Insurance Underwriter
1 month ago
About the Role
We are seeking a highly skilled and motivated Underwriter I to join our team. As an Underwriter I, you will be responsible for evaluating and rating personal lines insurance risks, ensuring that our customers receive the best possible coverage.
Key Responsibilities
- Evaluate multiple products and their risk factors to determine risk acceptability and rating.
- Review and evaluate quotes, new applications, renewals, revisions, and cancellations to determine risk acceptability within current underwriting authority.
- Research and obtain additional information on risk if required, using technology and external data sources.
- Determine if risk is acceptable, needs modification, or should be declined based on analysis of all information pertinent to the risk and within the underwriter's authority.
- Calculate premiums, ensuring that appropriate rates are used and application discounts and surcharges are applied within established underwriting guidelines, applicable laws, and regulations.
- Negotiate with brokers as to the conditions, limitations, rates, and premiums to apply.
- Correspond with brokers and/or customers to request information and explain underwriting requirements and decisions.
- Collaborate with internal and external stakeholders to discuss risk acceptance and policy wording interpretation.
- Develop an understanding of policy wordings, conditions, limitations, rates, and premiums with a strong focus on customer needs.
- Maintain accurate records of decisions made and maintain completeness of policy data.
- Complete claim alerts, underwriter reviews, and perform other related duties as assigned.
- Mentor, provide direction, and review and approve the work of staff in less senior positions.
- Collaborate with loss prevention partners (internal and external) to measure risk acceptability and to improve risk.
- Demonstrate an understanding of existing and emerging industry and regional trends and market conditions and obtain additional information on risk if required.
- Identify improvements to processes, procedures, insurance products, and/or systems.
- Work within the department team collaboratively and support cross-departmental teams when required.
Requirements
- A two-year diploma from an accredited post-secondary education institution in a relevant field of study, such as Business, or defined equivalency.
- 1-3 years' experience in underwriting.
What We Offer
SGI offers a competitive salary range of $54,024.00 - $68,184.00 and a comprehensive benefits package.
How to Apply
As you prepare to submit your application, please highlight the achievements that demonstrate why you're a great candidate for this role.
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