Underwriter, Small Business Jobs

Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, Definity has grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.

Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.

Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.

Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.

What can you expect in this role?

• Ensure underwriting efficiency and effectiveness
• Underwrite insurable risks from new business segments such as Light Manufacturing, Warehousing, Wholesale and expanded eligible risks in commercial services, Retail, Restaurants, Reality, Contractors etc….
• With some guidance, develops solutions to achieve profitable growth targets
• Leverages tools, resources and reports to appropriately evaluate risks and make effective Underwriting decisions
• Assesses risks and accepts, declines, or amends new business submissions, policy endorsements, renewals, etc.
• Understands and aligns decision making to Economical's Line of Business and segmentation strategies
• Applies Underwriting judgment and relies on the guidance of senior staff and his/her Team Leader to process moderately complex risks effectively in accordance with Economical's corporate policies, Underwriting guidelines, standard operating procedures, and Line of Business and segmentation strategies
• Knows how and when to leverage Underwriting Technicians and when to refer or escalate specific transactions/issues to more senior Underwriting stakeholders, as required
• Reviews Claims activity and takes appropriate action within his/her Underwriting authority level, as required

Customer Experience

• Acts as a point of contact for inquiries related to Commercial Property Insurance
• Contacts Brokers, where required, to request additional information, communicate risk acceptances and terms, declines as well as quote follow ups (where applicable) to achieve target hit ratios - Provides exceptional service to Brokers for all interactions, and seeks to add value in every Broker interaction
• Routes/escalates Broker inquiries to alternative points of contact within Economical to enable effective and prompt resolution of inquiries, where appropriate

System Expertise

• Demonstrates deep understanding of the policy administration systems and quoting systems and how functionalities can be used to best respond to Broker inquiries and needs, and completes all the required documentation in the system
• Applies knowledge of document management to access most up-to-date materials, guides and/or tools
• Effectively manages multiple transactions within the policy case management system, leveraging system functionalities to appropriately route and document processing of transactions

What do you bring to the role?

• Successfully maneuvers difficult conversations with ease while exercising empathy, patience, professionalism and the use of positive language.
• Attentive listener with the ability to anticipate and understand the customer's needs.
• Insurance knowledge with awareness on risk and at least two years of experience in Commercial Lines underwriting
• Excellent communication and people skills strong motivational skills and problem-solving skills.

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Go ahead and expect a lot — you deserve it, and we’ve got it:

• Educational resources, tuition assistance, and paid time off to study for exams
• Pension and savings programs, with company-matched RRSP contributions
• Discounts on products and services
• Company share ownership program
• Wellness and recognition programs
• Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
• Hybrid work schedule for most roles
• Paid volunteer days and company matching on charitable donations

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]

Background checks

This role requires successful clearance of a background check (including criminal checks and leadership references).