Underwriter

6 months ago

Waterloo, Canada Ontario Teachers Insurance Plan (OTIP) Full time

Company Description

OTIP (Ontario Teachers Insurance Plan) is a member-focused, service-driven organization. We are committed to putting our people first by fostering a positive and inclusive work environment, providing a competitive total compensation package and investing in career development. Our team is currently looking for a:
**Underwriter**

**Job Description**:

- Evaluates risk factors in terms of financial standing, experience, value and condition of property. This includes reviewing the Notice to Underwriting requests form the property and casualty claims department, analyzing claims through post-claims underwriting and/or documenting the rationale for underwriting at renewal, and reviewing and processing MVR rejections and exceptions in accordance with established standards.
- Determines amount of insurance in force on risk and possibility of losses from catastrophe or excessive insurance.
- Uses rate books, tables, computer records and other resource materials to determine distribution of risks.
- Gathers information from insurance brokers and other insurance or inspection companies. This includes attending education workshops and courses, reviewing professional publications, establishing professional networks, benchmarking state-of-the-art practices, and participating in professional societies.
- Provides information and answers questions and requests. This includes quoting ratings, explaining company underwriting policies, approving risks that require binding authority as per Traders General in accordance with authority level, and maintaining the log of risks to be submitted to the service manager.
- Collects and analyzes information to resolve discrepancies.
- Determines insurance coverage and declines excessive risk. This includes decreasing policy values, specifying applicable exclusions and endorsements, and approving and activating new business policies.
- Prepares and disseminates underwriting updates to keep employees informed and responds to requests as required.
- Orders motor vehicle reports (MVR) as required for suspended renewal policies while adhering to Traders General manual.
- Organizes work, which includes reviewing and sorting incoming work for renewals, Notices to Underwriters and inspections, and initiating communications as required.
- Uses in-house software to track and submit weekly reports. Completes weekly reports to inform of any outstanding renewal dates, Notice to Underwriters and other incomplete work.
- Provides information to members and prepares correspondence for amendments to member policy including increase in deductibles, cancellations, etc.
- Provides back-up to the broker sales underwriter as required.
- There is no sales UW. Our UW’s do both sales and service for both OTIP and TW brokerages for all lines of business across Canada, excluding Quebec.
- Performs other duties within competence, as assigned.
- Completes/processes changes and cancellations on various company portals when it exceeds broker binding.
- Assist with complaints (C3) call queue
- Reviews all new business submissions for new sales reps (OTIP) to ensure accuracy and completion; providing coaching and support
- Receives new claims notices. Reviews, delegates tasks as required and and follows up to ensure repairs are completed in order to offer continuous insurance. Point of contact for CURO claims for after loss file review. Review loss for claim as well as continued eligibility.
- Point of contact for all incoming inquiries from underwriters of our carrier partners. Participates in carrier partner audits by providing pertinent information to the auditors, reviewing audit results, correcting any errors, providing brokerage recommendations, and communicating response to audit to carrier partners.
- Reviews all suspended Aviva/Traders personal lines renewals for OTIP and TW across Canada (excluding Quebec) to determine risk eligibility.

**Qualifications**:

- A RIBO licensce.
- A minimum of three five years’ experience in personal lines automobile and property insurance.(this is a requirement by Aviva/Traders)
- A college diploma or equivalent insurance industry designation.
- Post-secondary training in insurance-related courses such as CAIB, CIP
- Exceptional communication skills and the demonstrated ability to deal effectively with all levels of internal and external stakeholders.
- Superior time management, project management and organizational skills to manage competing priorities.
- The ability to communicate in French is considered an asset.

**Working Conditions**:

- General call centre environment.

Additional Information
**What we offer**:

- Competitive salary and bonus structure
- Industry-leading employer-paid group benefits that start on your first day
- Defined benefit pension plan
- 100% coverage of continuing education and licensing fees (including RIBO and AIC courses)
- Flexible work from home and hybrid options
- Opportunities for advancement
- OTIP and its grou

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