Full-Time Underwriter, Specialty Programs
Reporting to the Manager, Specialty Programs, the Intermediate Underwriter, Specialty Programs is responsible for the managing and underwriting of complex new and existing Specialty Programs – Commercial Property and Casualty and/or Warranty business for assigned MGA’s with a clear focus on excellence in Program Underwriting. The incumbent takes ownership of and monitors MGA performance. In addition, he/she reviews underwriting information against budget and claims in order to achieve profit, production, premium and retention objectives.
Key accountabilities and responsibilities:
- Oversees multiple programs that require deep technical underwriting expertise. Performs risk assessments, PML evaluations, rating and coverage analysis and makes decisions within established guidelines. Takes a proactive approach to identifying issues and works independently to resolve and seeks advice as appropriate.
- Familiar with a variety of concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals for viability and profitability of all assigned Programs.
- Accountable for monitoring loss ratios and overall profitability through the review and commentary of monthly case results and the quarterly contribution analysis to ensure all targets are met. Reviews monthly reports on claims frequency and severity. Provides report to Management along with recommendations.
- Handles MGA’s referrals on special complex risk acceptance cases and deals with the submissions appropriately. Offers alternative terms and conditions that are presented on risks that are presented outside risk appetite and finds solutions within the boundaries of our Corporate Underwriting standards, practices and procedures.
- Responsible to perform renewal review of all assigned programs and make recommendations for the implementation of potential changes to the forms, underwriting, pricing (in concert with Actuarial) and issue processes to ensure profitable performance.
- Must identify need and prepare Program specific Reinsurance submissions for Reinsurance Company consideration. Obtain quotes and binding approval along with terms and conditions for successful reinsurance placement.
- Superior Relationship Management with MGA’s, other Distributors, Reinsurers, Internal Staff and Other Departments.
- To assist, if so assigned, in the process of evaluating new Program opportunities. This includes research, sorting out conflicting information, and preparation of draft application forms, policy wordings, underwriting manuals, rating systems, and MGA agreements for review. Prepares Program Development Survey and provides direction to Program Specialist to initiate and administer program launch ensuring strict adherence to key controls.
- Keeps up to date with industry trends to deliver excellence in underwriting and build on expertise.
- Responsible for month end closing procedures. Ensure all MGA placements are inline with Program Guidelines and that all risks are within authority. Helps Program Specialist to ensure premiums match ADAPT acceptance criteria that risks are within MGA binding authority.
- Organize and conduct MGA underwriting audits to address specific areas of concern and ensure MGA working within Program agreement and authority is followed. Review all findings; resolve all issues. Respond to internal and external auditors on compliance and other business issues. Participates as assigned to conduct internal audits.
- Perform other duties as assigned
Education & Experience
- University business degree
- CIP designation and working towards FCIP
- 4+ years P & C experience working with MGAs
- Technical underwriting expertise in all Commercial Lines Property and Casualty and/or Warranty business
- Understands Commercial products and pricing and can work with policy wordings and policy forms
- Leadership qualities with ability to train and develop Junior level staff
- Self motivated and can take control of Programs and/or product lines with ability to independently manage same with the objective of growing the business and generating an underwriting profit
- Strong analytical skills and excellent verbal and written communication skills. Strong presentation skills; solution driven.
- Ability to interface internally and externally with MGAs, Brokers, Reinsurers, staff and other Departments to ensure successful high quality outcomes
- Solid knowledge of Microsoft Word and Excel with experience working in Policy Management system
- Bilingual would be considered an asset
- Individual must adhere to our Corporate values – Teamwork, Integrity, Speed and Innovation and be able to deliver against strategic initiatives
Echelon Insurance is committed to providing accommodation throughout the interview and employment process. Should you require any accommodation please let Human Resources know so that we can accommodate your individual accessibility needs.
We thank all applicants for their interest, however only those selected for an interview will be contacted.
How to ApplyIf you are interested in this position, please send your resume to email@example.com.
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