Senior Underwriter, National Underwriting

Munich Re Careers•Toronto, ON

12d•Hybrid

About The Position

HSB Canada, part of Munich Re, is Canada's premier engineering-driven specialty insurer and provider of inspection, engineering and technology services that set the standard for excellence in the market. Our constantly evolving offerings lead the market in cyber, equipment breakdown, renewable energy, technology services, engineering-based risk management and inspection services. We bring technical expertise to help our clients stay ahead of complex, emerging and technology-based risks. We dare to think big, and we are continuously innovating on behalf of our clients. We recognize Diversity, Inclusion, and Belonging as key priorities and a culture that welcomes different thoughts and opinions. HSB is much more! It’s insurance. Engineering. Technology. To learn more about us, please visit: https://www.hsb.ca Reporting to the Manager, National Underwriting, the Senior Underwriter will be responsible for underwriting quality, risk assessment, pricing, and identification and handling of new risks and opportunities and risk-related trends. The Underwriter will ensure they follow underwriting guidelines and deliver high-end service to internal and external stakeholders. The successful candidate will play a pivotal role in the underwriting and growth of our profitable book of Equipment Breakdown and Specialty Lines Insurance, as well as partner with key industry leaders both internally and externally in executing business development initiatives for the Regional Hubs and Company.

Requirements

A bachelor's degree in finance, Business Administration, Actuarial Science, or a related field is required.
5+ years of experience in commercial underwriting within a medium to large level Equipment Breakdown insurance company with a superior track record in commercial underwriting insurance company is highly desirable.
Strong understanding of the insurance market, underwriting principles, and risk management strategies.
Excellent communication and interpersonal skills, with the ability to engage and influence both internal teams and external stakeholders, with a solid industry network established.
Strong analytical and strategic thinking capabilities, with a focus on operational efficiency and process improvement.

Nice To Haves

Professional designations such as Chartered Insurance Professional (CIP) and working towards Fellow Chartered Insurance Professional (FCIP) are strongly preferred.
A background in broking or facultative reinsurance underwriting would also be an asset.
Bilingual capabilities (English and French) are an asset.

Responsibilities

Actively work on enquiries received from client companies/brokers/general agents, ensuring consistent and efficient processes for underwriting activities.
Generate quotes, underwrite renewals and new accounts, bind opportunities within the authority, and work with Corporate Underwriting to approve opportunities above the authority limits.
Solution all insurance coverages and related business operations.
Remain current on market trends and the suite of HSB products.
Review Large Losses, where needed.
Handle all levels of Equipment Breakdown accounts including underwriting and presentation to Committee of complex and sophisticated placements including Underwriting Partnership Roundtables (UPRs).
Handle large hub accounts and work closely with the business development advisors for the presentation and negotiation of terms with the broker or client company underwriter.
Understand the impact of loss ratios, hit ratios, written premiums and territory performance to underwrite profitably.
Collaborate closely with the Corporate Underwriting (CU) team to ensure adherence to guidelines, wordings, pricing and proper usage of available underwriting tools.
Develop and maintain relationships with brokers and General Agents (GAs).
Build and maintain strong relationships with key internal and external stakeholders, including the National Underwriting, U/W Support and Business Development leadership team, Treaty, TRusT, Cyber and Corporate Underwriting to drive business success.

Benefits

An engaging and collaborative environment that promotes continuous learning and development
A hybrid work environment that combines weekly in-office and remote days. Fully remote options are offered in some locations across Canada.
A great compensation package including an annual company bonus
Competitive company-paid flexible health and dental benefits, starting on your first day
Flexible dollars provided by the company to put towards a Health Spending Account and/or Wellness Spending Account
Wellness program with tools and resources supporting your mental, physical, and financial wellbeing – on and off the job
Participation in the DC Pension Plan with a progressive employer contribution scale based on tenure starting at 4%, plus optional company match in the RRSP plan
Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees
Employee Referral Program and Recognition Program