Underwriter, Group

Co-operators Career; Canada; Hybrid; CAD 50,000 - 84,000; Full time

Benefits offered by this job

Training and development

Flexible work options

Total rewards package

Job summary

CLIC is seeking a Group Underwriter to join our Canadian team. The role analyzes risk, sets renewal rates, and ensures profitable group insurance while delivering exceptional client service in a hybrid environment (2 days in office).

You will work with sales and internal partners to determine premiums, expenses, commissions, and policy provisions for new and existing business. Completion of post-secondary education with two years of related experience is required, and familiarity with CEBS or

Qualifications

• Completion of post secondary education with two years of related work experience.
• Working towards CEBS or LOMA designation.
• Thorough knowledge of group insurance products and pricing.

Responsibilities

• Analyze, prepare and calculate renewal rates for pooled financial arrangements.
• Calculate renewal rates and review premiums, expenses, commissions and policy provisions.
• Validate rates based on current rates, experience, plan design and demographics.
• Act as a resource for sales and internal departments to resolve underwriting issues.

Skills

Critical thinking

Communication

Team player

Education

Post-secondary education

CEBS or LOMA designation (in progress)

Job description

Company: CLIC
Department: Underwriting
Employment Type: Regular Full-Time
Work Model: Hybrid (2 days in office)
Language: This role operates in English.
Additional Information: This/these role(s) is/are currently vacant

The Opportunity:

We are a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society and our team is essential to deliver on this strategy. That’s why we prioritize our people, to ensure we provide a strong culture and development opportunities which enables our team to thrive and to live our purpose. The best part is that you will work with people that care passionately about you, our clients and our communities.

The Group Underwriter assesses risk and analyzes the overall composition of a group, in order to establish and approve premium rates, expenses, commissions and policy provisions for new and existing business, assuring the total risk is not excessive for groups with pooled financial accounting arrangements. This position works in a team environment to maintain profitable group insurance and to provide superior external and internal customer service.

How you will create impact:

• Analyze, prepare and calculate renewal rates for pooled financial arrangements within the assigned portfolio using manual and experience rating methods to retain business and contribute to the profitability of group insurance. Portfolio may include small stand alone and broker blocks, TPAs and agent accounts.
• Analyze premiums, claims, experience rating methodology, demographic changes, trends, legislative changes, guidelines, pricing strategies, policy provisions & expenses in order to calculate appropriate renewal rates.
• Calculate and using sound judgement determine the appropriate renewal premium rates, expenses, commissions and policy provisions considering pertinent facts, information, policies legislative changes and guidelines to comply with corporate retention, profitability and adequacy levels.
• Analyze, calculate competitive pricing and release new business quotes for pooled financial arrangements within the assigned portfolio using manual and experience rating methods to acquire business and contribute to the profitability of group insurance.
• Portfolio may include small stand alone and broker blocks, TPAs and agent accounts.
• Review the quote information, determine if coverage falls within the underwriting guidelines and established procedures and system capabilities or if an alternative approach may be applied.
• Determine the appropriate premium rates, expenses, commissions and policy provisions considering pertinent facts, information, policies legislative requirements and guidelines to make timely rating decisions while identifying all deviations.
• Validate rates to ensure they are reasonable based on current rates, experience, plan design, industry and demographics of the group.
• Acts as a resource for sales, internal departments clients and peers for resolving underwriting issues on assigned portfolio.

To join our team:

• Completion of post secondary education with two years of related work experience.
• Working towards CEBS or LOMA designation.
• Thorough knowledge of group insurance products as well as pricing for each product.

How you will succeed:

• You influence change and are committed to continuous improvement, in order to exceed client expectations.
• You leverage critical thinking skills to identify problems and proactively propose solutions.
• Your strong communication skills allow you to clearly convey messages.
• You’re an effective team player who shares knowledge to support our peers.

What you need to know:

• You will be subject to a Background check as a condition of employment, in the event you are the successful candidate.

What’s in it for you?

• Training and development opportunities to grow your career.
• Flexible work options and paid time off to support your personal and family needs.
• A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
• Paid volunteer days to give back to your community.
• In addition to our competitive salary and incentive programs, eligible employees also benefit from a comprehensive total rewards package including group retirement savings plans, pension and benefits (e.g., health and wellness, dental, disability and life coverage), mental health support and an employee assistance program.

Expected salary range $50,280 - $83,800

The salary amount for the successful candidate is determined by Co-operators in its discretion and will vary depending on several criteria including but not limited to: local market conditions, geography and relevant job-related factors such as knowledge, skills, qualification, experience and education.

Employees may also have the opportunity to participate in incentive programs and earn additional compensation tied to individual and/or business performance, or other business metrics.