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28 Oct 2022

Full-Time Underwriter – Cyber and Technology

Insurance Career Network – Posted by Monica Toronto, Ontario, Canada

Job Description

Our client is a flexible and innovative employer, offering a friendly, collaborative and inclusive work environment.

Division:                      Cyber & Executive Risk (Cyber Risks)

Key Relationships:     Brokers, underwriters, claims staff, coverholders, external clients and suppliers

Job Summary:            To underwrite a Cyber & Technology account within the Cyber Risks division and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Company brand.

Key Responsibilities:

Underwriting

  • Develop and underwrite a profitable portfolio of Cyber & Technology business as part of the Cyber & Technology team.
  • Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
  • Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
  • Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
  • Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Cyber & Technology account.
  • Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Cyber Risks.
  • Comply with the Group’s minimum underwriting standards for business written.
  • Develop a good working relationship with the claims managers on this class of business.
  • Operate as a senior member of the team, providing internal support and handling key broker relationships.

Client Management

  • Advice, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
  • Foster positive relationships with clients to get a mutual understanding of both their and Company’s needs.
  • Maintenance of  good business relationships with brokers
  • Maintain awareness of overall product range and take advantages of opportunities to introduce other Company products to clients

General

  • Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within the Company.
  • Develop best practice and disseminate business and class knowledge within the Cyber & Technology and Cyber Risks team.
  • Work with peers within Cyber & Technology and Cyber Risks to maximise business opportunities and profitability within the department.  This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
  • Share and gather knowledge within the Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
  • Production of presentations and marketing literature as required.
  • Production of business plans/research documents for the Cyber & Technology account as required.

It is important that within all your interactions both internally and externally you adhere Company’s core values – Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.

Personal Specification:

Skills and Abilities

  • General commercial and financial knowledge
  • Possess underwriting ability
  • Accurate and numerate
  • Computer skills – good working knowledge of MS Office, advanced Excel skills
  • Strong analytical skills with attention to detail
  • Able to communicate effectively with others, both verbally and in writing
  • Motivational skills, team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritize

Knowledge and Experience

  • Experience of Cyber & Technology underwriting
  • Thorough knowledge of underwriting policy, philosophy and practice
  • Advanced knowledge of underwriting processes and systems
  • Client service experience

Aptitude and Disposition

  • Results focused, self-motivated, flexible and enthusiastic
  • Professional approach to interact successfully with managers/colleagues/external suppliers

Competencies

  • Achievement drive
  • Analytical thinking
  • Strategic thinking
  • Service focus
  • Team working

How to Apply

Insurance Career Network is a recruitment firm focused exclusively on the insurance industry.  Our relationships, knowledge and leading experience enable us to connect leading insurers, brokerage firm and independent adjusting firms with the most talented candidates for each role. Since 1991, we have been building and nurturing relationships and with over 13,000 registered candidates, we can tap into our highly technical experience for our clients.  Our recruiters come directly from insurance related positions and bring a wealth of knowledge to each recruitment assignment. TO APPLY: Register and submit your resume to monica@insurancecareernet.com or call Monica for more information 416 703-5120 ext 201

Job Categories: Underwriting. Job Types: Full-Time.

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