Underwriter, IRCA

Definity is the parent company to 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.

Job Summary

The IRCA Underwriter contributes to the profitable growth of the Commercial Insurance business by executing Underwriting processes and services that meet or exceed Brokers' needs and expectations for Small Business. Reporting to the Team Leader, Small Business, he/she is assigned referred risks that have limited potential to generate severe losses/gains or high loss/gain frequency, and do not pose a significant risk to the overall profitability of the Commercial Insurance portfolio. This role is accountable for the selection and proper rating of IRCA Commercial Auto Insurance transaction types (e.g., applications, endorsements, renewals, cancellations, voids, reinstatements, etc.) He/she is also accountable for evaluating and approving risks related to Commercial Auto IRCA Insurance policies. Within established underwriting rules and service levels, the incumbent escalates market intelligence and works with his/her Team Leader and peers to drive strong performance against service level agreements, productivity levels, profitability targets and key performance indicators (KPIs).

Key Accountabilities:

Underwriting

• Assesses risks and accepts, declines, or amends broker referrals for new business submissions, policy endorsements, renewals, etc.
• Leverages tools, resources and reports to appropriately evaluate risks and make effective Underwriting decisions
• Applies Underwriting judgment and relies on the guidance of senior staff and his/her Team Leader to process risks effectively in accordance with Economical's corporate policies, Underwriting guidelines, standard operating procedures, and Line of Business and segmentation strategies
• Actively builds his/her understanding of appropriate rating structures, forms of coverage, terms, conditions and wordings; and with guidance, applies these in accordance with the defined Underwriting guidelines, standard operating procedures, and Line of Business and segmentation strategies
• Knows how and when to leverage Underwriting Assistants, and when to refer or escalate specific transactions/issues to more senior Underwriting stakeholders, as required
  
  
  

Customer Experience:

• Provides exceptional service to Brokers for all interactions, and seeks to add value in every Broker interaction
• Manages relationships with Brokers as it relates to IRCA Commercial Auto Insurance, and acts as a point of contact for inquiries related to Commercial Auto Insurance
• Routes/escalates Broker inquiries to alternative points of contact within Economical to enable effective and prompt resolution of inquiries, where appropriate
• Contacts Brokers, where required, to request additional information, communicate risk acceptances and terms, declines as well as quote follow ups (where applicable) to achieve target hit ratios
• Identifies and proactively addresses service issues as well as data quality concerns with Broker transactions, and escalates as required
• Consistently documents each Broker interaction in the relevant system for reference at a later date
  
  
  

System Expertise:

• Effectively manages transactions within the policy case management system, leveraging system functionalities to appropriately route and document processing of transactions
• Demonstrates deep understanding of the policy administration systems and how functionalities can be used
• Follows appropriate procedures for document management within SharePoint
• Applies knowledge of SharePoint to access most up-to-date materials, guides and/or tools
• Identifies and escalates gaps in SharePoint, policy case management, policy administration systems performance, and contributes to the identification of continuous improvement opportunities to maximize efficiency and effectiveness as well as Broker experience
  
  
  

Escalation Initiation

Upon acknowledgment that an inquiry requires further escalation, the Underwriter would document and refer to the appropriate Escalation team.

When required, escalates inquiries to key points of contact (e.g., Service Escalations, PPU Escalations, Billing & Payment Escalations, BSS / Tech Support).

Accessing Third Party Data

• Orders and analyzes inspection reports, financial reports, analytics tools, or other Underwriting information, and uses this information to effectively analyze critical risk hazards and make decisions
  
  
  

Job Requirements

• Service focused with a positive helpful attitude
• Excellent communication and people skills strong motivational skills and problem-solving skills. Attentive listener with the ability to anticipate and understand the customer's needs,. Successfully maneuvers difficult conversations with ease while exercising empathy, patience, professionalism and the use of positive language.
• Excellent communication and people skills strong motivational skills and problem-solving skills. Attentive listener with the ability to anticipate and understand the customer's needs,. Successfully maneuvers difficult conversations with ease while exercising empathy, patience, professionalism and the use of positive language. Excellent degree of knowledge of Economical's IRCA insurance product and coverages. Full understanding of Economical's IRCA product manuals. A sound working knowledge of Guidewire.
• Goal oriented focus, persuasion skills, tenacity
• Ability to handle surprises and to communicate effectively under pressure
• Demonstrates accountability to provide resolution.
  
  
  

Salary range: $48,700 - $89,800

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).