Executive Underwriter
Northbridge Financial Corporation
Toronto, Ontario
5d ago

Position at Northbridge Insurance

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 insuring 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 Executive Underwriter is responsible for underwriting and servicing highly complex and unique portfolios in accordance with established guidelines and business objectives in the achievement of national standards for data quality and service levels.

The Executive Underwriter will be expected to solve highly complex problems by applying a breadth of expertise to identify innovative solutions and also in interpreting internal and external business issues and recommending best practices.

In addition to underwriting responsibilities, this position is responsible for the mentorship and training of underwriting and support staff, ensuring best practices and guidelines are understood and applied.

What you will be doing :

Underwriting :

  • Implement renewal rate and exposure, retention, and rate adequacy guidelines.
  • Responsible for the successful evaluation, documentation, selection, negotiation, and pricing 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.
  • Ensure endorsements, renewals, reissues, and cancellations are reviewed and analyzed in accordance with standards and guidelines.
  • 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.
  • Identifies, investigates, and develops new business / expansion opportunities for assigned segment.
  • Evaluates, selects and establishes / negotiates proper rate and ITV levels for risks in order to ensure a profitable book of business within established underwriting guidelines.
  • Develop and maintain a knowledge and understanding of company operations and procedures.
  • Maintain the long term profitability of a significant portfolio of accounts regardless of market conditions. This includes the ability to successfully negotiate terms, conditions and pricing to achieve new business, renewal and profitability targets.
  • Conduct price monitoring, risk selection and data quality performance reviews.
  • Oversee the completion of file reviews and audits.
  • Sales / Negotiations :

  • Develop and maintain a professional relationship 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.
  • Investigate customers’ risk factors relative to corporate pricing approach to gain support, agreement and enhance relationships.
  • Participate in the communication and education of brokers concerning the corporate underwriting philosophy, policies, and procedures as required.
  • Maintain knowledge of industry trends, developments, and regulatory changes including competitive analysis and information, and ensure all necessary broker management systems are updated and current.
  • 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 :

  • Mentor and train 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.
  • Support the completion of peer file reviews and audits.
  • Act as a resource on risks outside of the authority level for less experienced Underwriters, and authorize risks within own established authority levels.
  • Provide training, development, and technical guidance to colleagues regarding products, systems, and processes as required.
  • Collaborate with and support corporate underwriting teams in the development of products and pricing strategies to achieve profitable growth.
  • Coach and counsel underwriters in respects to risk evaluation, rating and the implementation of internal procedures.
  • Assess staff training and development needs and provide recommendations for training opportunities to build a competent staff capable of performing all underwriting functions within the unit.
  • Operational Leadership :

  • Provide input to their Manager / Division Head and / or Corporate Underwriting on various underwriting, strategic, staffing and other issues as requested.
  • Assist in developing Underwriting guidelines and procedures.
  • Consult with Corporate Underwriting regarding development of new products and changes to existing policy wordings.
  • Other :

  • Work collaboratively on special projects and assignments when required
  • Other duties as assigned.
  • What we are looking for :

  • Post-secondary school education and / or equivalent on the job experience.
  • Completion of the CIP and / or FCIP designation.
  • Minimum 10 years experience in the property and casualty industry
  • Working knowledge of company underwriting philosophy, policy contracts, rating programs, risk information sources, underwriting / technical manual information, statuary constraints, and computer workflow procedures.
  • Ability to work within and adapt to PC oriented environments, including familiarity with e-mail and Internet skills. Working knowledge of Microsoft Office.
  • Fluently bilingual (English / French) is a definite asset (a requirement in Quebec Region).
  • Sound knowledge and understanding of underwriting discipline and pricing models.
  • What sets you apart :

  • Demonstrated proficiency at managing multiple and changing priorities / projects, and delivering results.
  • Demonstrated commitment to ongoing professional and technical development.
  • Ability to focus on the broker and customer needs, ensuring a high quality of service is provided.
  • Demonstrated commitment to high standards of performance and goals.
  • Demonstrated verbal and written communication skills
  • Demonstrated presentation skills.
  • 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.
  • Demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives.
  • Strong analytical and decision-making skills.
  • Ability to influence decisions and gain agreement and / or support on sensitive issues.
  • Strong conflict resolution skills.
  • Strong mentoring / coaching skills.
  • 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!
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