Analyst, Underwriting

Munich Re; Toronto; Hybrid; CAD 55,000 - 71,000; Full time

Benefits offered by this job

Hybrid work environment

Education Assistance Programs

Pension

Job summary

Munich Re Canada is seeking an Underwriting Analyst to join a collaborative team. You will support underwriters by preparing data for pricing tools and processing new business, endorsements and renewals with accuracy and attention to detail.

The role emphasizes MS Office and Excel proficiency, data analysis, and effective communication with internal and global stakeholders. A hybrid work model applies in Toronto with a base salary and potential bonus.

Qualifications

• Post-secondary education in insurance, business or accounting preferred.
• Two years insurance or finance experience preferred.
• Excellent interpersonal, communication, organizational and time management skills.
• Strong Excel skills for large data sets.

Responsibilities

• Assist underwriters in data preparation for rating tools.
• Process new business, endorsements and renewals per standards.
• Set up electronic folders for submissions and renewals.
• Clear and match incoming mail to files in the underwriting system.
• Request missing information and ensure data accuracy (four eyes principle).
• Issue FAC certificates and insurance policies for signing.
• Generate status reports and prepare renewals.
• Submit billing data to accounting and reconcile discrepancies.
• Analyze data sets to evaluate submissions and support underwriting decisions.
• Engage with underwriters and leadership; suggest process improvements.

Skills

Excel

MS Office

Interpersonal skills

Communication skills

Analytical thinking

Teamwork

Time management

English fluency

Attention to detail

Education

College/University degree in insurance, business or accounting

CIP designation or progression

Tools

Excel with large data sets

Underwriting systems (general)

Job description

Underwriting Analyst

We care for humankind - and that starts with our people Our greatest strength lies not in what we do - but how we do it. It's the unique individual behind every piece of work who matters the most. Our people make Munich Re a global success. Working at Munich Re gives us access to the depth, breadth, and mindset we want in order to develop our full potential. That's why a career at Munich Re is much more than just a job. It's an invitation to be your very best and make a positive impact on the world.

Underwriting Analyst We care for humankind - and that starts with our people Our greatest strength lies not in what we do - but how we do it. It's the unique individual behind every piece of work who matters the most. Our people make Munich Re a global success. Working at Munich Re gives us access to the depth, breadth, and mindset we want in order to develop our full potential. That's why a career at Munich Re is much more than just a job. It's an invitation to be your very best and make a positive impact on the world.

Overview

Do you enjoy building relationships and working collaboratively in a team environment with both internal, external and global stakeholders? Do you possess strong analytical and investigative competencies? As someone with excellent communication skills and business acumen, you will utilize exceptional interpersonal and influencing skills across all levels of the organization.

We're looking for our next Underwriting Analyst. Could It Be You?

You have your Post-secondary education as well as your Chartered Insurance Professional (CIP) designation or progression towards the designation is an asset. In addition, you ideally have some insurance or finance experience as well as strong MS Office skills, particularly working with large data sets in Excel.

Your primary responsibility will be to perform a variety of technical, administrative, and accounting duties necessary for the efficient operation of MR F&C in Canada.

Need more details? Keep reading...

• You will assist underwriters in preparing and organizing data for entry into single risk pricing tools for rating purposes.
• You will be responsible to clear, review and enter new business, endorsements and renewals for the underwriters within the established standards, including:
• Setting up folders electronically for submissions, new and renewal business, and endorsements
• Clearing any incoming mail/emails in the underwriting system, and matching them up the appropriate file(s).
• Requesting information and following up for any missing information.
• You will review the underwriter's and peers' system entries to ensure accuracy of the information (four eye principle). Discrepancies are to be brought to the appropriate parties attention for correction.
• You will be responsible for issuing various insurance documents including FAC certificates and insurance policies for underwriters to sign.
• You will generate status reports as required.
• You will also be responsible for the preparation of renewals and the production of correspondence to emails to clients.
• You will submit billing and payment information to accounting for client invoicing, reconcile billing and payment discrepancies to support the accounting unit; you will also file policy correspondence on a daily basis into the Electronic Filing System.
• You will be responsible for analyzing data sets for the purpose of evaluating new and existing business submissions.
• You will engage with MR F&C underwriters and leadership team
• You have the ability to suggest process improvements to drive efficiency for underwriting group, and provide coaching and training to peers as needed
• You may participate in global or local projects as assigned

So are YOU our next Contract Underwriting Analyst? You are if...

• You have a college/university degree with emphasis in insurance, business or accounting preferred.
• You ideally have two years of prior insurance or finance experience, as well of knowledge of and experience with relevant legislation and regulation; ideally your background features an emphasis on regulatory, re/insurance, corporate, or transactional experience.
• You have excellent interpersonal, communication, organizational, and time management skills with a demonstrated attention to detail and an eye for accuracy.
• You have exceptional computer skills including Microsoft Office, particularly, a strong Excel skillset specifically working with large data sets.
• You have exceptional analytical and investigative competencies as well as a high degree of drive, self-motivation, continuing development and proven ability to work independently.
• You have the ability to work on a small team, work collaboratively, and build strong relationships with your colleagues.
• You have a high degree of flexibility and adaptability to changing environments with an ability to work independently and function well under pressure.
• You have demonstrated fluency in English; fluency in French (oral and written) is an asset.
• A working knowledge of primary and/or reinsurance underwriting process and coverage is preferred.
• A working knowledge of pricing models, insurance policies and reinsurance contracts for property/casualty is preferred.

In addition to an exciting job opportunity, we offer the following...

• You will be exposed to challenging projects and development opportunities to grow your skills and career with both local and global colleagues and partners.
• A comprehensive total rewards financial program which includes extensive flexible benefits and pension.
• A hybrid work environment in an inspiring physical workplace setting.
• Educational Assistance Programs that continue to recognize your on-going success.

Munich Re Canada is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. Accommodations will be made for qualified applicants with a disability throughout the recruitment process. If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact [e-mail] as soon as practical so that suitable accommodations can be arranged. Our base salary range for this role is between $55,000 and $71,000 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity. This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model which requires a 3 day in-office commitment. This job posting is for an existing vacancy. We do not use AI in our recruitment process - applications are reviewed and evaluated by our team to ensure a fair and personalized experience.