Underwriter, IRCA

Starr Underwriting; Toronto; On-site; CAD 50,000 - 93,000; Full time

Job summary

A leading company in the Commercial Insurance sector is seeking an IRCA Underwriter in Toronto. In this role, you will assess risks for Commercial Auto Insurance, manage broker relationships, and ensure exceptional customer service. This dynamic position offers a competitive salary and the opportunity to contribute to the growth of the insurance business.

Qualifications

• Service-oriented with a positive attitude.
• Ability to handle difficult conversations professionally.
• Accountability in providing resolutions.

Responsibilities

• Assesses risks and accepts, declines, or amends broker referrals.
• Provides exceptional service to brokers and manages inquiries.
• Orders and analyzes inspection and financial reports for risk assessment.

Skills

Excellent communication

Motivation

Problem-solving

Listening

Empathy

Accountability

Tools

Guidewire

Job description

The IRCA Underwriter contributes to the profitable growth of the Commercial Insurance business by executing underwriting processes and services that meet or exceed brokers' needs and expectations for Individually Rated Commercial Auto (IRCA). Reporting to the Team Leader, IRCA, they are responsible for the selection and proper rating of IRCA Commercial Auto Insurance transaction types (e.g., applications, endorsements, renewals, cancellations, voids, reinstatements). They are also accountable for evaluating and approving risks related to Commercial Auto IRCA Insurance policies.

Within established underwriting rules and service levels, the incumbents escalate market intelligence and work with their Team Leader and peers to drive strong performance against service level agreements, individual sales performance targets, productivity levels, profitability targets, and key performance indicators (KPIs).

What to expect

Underwriting

• Assesses risks and accepts, declines, or amends broker referrals for new business submissions, policy endorsements, renewals, etc.
• Leverages tools, resources, and reports to evaluate risks and make effective underwriting decisions.
• Applies underwriting judgment, guided by senior staff and their Team Leader, to process risks in accordance with corporate policies, underwriting guidelines, SOPs, and segmentation strategies.
• Builds understanding of rating structures, coverage forms, terms, conditions, and wordings; applies these with guidance.
• Knows when to leverage underwriting technicians and when to escalate issues to senior stakeholders.

Customer Experience

• Focuses on relationship building and provides exceptional service to brokers.
• Acts as a point of contact for inquiries related to Commercial Auto Insurance.
• Routes/escalates inquiries to appropriate internal contacts for resolution.
• Contacts brokers for additional information, communicates risk acceptances, terms, declines, and follow-ups.
• Addresses service issues and data quality concerns proactively and documents interactions thoroughly.

System Expertise

• Manages transactions within the policy case management system effectively.
• Demonstrates understanding of system functionalities and follows procedures for document management.
• Uses SharePoint for accessing materials and contributing to continuous improvement opportunities.

Escalation Initiation

• Documents and refers inquiries requiring escalation to the appropriate team.
• Escalates inquiries to key contacts when necessary.

Accessing Third Party Data

• Orders and analyzes inspection reports, financial reports, analytics tools, and other underwriting information to assess risks effectively.

What you bring

• Service-oriented with a positive, helpful attitude.
• Excellent communication, motivation, and problem-solving skills.
• Attentive listener capable of understanding customer needs.
• Ability to handle difficult conversations with empathy, patience, professionalism, and positive language.
• Knowledge of Guidewire.
• Goal-oriented, persuasive, and tenacious.
• Ability to handle surprises and communicate under pressure.
• Accountability in providing resolutions.

Salary range is $50,200 - $92,500.