Underwriter, SLS Program - Professional Lines, Technology & Cyber Insurance

Sovereign Insurance; Toronto; Hybrid; CAD 70,000 - 90,000; Full time

Job summary

A leading insurance firm in Toronto is seeking an Underwriter to support the growth of their Professional Lines, Technology and Cyber programs. The successful candidate will collaborate with management on underwriting strategies, engage with partners, and utilize data analytics to enhance risk management. Strong experience in underwriting and excellent communication skills are essential. This hybrid role offers competitive benefits and a focus on employee well-being.

Benefits

Competitive salary

Comprehensive benefits package

Flexible work options

Qualifications

• 3-5 years underwriting experience in professional lines or technology and cyber preferred.
• Understanding of commercial and specialty insurance marketplace is required.
• Superior oral and written communication skills.

Responsibilities

• Perform underwriting due diligence on new programs aligning with business objectives.
• Assess risk factors and market conditions for competitive pricing.
• Monitor performance of distribution partner portfolios.

Skills

Client engagement

Data analytics

Communication skills

Collaboration

Critical thinking

Education

Chartered Insurance Professional (CIP) Designation

Job description

Company : Sovereign Insurance

Department : SOV - MGA Portfolio

Employment Type : Regular Full-Time

Work Model : Hybrid (2 days / week in office)

Language : English is required, French is an asset.

Additional Information : This / these role(s) is / are currently vacant.

Overview

The Opportunity :

As a wholly owned subsidiary of the Cooperators General Insurance, Sovereign Insurance believes your experience matters. This is our promise to not only our clients but to our employees as well, because we know the strength of our company starts with our people. The smart, curious and collaborative people who bring their whole heart and passion to work each day. But you can’t pour from an empty cup; we take care of the well-being of our people so that they are inspired to protect Canadian businesses and the lives, families and communities we impact. Join us and begin shaping your experience at Sovereign.

This role will support the growth of our Professional Lines, Technology and Cyber programs by participating in the identification, decision-making, and onboarding of new programs. You will work closely with Underwriting Specialists and Senior Management to ensure our programs support our business objectives. The role will have a national mandate to support our distribution partners across Canada. The ability to navigate internal stakeholders and external partners to get things done with a high level of collaboration, critical thinking, data analytics, and communication skills is required to ensure success.

How you will create impact :

• Perform underwriting due diligence on new program opportunities against our appetite & framework, reviewing underwriting methodology, guidelines, processes, pricing structure, coverage terms, and wordings. Collaborate with senior management to establish and review underwriting strategies that align with business objectives and risk appetite.
• Assess risk factors and market conditions to determine appropriate premium rates for the specific program. Utilize actuarial tools, historical data, and market insights to establish competitive pricing while ensuring profitability and risk management.
• Monitor and evaluate the performance of distribution partner portfolios, including policy retention, loss ratios, and profitability.
• Provide underwriting support for existing programs, including audits (virtual and in person), risk referrals, wording, and pricing reviews to maintain profitable relationships.
• Provide advice and guidance regarding underwriting authority (including approvals) or technical advice to delegated authority partners and participate in audit processes.
• Conduct market research and analysis to identify emerging trends, competitive landscape, and new business opportunities within the program space. Provide insights and recommendations to management for product development and enhancement.
• Support research and development of guidelines and ratings for new underwriting classes of business with more senior underwriters and specialists.
• Build and maintain strong relationships with distribution partners and other stakeholders involved in the program space. Collaborate effectively with internal teams, including claims, legal, actuarial, and compliance, to ensure smooth underwriting processes and timely resolution of issues.
• Use data and analytics to deepen understanding of our partners to improve risk selection, manage our portfolio, and provide better solutions for our clients.

How you will succeed :

• You thrive on delivering exceptional client experiences through positive and engaging relationships; embracing accountability to achieve effective results.
• You ensure your actions align with the company’s purpose, vision, and values, even when challenged.
• You support and guide others through changing conditions and encourage exploration of new opportunities or innovations.
• You value and promote cooperative and collaborative dialogue, recognizing that diverse perspectives lead to more creative and productive solutions.

To join our team :

• Chartered Insurance Professional (CIP) Designation is an asset.
• 3-5 years underwriting experience in professional lines or technology and cyber preferred.
• Understanding of the commercial and specialty insurance marketplace; products, distribution channels, practices, and processes is required.
• Superior oral and written communication skills with the ability to deliver presentations and clearly communicate ideas.

What you need to know :

• You will be subject to a background check as a condition of employment if you are the successful candidate.
• Work requires a high degree of mental concentration for extended periods.

What’s in it for you?

• The opportunity to work on challenging projects and contribute your expertise, creativity, and passion in meaningful ways.
• A comprehensive total rewards package, including competitive salary, bonus, paid time off, pension, and benefits.
• A holistic approach to your well-being, with health programs and flexible work options.
• The chance to be part of an inclusive team that inspires each other to explore and achieve new possibilities.

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