Underwriter, Small Business

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

Job summary

A leading company in the insurance sector is seeking an Underwriter to assess risks and manage submissions in Commercial Lines. The role involves customer interaction and requires strong communication and problem-solving skills, along with a minimum of two years of underwriting experience. This position offers a competitive salary range and opportunities for professional growth.

Qualifications

• At least two years of experience in Commercial Lines underwriting.
• Insurance knowledge with awareness on risk.
• Strong motivational skills and attentive listener.

Responsibilities

• Ensure underwriting efficiency and effectiveness.
• Assess risks and accept, decline, or amend submissions.
• Provide exceptional service to Brokers.

Skills

Communication

Problem-solving

Sales

Job description

What to expect

• Ensure underwriting efficiency and effectiveness
• Assesses risks and accepts, declines, or amends new business submissions, policy endorsements, renewals, etc.
• Understands and aligns decision making to Economical's Line of Business and segmentation strategies
• With some guidance, develops solutions to achieve profitable growth targets
• Underwriter insurable risks in our nine business segments: Realty, Restaurants, B+P, Contractors, Automotive, Retail, Warehousing, Wholesaling, Manufacturing”
• Leverages tools, resources and reports to appropriately evaluate risks and make effective Underwriting decisions
• Applies Underwriting judgment and relies on the guidance of senior staff and his/her Team Leader to process moderately complex risks effectively in accordance with Economical's corporate policies, Underwriting guidelines, standard operating procedures, and Line of Business and segmentation strategies
• Knows how and when to leverage Underwriting Technicians and when to refer or escalate specific transactions/issues to more senior Underwriting stakeholders, as required
• Reviews Claims activity and takes appropriate action within his/her Underwriting authority level, as required
• Customer Experience
• Contacts Brokers, where required, to request additional information, communicate risk acceptances and terms, declines as well as quote follow ups (where applicable) to achieve target hit ratios - Provides exceptional service to Brokers for all interactions, and seeks to add value in every Broker interaction
• Acts as a point of contact for inquiries related to Commercial Property Insurance
• Routes/escalates Broker inquiries to alternative points of contact within Economical to enable effective and prompt resolution of inquiries, where appropriate
• System Expertise
• Effectively manages multiple transactions within the policy case management system, leveraging system functionalities to appropriately route and document processing of transactions
• Demonstrates deep understanding of the policy administration systems and quoting systems and how functionalities can be used to best respond to Broker inquiries and needs, and completes all the required documentation in the system
• Applies knowledge of document management to access most up-to-date materials, guides and/or tools

What you bring

• Insurance knowledge with awareness on risk and at least two years of experience in Commercial Lines underwriting
• Excellent communication and people skills strong motivational skills and problem-solving skills. Attentive listener with the ability to anticipate and understand the customer's needs. Successfully maneuvers difficult conversations with ease while exercising empathy, patience, professionalism and the use of positive language.
• Experience with sales.

Salary range: $50,200 - $92,500