Sr Underwriter, Specialty Insurance (Complex Middle Market)
Job ID : 6987
Category : Commercial Insurance
Brand : Economical
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Montreal, Canada
Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, Definity has grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
The successful candidate for this role is accountable for providing high quality underwriting of complex accounts which include high hazard risk exposures. The Underwriter is responsible for adhering to department guidelines and remaining within their authority limits as assigned. Application of underwriting judgement will contribute to the profitable portfolio of accounts within Specialty Lines.
What can you expect in this role?
- Assessing the risk and accepting or declining new business submissions, policy changes and renewals.
- Analyze risks that have a high potential to generate severe losses or high loss frequency.
- Underwrite business that does not qualify to be written through the regular branch.
- Apply a high level of underwriting judgement that is developed through the handling of high exposure risks.
- Order and analyze inspections, financial reports, location intelligence, NatCat exposures and other rating tools to use in the decision-making process for a risk.
- Negotiate terms and conditions of risk acceptance and pricing at the highest level.
- Handle high risk segment business.
- Other duties include production calls on brokers, assisting in field underwriting of accounts, attending industry functions, mentoring junior staff and conducting business development duties as required.
What do you bring to the role?
- Must be fluent in both French and English. High degree of proficiency with English required to service customers, both internal to the company and external, across Canada.
- Demonstrated high level understanding of commercial property risks.
- Proven knowledge of regional nuances and coverage differences for all regions across Canada.
- University degree or college diploma required.
- CIP designation is an asset.
- Ideally (4-5) years’ experience underwriting a wide variety of risks.
- High level understanding of regional differences and insurance regulations across Canada.
- Experience with cross-border and multinational placements.
- Able to quote new business, make policy changes and issue renewals. Need to be able to maintain corporate service standards.
- Able to negotiate with brokers, able to build new relationships quickly and have a solid understanding of the action’s insurers take and the impact on brokers and their clients.
- Excellent communication and organizational skills.
- Detail-oriented and strong problem-solving skills with the ability to gather information and analyze and solve through complexities.
- Knowledge of insurance products is an asset.
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).