and passive candidates nationally.