Underwriter, Cyber Risk

Travelers; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading financial services company in Toronto is searching for an Account Executive to join their dynamic team in Underwriting. This role involves managing an assigned book of business, underwriting, and negotiating customer accounts, primarily focusing on cyber risk insurance. Ideal candidates will have a Bachelor's degree and 3-5 years of underwriting experience. Competitive benefits include health insurance from day one, a robust retirement plan, and generous PTO policies.

Benefits

Health Insurance

Retirement Plan

Paid Time Off

Wellness Program

Volunteer Encouragement

Qualifications

• Three to five years of applicable underwriting experience.
• Working knowledge of products, regulatory environment, and local market conditions.
• Communication skills with the ability to negotiate successfully.

Responsibilities

• Manage profitability, growth, and retention of an assigned book of business.
• Underwrite and negotiate customer accounts to minimize risk.
• Cultivate relationships with agents and brokers.

Skills

Negotiation

Critical Thinking

Relationship Building

Education

Bachelor’s degree

Job description

Who Are We?

Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Category

Underwriting

Target Openings

What Is the Opportunity?

Bond & Specialty Insurance provides management and professional liability insurance, as well as surety bonds to businesses and non-profit organizations of all sizes. As an underwriter, you will have a dynamic role that blends evaluating and analyzing financial and business risk, building relationships, and selling and negotiating with clients, agents, and brokers. This role is part of the National Cyber Practice team which provides financial and reputational protection for companies that have experienced cyber-attacks, cyber-extortion, security breaches and / or regulatory actions and lawsuits in relation to their cyber security. Team members work in a fast-paced environment that analyzes complex data related to cyber security, privacy and regulatory compliance, industry and economic exposures and financial performance. The underwriting process may involve client meetings with senior management and / or Chief Information Security Officers (CISOs) and interaction with the Traveler's Cyber Risk Control team. Underwriters will work with Publicly traded corporations, Financial Institutions and Private and Non-Profit entities. Coverages include Cyber Risk Insurance and Errors & Omissions Liability coverage. The Account Executive (AE) will build and maintain relationships with agents and brokers to provide insurance or surety solutions to customers. An AE will analyze and evaluate risk to achieve business goals within an assigned book of business. As an AE, you are decisive, detail-oriented, and know how to build relationships internally and externally to drive results. Your ability to assess risk and sell our products will contribute to the profitability and success of Travelers.

What Will You Do?

• Manage the profitability, growth, and retention of an assigned book of business.
• Underwrite and skillfully negotiate customer accounts to minimize risk and maximize profitability.
• Execute business unit underwriting strategies across your book of business to achieve profit and growth objectives.
• Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities.
• Foster and maintain relationships with external partners by regularly meeting in person with agents and brokers to market and sell Travelers products with a goal of writing and retaining accounts consistent with our risk appetite. Must be able to travel to such meetings.
• Identify and capture new business opportunities using consultative marketing and sales skills.
• Develop and execute individual agency sales plans that align with the team’s sales plans to drive success.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

Bachelor’s degree.

Three to five years of applicable underwriting experience.

Working knowledge of products, the regulatory environment, and local market conditions.

Strong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyze available information to make decisions in alignment with our risk appetite.

Communication skills with the ability to successfully negotiate with agents and brokers.

What is a Must Have?

Two years of underwriting, product knowledge, financial analysis, or risk assessment experience.

What Is in It for You?

Health Insurance : Employees and their eligible family members – including spouses, partners, and children – are eligible for coverage from the first day of employment.

Retirement : Travelers provides a core contribution of 3% of your total eligible earnings to your Deferred Profit Sharing Plan (“DPSP”). Travelers also matches your savings plan contribution dollar-for-dollar up to 5% of base pay.

Paid Time Off : Start your career at Travelers with a minimum of 20 days Paid Time Off (“PTO”) annually, plus the opportunity to purchase additional days to allow for up to a total of 36 PTO days per year. You will also receive twelve paid company Holidays.

Wellness Program : The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.

Volunteer Encouragement : We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.

We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.