Underwriter, IRCA

Definity Financial; Toronto; On-site; CAD 50,000 - 93,000; Full time

Job summary

An established industry player in the insurance sector is seeking a dedicated IRCA Underwriter to enhance their Commercial Insurance business. This role is pivotal in executing underwriting processes that meet brokers' expectations while ensuring profitable growth. The ideal candidate will assess risks, manage broker relationships, and utilize advanced systems for effective decision-making. Join a dynamic team focused on delivering exceptional customer experiences and driving performance against key metrics. If you thrive in a fast-paced environment and possess strong communication and problem-solving skills, this opportunity is perfect for you.

Qualifications

• Service-oriented with a positive attitude and excellent communication skills.
• Able to handle difficult conversations with empathy and professionalism.

Responsibilities

• Assess risks and make underwriting decisions for new business submissions and renewals.
• Manage broker relationships and provide exceptional service to brokers.

Skills

Communication Skills

Problem-Solving Skills

Customer Service Orientation

Sales Orientation

Knowledge of Guidewire

Tools

SharePoint

Policy Case Management Systems

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 collaborate with their Team Leader and peers to drive strong performance against service level agreements, sales targets, productivity, profitability, and KPIs.

What to expect

Underwriting

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

Customer Experience

• Focuses on relationship building with a strong sales orientation.
• Provides exceptional service to brokers, adding value in every interaction.
• Manages broker relationships related to IRCA Commercial Auto Insurance and acts as a point of contact for inquiries.
• Routes or escalates broker inquiries within Economical for prompt resolution.
• Communicates with brokers to request information, convey risk acceptances, terms, declines, and follow-ups to meet hit ratios.
• Addresses service issues and data quality concerns proactively and escalates as needed.
• Documents interactions thoroughly in relevant systems.

System Expertise

• Manages transactions within policy case management systems, utilizing functionalities effectively.
• Understands system capabilities and follows procedures for document management in SharePoint.
• Uses SharePoint to access current materials and tools.
• Identifies system gaps and contributes to continuous improvement efforts.

Escalation Initiation

• Documents and refers inquiries requiring escalation to the appropriate team.
• Escalates inquiries to key contacts such as Service Escalations, PPU Escalations, Billing & Payment Escalations, BSS / Tech Support.

Accessing Third Party Data

• Orders and analyzes inspection reports, financial reports, analytics, 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 listening with the ability to anticipate customer needs.
• Ability to handle difficult conversations with empathy, patience, and professionalism.
• Knowledge of Guidewire.
• Goal-oriented, persuasive, and tenacious.
• Capable of handling surprises and communicating effectively under pressure.
• Accountable for providing resolutions.

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