Underwriter, IRCA

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

Job summary

A leading company in the Commercial Insurance sector seeks an IRCA Underwriter to drive profitable growth and enhance broker relationships. This role involves risk assessment, ensuring customer satisfaction through exceptional service, and utilizing underwriting tools while maintaining accountability in all interactions.

Qualifications

• Service-oriented with a helpful attitude.
• Handles difficult conversations with empathy.
• Demonstrates accountability in providing resolutions.

Responsibilities

• Assesses risks and makes effective underwriting decisions.
• Maintains strong broker relationships and provides exceptional service.
• Documents each broker interaction in the system.

Skills

Communication

Motivation

Problem-Solving

Customer Service

Knowledge of 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, etc.). 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 appropriately evaluate risks and make effective underwriting decisions.
• Applies underwriting judgment and relies on guidance from senior staff and their Team Leader to process risks effectively, in accordance with company policies, underwriting guidelines, SOPs, and segmentation strategies.
• Builds understanding of rating structures, coverage forms, terms, conditions, and wordings; applies these with guidance, following underwriting guidelines and strategies.
• Knows when to leverage underwriting technicians and when to escalate transactions/issues to senior stakeholders.

Customer Experience

• Maintains a strong sales focus with relationship building.
• Provides exceptional service to brokers, adding value in every interaction.
• Manages broker relationships related to IRCA Commercial Auto Insurance and acts as a contact point for inquiries.
• Routes or escalates inquiries within Economical for effective resolution.
• Contacts brokers for additional information, communicates risk acceptances, terms, declines, and follow-ups.
• Addresses service issues and data quality concerns proactively, escalating as needed.
• Documents each broker interaction in the system for future reference.

System Expertise

• Manages transactions within the policy case management system, utilizing functionalities for routing and documentation.
• Demonstrates understanding of policy administration systems and their functionalities.
• Follows procedures for document management within SharePoint.
• Uses SharePoint to access materials, guides, and tools.
• Identifies and escalates system gaps, contributing to continuous improvement opportunities.

Escalation Initiation

• Documents and refers inquiries requiring escalation to the appropriate team.
• Escalates inquiries to key contacts (e.g., Service Escalations, PPU Escalations, Billing & Payment Escalations, BSS / Tech Support) when needed.

Accessing Third Party Data

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

What you bring

• Service-oriented with a positive, helpful attitude.
• Excellent communication, motivation, and problem-solving skills.
• Attentive listener, understands customer needs.
• Handles difficult conversations with empathy, patience, professionalism, and positive language.
• Knowledge of Guidewire.
• Goal-oriented, persuasive, tenacious.
• Handles surprises and communicates effectively under pressure.
• Demonstrates accountability in providing resolutions.

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