Underwriter I (PL Mono)

SGI is committed to integrity and innovation, and they are seeking an Underwriter I to handle moderately complex personal lines insurance risks. This role involves evaluating and processing insurance requests, developing relationships with brokers, and improving the customer experience.

Responsibilities

• Evaluates multiple products and their risk factors in a holistic and customer-centric approach to determine risk acceptability and rating
• Reviews and evaluates quotes, new applications, renewals, revisions, and cancellations to determine risk acceptability within current underwriting authority
• Researches and obtains additional information on risk if required using technology as well as external data sources for the purposes of quoting, negotiating, and authorizing the acceptance of risk
• Determines if risk is acceptable, needs modification, or should be declined based on analysis of all information pertinent to the risk and within the underwriter's authority
• Calculates premiums, ensuring that appropriate rates are used application discounts and surcharges are applied within established underwriting guidelines, applicable laws, and regulations
• Negotiates with brokers as to the conditions, limitations, rates, and premiums to apply
• Corresponds with brokers and/or customers to request information and explain underwriting requirements and decisions
• Collaborates with internal and external stakeholders to discuss risk acceptance and policy wording interpretation
• Develops an understanding of the policy wordings, conditions, limitations, rates, and premiums with a strong focus on customer needs
• Maintains accurate records of decisions made and maintain completeness of policy data
• Completes claim alerts, underwriter reviews, and performs other related duties as assigned
• Mentors, provides direction, and reviews and approves the work of staff in junior positions
• Collaborates with loss prevention partners (internal and external) to measure risk acceptability and to improve risk
• Develops an understanding of existing and emerging industry and regional trends and market conditions and obtains additional information on risk if required
• Identifies improvements to processes, procedures, insurance products and/or systems
• Works within the department team collaboratively and support cross-departmental teams when required
• Identifies opportunities to improve broker experience and seeks to find solutions while adhering to the company guidelines
• Develops and maintains relationships with an assigned group of brokers to develop lasting and profitable relationships, which involve broker visits
• Collaborates with other departments to deliver a consistent experience to brokers and customers
• Assists with training to staff, brokers, and external parties on products and procedures. May be required to conduct formal presentations
• Understand and provide guidance to broker on the technologies used and offer support in completing business
• Explains underwriting criteria and decisions to brokers (verbally and/or in writing)
• Supports a culture of leadership and accountability to effectively meet the key accountabilities within the scope of the role
• Displays leadership by committing to a culture of continuous learning/development of self and supports others by actively sharing knowledge, providing guidance, mentoring, training, and supporting developmental opportunities
• Demonstrates that the Health, Safety and Emergency Management Policy is applied in area of responsibility for self and others
• Actively applies knowledge to support transformation and strategic initiatives of the corporation, while participating and advocating change and applying a growth mindset

Skills

• Proficient knowledge of the principles and practice of insurance, underwriting policies and procedures for Auto or Property
• Proficient knowledge of applicable provincial/federal regulations
• Proficient knowledge and skill of the interpretation, procedures, rating, and application of established criteria and determine appropriate premium, coverages, and deductibles for insurance products
• Fundamental knowledge of insurance theory and reinsurance principles
• A two-year diploma from an accredited post-secondary education institution in a relevant field of study, such as Business, or defined equivalency
• 1 - 2 years' experience working in personal property underwriting

Company Overview