Underwriting Specialist - Construction and Contracting

Northbridge Insurance - Toronto, ON (10 months ago)

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“The Power of Together”

Join Northbridge, a growing dynamic company that has a long and rich Canadian history in providing innovative insurance solutions to customers nationwide.

Northbridge Financial Corporation is a leading commercial property and casualty insurance company that’s been helping protect Canadian businesses for more than 90 years. We’re 100% Canadian!

We offer a wide range of creative solutions to our customers through our Northbridge Insurance, TruShield Insurance and Federated Insurance brands where we strive to create a fair and friendly culture, upheld by the foundation of our five corporate values: respect, passion, connectedness, creativity, and excellence.

By continually striving to challenge the status quo, and by focusing on helping the customers we have the privilege of ensuring we achieve the possibilities of their business, we’ve been able to build our reputation as one of Canada’s largest commercial insurance providers.

To help us continue to build on this success, we’re committed to attracting, developing and retaining the best people.

Be part of a team that’s passionate about making a difference every day, fuelled by our entrepreneurial spirit and where everyone owns a part of our success. Our company has had an amazing journey so far, and our future is full of new possibilities!

Located in the heart of Toronto’s Financial District, our head office is easily accessible by TTC and GO Transit, and within walking distance to the Eaton Centre, Scotiabank Arena, Rogers Centre, and CN Tower. As a national property and casualty commercial insurance provider, we also have offices across Canada.

Position Summary:
The Sr. Underwriter or Underwriting Specialist is responsible for underwriting and servicing increasingly complex accounts in accordance with established guidelines and business objectives in the achievement of national standards for data quality and service levels.

The incumbent will be expected to solve complex problems by applying a broad perspective to identify solutions and, also in interpreting internal and external business issues and recommending best practices.

What you will be doing:
Implement renewal rate and exposure, retention, and rate adequacy guidelines
Evaluate, document, select, negotiate, and price for assigned policies in order to ensure a profitable book of business within established underwriting authority
Refer and redirect requests for pricing decision and risk selection (for risks beyond personal authority) along with recommendations
Analyze new business for risk profitability by assessing exposures and hazards as determined by review of underwriting data and referring as required
Monitor trends and developments identifying areas of concern regarding loss ratios, risk trends or other discrepancies
Understand and apply best business practices towards compliance, internal control and operational risk controls in accordance to national standards and regulatory standards and policies
Participate in audits as required
Maintain working knowledge of all Information Systems/Programs within underwriting, and analyze/recommend improvements to work processes and procedures
Evaluate, select and establish/negotiate proper rate and Insurance to Value (ITV) levels for risks in order to ensure a profitable book of business
Develop and maintain a knowledge and understanding of company operations and procedures

Develop and maintain professional relationships (with brokers and/or customers) to enhance understanding of the target market and to contribute to quality service, problem solving, and risk selection
Collaborate with brokers and customers to assist in business retention and customer satisfaction through regular interactions
Maintain knowledge of industry trends, developments, and regulatory changes
Provide quality customer service to assigned brokers including clarification of coverage, wordings, and claims history
Understand and adhere to service standards in accordance with company guidelines
Forge new business relationships and solicit new business opportunities

Coaching / Mentoring:
Coach and mentor less experienced underwriters and support staff
Provide support staff with clear instructions and explanations for data entry to ensure accuracy and service standards are maintained
Act as a resource on risks outside of the authority level for less experienced Underwriters while authorizing risks within own established authority levels
Provide direction, development, and technical guidance to colleagues regarding products, systems, and processes as required

Operational Leadership:
Provide input to the Manager/Division Head and/or Corporate Underwriting on various underwriting, strategic, staffing and other issues as requested
Assist in developing Underwriting guidelines and procedures

Work collaboratively on special projects and assignments when required
Infrequent travel to visit clients, brokers, industry events and attend off-site training workshops will be required
Other duties as assigned.

What sets you apart:
Ability to foster and build good long-term working relationships with brokers, customers and business areas inside and outside the work unit
Able to work with long-term perspective in addressing broker or business area problems/issues
Ability to focus on the broker and customer needs, ensuring a high quality of service is provided
Demonstrated proficiency at managing multiple and changing priorities/projects, and delivering results
Demonstrated commitment to ongoing professional and technical development
Demonstrated commitment to high standards of performance and goals
Demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives

What we're looking for:
Post-secondary school education and/or equivalent on the job experience.
Completion of the CIP and/or FCIP designation and/or CRM designation
Minimum 5 - 7 years of experience in the Property & Casualty Insurance industry
Construction experience strongly preferred
Strong working knowledge and understanding of underwriting philosophy, policy contracts, rating programs, pricing models, risk information sources, underwriting/technical manual information, statuary constraints, and computer workflow procedures
Strong analytical and decision-making skills
Strong conflict resolution skills; ability to influence decisions and gain agreement and/or support on sensitive issues
Strong communication skills (verbal and written) along with strong presentation skills
Intermediate proficiency with Microsoft Office (Work, PowerPoint, Excel)
Ability to work within and adapt to PC oriented environments, including familiarity with e-mail and Internet skills.
Fluently bilingual (English / French) is a strong asset

What We Have to Offer:
Northbridge Cares program – volunteer day and donation matching
Generous paid time off, including personal days. Flexible work hours as well as early departure opportunities
Flexible Group Benefits Plan – medical, dental, insurances
Defined Contribution Pension Plan + Optional Group RRSP
Northbridge Employee Share Purchase Plan
Education Assistance Program
Employee Assistance plan
Staff Insurance - discount on home, automobile and pet insurance
Plus, the opportunity to contribute to the success of Northbridge through sharing your knowledge and experience while learning from others!

Working Conditions:
Indoors in normal office environment with little exposure to excessive noise, dust, fumes, vibrations, and temperature.
Frequent computer use at workstation.
Infrequent travel to visit clients, brokers, industry events and attend off-site training workshops.
Customer visits may require suitable clothing for heavy weather and dirty or oily environments.

Application Process:
Northbridge welcomes and encourages applications from people with disabilities. Accommodations are available upon request for candidates taking part in all aspects of the selection process. Interested, qualified candidates are encouraged to apply below.

All offers of employment are conditional upon satisfactory background and reference checks, including a criminal record check, credit check, and employment and educational verifications.