Sr Underwriter, Specialty Insurance

Job ID : 7043
Category : Commercial Insurance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : North York, Canada

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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.

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

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 various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

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]

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


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