Senior underwriter,

4 weeks ago

Old Toronto Ontario, CA SGI Full time

Do you value integrity and innovation? How about passion and caring? Great Us too, and that's why you'll fit right in. Our intentional culture promotes trust and participation, encouraging you to bring your heart and mind to work every day.

Work Location – Toronto East or West

Work Hours – Full Time Permanent. Hybrid work option.

Division – SGI Canada

Apply by: Sept 9, 2024

General Accountability

The successful candidate is responsible for establishing and maintaining relationships with assigned brokers and managing and growing a profitable book of commercial automobile business with emphasis on excellent service standards. Examines the nature and degree of risk involved, negotiates conditions, rates and premiums with brokers and explains SGI CANADA’s underwriting approach and logic to brokers. Delivers one view of commercial automobile underwriting that combines product, technology and services for our broker partners while attracting quality business to SGI CANADA. Provides functional supervision to less senior employees.

Key Accountabilities

Note: This section is not intended to be an exhaustive list of duties and responsibilities – other duties and responsibilities may be assigned.

Underwriting Activity (20%)

  • Reviews and evaluates new, renewal and mid-term changes for commercial automobile clients to determine the nature and degree of risk involved.

  • Acquires further information on applications (and the risks involved) when necessary.

  • Determines whether to accept or reject the risk, or accept the risk subject to certain conditions.

  • Ensures that risks are properly rated and classified according to corporate guidelines.

  • Makes timely decisions while considering territory, underwriting guidelines and approaches, pricing strategies and/or regulatory requirements.

  • Identifies and recommends improvements to insurance products, guidelines and/or systems.

  • Participates in the review and development of new products and procedures.

  • Tracks performance of assigned brokers to ensure risk quality and mix of business is consistent with expectations and takes appropriate action.

  • Reviews and approves requests that fall outside the authority levels of staff in less senior positions.

  • Participates in underwriting audits of the department or brokers.

Broker Relationship Management (20%)

  • Delivers one view of commercial automobile that combines product, technology and services for broker partners.

  • Acts as the brokers first point of contact and sees requests through to completion; becomes a trusted advisor for brokers.

  • Understands how assigned brokers operate and the technology they use and offers tailored approaches to deliver on the ease of doing business mandate.

  • Understands the underwriting operating system, workflows and process, broker portal and billing and trains brokers on how to work with us.

  • Explains underwriting criteria and decisions to brokers (verbally and/or in writing).

  • Develops and maintains working relationships with brokers to generate a flow of profitable business and provides assistance in resolving any service matters.

  • Consults with and visits brokers to discuss underwriting issues and build relationships.

  • Gathers market intelligence and keeps regional and head office management aware of emerging trends or changes.

  • Collaborates with the Business Development team to ensure we deliver a coordinated and well-organized experience to our brokers.

  • Provides training to brokers on products, guidelines, procedures and technology including conducting formal presentations.

Production and Service (20%)

  • Meets growth targets for assigned brokers as outlined in the annual plan while meeting underwriting quality of risk requirements.

  • Promotes and sells supporting products to brokers with an emphasis on meeting customer needs.

  • Negotiates with brokers as to the conditions, limitations, rates and premiums to apply with a strong focus on customer needs.

  • Tracks production of assigned brokers to ensure premium targets are being achieved; takes appropriate action as necessary.

  • Meets target service levels for assigned brokers with respect to transactions, returning phone calls and responding to emails.

  • Identifies opportunities for improving workflows and processes to improve the customer and broker experience; participates in initiatives to deliver improvements.

  • Participates in identifying book roll-over opportunities and ensuring the transition of the portfolio is effective.

Policy Processing (10%)

  • Processes new/renewal applications, revisions, cancellations and quotes.

  • Calculates premiums, ensuring that appropriate rates are used, and that applicable discounts and surcharges are applied.

Functional Supervision (Intermediate & Junior Underwriters) (10%)

  • Acts as a resource and provides support, guidance, advice and direction.

  • Delegates and ensures the quality of work.

  • Trains, mentors and coaches.

Leadership (10%)

  • Actively contributes to and supports a culture of high performing workforce.

  • Participates in divisional succession plans, ensuring ongoing professional and career development and supports development in others.

  • Supports a culture of leadership and accountability to effectively deliver on strategic and corporate strategies.

  • Is actively committed to leadership development across the company, supporting team and workforce readiness through mentoring, training and developmental opportunities.

Corporate Management (10%)

  • Enables the success of programs and policies that are in alignment with corporate, strategic and divisional strategies.

  • Manages risk in area of authority.

  • Ensures that the Health, Safety and Emergency Management Policy is applied in area of responsibility.

Education and Experience

  • A two-year diploma from an accredited post-secondary education institution in a relevant field of study such as Business.

  • 5 – 7 years’ experience in commercial automobile underwriting.

Knowledge, Skills and Abilities

  • Knowledge of the principles and practice of insurance, underwriting policies and procedures and applicable insurance products.

  • Knowledge of market conditions and industry participants (competitor’s activities, broker relationships, legislation and regulatory environment).

  • Knowledge of the applicable regulatory environment.

  • Knowledge of premiums, coverages, deductibles, billing practices for applicable products.

  • Knowledge of systems and technology commonly used to support applicable products.

  • Knowledge of operating systems, workflow and processes with the ability to apply this knowledge and handle a large portfolio of business and deliver outstanding service for assigned brokers.

  • Ability to build and maintain effective working relationships with internal and external partners.

Posting Close Date: September 9, 2024

As you prepare to submit your application, and cover letter if applicable, please highlight the achievements that demonstrate why you're a great candidate for this role.

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