Underwriter, Group

Co-operators • Toronto, ON

3d • CA$50,280 - CA$83,800 • Hybrid

About The Position

The Group Underwriter assesses risk and analyzes the overall composition of a group, in order to establish and approve premium rates, expenses, commissions and policy provisions for new and existing business, assuring the total risk is not excessive for groups with pooled financial accounting arrangements. This position works in a team environment to maintain profitable group insurance and to provide superior external and internal customer service.

Requirements

• Completion of post secondary education with two years of related work experience.
• Working towards CEBS or LOMA designation.
• Thorough knowledge of group insurance products as well as pricing for each product.
• You leverage critical thinking skills to identify problems and proactively propose solutions.
• Your strong communication skills allow you to clearly convey messages.
• You’re an effective team player who shares knowledge to support our peers.

Nice To Haves

• French is an asset.

Responsibilities

• Analyze, prepare and calculate renewal rates for pooled financial arrangements within the assigned portfolio using manual and experience rating methods to retain business and contribute to the profitability of group insurance. Portfolio may include small stand alone and broker blocks, TPAs and agent accounts.
• Analyze premiums, claims, experience rating methodology, demographic changes, trends, legislative changes, guidelines, pricing strategies, policy provisions & expenses in order to calculate appropriate renewal rates.
• Calculate and using sound judgement determine the appropriate renewal premium rates, expenses, commissions and policy provisions considering pertinent facts, information, policies legislative changes and guidelines to comply with corporate retention, profitability and adequacy levels.
• Analyze, calculate competitive pricing and release new business quotes for pooled financial arrangements within the assigned portfolio using manual and experience rating methods to acquire business and contribute to the profitability of group insurance.
• Portfolio may include small stand alone and broker blocks, TPAs and agent accounts.
• Review the quote information, determine if coverage falls within the underwriting guidelines and established procedures and system capabilities or if an alternative approach may be applied.
• Determine the appropriate premium rates, expenses, commissions and policy provisions considering pertinent facts, information, policies legislative requirements and guidelines to make timely rating decisions while identifying all deviations.
• Validate rates to ensure they are reasonable based on current rates, experience, plan design, industry and demographics of the group.
• Acts as a resource for sales, internal departments clients and peers for resolving underwriting issues on assigned portfolio.

Benefits

• Training and development opportunities to grow your career.
• Flexible work options and paid time off to support your personal and family needs.
• A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
• Paid volunteer days to give back to your community.
• In addition to our competitive salary and incentive programs, eligible employees also benefit from a comprehensive total rewards package including group retirement savings plans, pension and benefits (e.g., health and wellness, dental, disability and life coverage), mental health support and an employee assistance program.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree