Sr Underwriter, Specialty Insurance

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. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer 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. Bring your true self and be a part of our journey. It’s better here.

We are evolving our Specialty capabilities by strengthening and building on our current product offering, with the goal of differentiating Economical in the Canadian marketplace. As part of the Specialty Lines team you will help deliver innovative and effective solutions to support profitable growth of our Segment and MGA portfolios.

The successful candidate will be responsible for the day-to-day management of accounts within the Specialty Segment and MGA space and will liaise with various stakeholders and partners. Utilizing expertise of the industry, analytical capabilities, solid relationships as well as superior communication and organizational skills, the Underwriter will manage both new and existing Segment risks as well as managing MGA portfolios. The Underwriter will be expected to work closely with stakeholders to ensure best in class service and managing the day to day relationship with our insurance partners.

The successful candidate will need to demonstrate a good understanding of portfolio management, excellent listening skills and the ability to communicate effectively with both brokers and our insurance partners in order to drive an aligned strategy to profitably grow our business.

What you can expect in the role?

• Support and contribute to the successful delivery of strategy
• Contribute to both account retention of existing business and solid growth of the portfolio
• Encourage inclusion and openness to ensure alignment with overall strategy
• Manage the underwriting portfolio in accordance with guidelines and approved rating models, ensure best practice are maintained to ensure profitability
• Negotiate terms, conditions and premium for new and renewal accounts within individual assigned portfolio and authority level
• Conduct annual audits on MGA portfolio and update corresponding agreements
• Provide pipeline for new and renewal business
• Work closely with both Risk Services and Claims Department
• Provide technical mentorship to underwriting teams and work collaboratively on complex risks
• Provide insight and communication of the portfolio to Assistant Vice President, Specialty Lines
• Build strong partnerships and drive growth with key brokers/MGA’s and clients
• Build strong relationships with key stakeholders within the Commercial Lines team
• Participate in industry events, broker meetings and site visits/inspections
• Represent the Specialty Lines team on internal and external projects

What do you bring to the role?

• University degree in Business Administration or related field
• 4-8 years of progressive experience working with complex to highly complex property risks
• Technical knowledge of policy wordings and ability to interpret government regulations
• Strong analytical, mathematical and technical decision-making skills 
• Committed team player with great leadership skills
• Excellent negotiation and communication skills
• Well organized with excellent time management skills and ability to multi-task
• Perform well in a busy operation and remain calm under pressure
• Adaptable to a rapidly changing environment
• Well organized with excellent time management skills and ability to multi-task
• Strong written and verbal communication skills

Salary range is $64,400 - $118,500

Interested in this role, but don't meet every requirement? We encourage you to apply! We know from experience that a candidate doesn't need 100% of the qualifications listed to bring incredible value to our team. We're actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren't just "nice to have" — they're essential to our success.

What's in it for you?

• 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

Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.  In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

Go ahead and expect a lot — you deserve it.
It's better here — but don't take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.

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].

Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).

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