Underwriting Co-Op, Property & Casualty (2023 Fall - Toronto, 4 Months)

POSITION: Underwriting Co-op, Property & Casualty (2023 Fall - Toronto, 4 months)

LOCATION: Toronto, ON

DURATION: 4 Months

ANTICIPATED START DATE: September 2023

NUMBER OF POSITIONS: 1

APPLICATION DEADLINE: May 16, 2023

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Munich Re is one of the top providers of reinsurance, primary insurance, and insurance-related risk solutions in the world. Taking on risks worldwide of every type and complexity, the Munich Re Group and its business units are active in all lines of insurance. Our consistent risk management, financial stability, and client proximity make us a much sought-after trusted business partner. As a leader of risk transfer here in Canada, Munich Re strives to be the “go-to” reinsurance partner. We offer a full range of traditional risk-transfer solutions through Property and Casualty, Treaty and Facultative reinsurance. As risk evolves and changes, Munich Re focuses on innovation by developing products and services on the forefront of change. Together with our clients, we will shape the future of our industry.

Our co-op placements provide you with an excellent opportunity to practically apply your classroom and technical training in the reinsurance industry. While with our team, you’ll be; coached by experienced industry professionals, exposed to Munich Re leadership, challenged as a valuable team member and contributor doing meaningful work, and mentored to develop a solid foundation that will help position you as a future leader in the field.

Munich Re is operating under a hybrid working model, including an average of 2 days in office/week with the remaining days working from home. Students are expected to relocate to the city in which they work for the duration of their co-op/internship, so they can fully benefit from the full program integration.

Position Overview

Working with underwriting professionals, you will be assigned a variety of responsibilities based on demand and interest with a focus on developing essential skills and competencies as an Underwriter in the insurance/reinsurance industry.

Job Responsibilities

Work term responsibilities will include, but not be limited to the following:

Facultative Underwriting (MROC)

• Investigate claims prior to making payment to clients;
• Set-up certificates for underwriter approval;
• Opportunity to attend luncheons with facultative UW & clients;
• Investigate, follow-up, and contact clients regarding account discrepancies, payments, and other inquiries as necessary via email;
• Assist department underwriters and managers, as required.
• Prepare reports as may be required in Excel, Word, and PowerPoint formats;
• Request account information and follow-up for missing information;
• Carry out research for client events, and promotional materials/products;
• Clear incoming hard copy & on-line mail;
• Review facultative policy documents and wordings;
• Send renewal letters to clients;
• Setup New Business for Casualty and Property Facultative underwriters;
• Assist property treaty underwriters in analyzing client submissions;

Qualifications

First and foremost, we’re looking for well-rounded individuals who are professional, have great communication skills, and demonstrate the ability to build strong relationships with both internal and external clients. You’ll be joining an energetic and goal-oriented team that uses a collaborative approach to working within all areas of the company, and focuses on achieving the greater objectives of Munich Re.

Specifically, we’re looking for the following qualifications:

• Proficient in Microsoft Office Suite, particularly in: Excel, Word, and PowerPoint;
• Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment – particularly in relation to data entry;
• Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive;
• Excellent communication skills – spoken & written, formal/informal presentation;
• Effective working both independently and as part of a greater team;
• Currently pursuing an undergraduate degree in Business Administration/Commerce, or equivalent program – with a focus on insurance and in healthy academic standing;
• Preference for candidates who have relevant work experience, having already completed at least one placement (or approx. 4+ months in-field experience).
• Mathematical aptitude;
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance;

Note that this opportunity is open to both current students who will be returning to in-class studies upon the completion of the internship, as well as recent graduates who have obtained their undergraduate degree within the past year.

Please note that only candidates who are selected for interview will be contacted directly.

We thank all candidates for their interest.