The IRCA Underwriter contributes to the profitable growth of the Commercial Insurance business by executing Underwriting processes and services that meet or exceed Brokers' needs and expectations for Individually Rated Commercial Auto (IRCA). Reporting to the Team Leader, IRCA, they are accountable for the selection and proper rating of IRCA Commercial Auto Insurance transaction types (e.g., applications, endorsements, renewals, cancellations, voids, reinstatements, etc.). They is also accountable for evaluating and approving risks related to Commercial Auto IRCA Insurance policies.
Within established underwriting rules and service levels, the incumbent escalates market intelligence and works with their Team Leader and peers to drive strong performance against service level agreements, individual sales performance targets and productivity levels, profitability targets and key performance indicators (KPIs).
What to expect
Underwriting
- Assesses risks and accepts, declines, or amends broker referrals for new business submissions, policy endorsements, renewals, etc.
- Leverages tools, resources and reports to appropriately evaluate risks and make effective Underwriting decisions
- Applies Underwriting judgment and relies on the guidance of senior staff and their Team Leader to process risks effectively in accordance with Economical's corporate policies, Underwriting guidelines, standard operating procedures, and Line of Business and segmentation strategies
- Actively builds their understanding of appropriate rating structures, forms of coverage, terms, conditions and wordings; and with guidance, applies these in accordance with the defined 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
Customer Experience:
- Strong sales focus with an emphasis on relationship building
- Provides exceptional service to Brokers for all interactions, and seeks to add value in every Broker interaction
- Manages relationships with Brokers as it relates to IRCA Commercial Auto Insurance, and acts as a point of contact for inquiries related to Commercial Auto Insurance
- Routes/escalates Broker inquiries to alternative points of contact within Economical to enable effective and prompt resolution of inquiries, where appropriate
- 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
- Identifies and proactively addresses service issues as well as data quality concerns with Broker transactions, and escalates as required
- Consistently documents each Broker interaction in the relevant system for reference at a later date
System Expertise:
- Effectively manages transactions within the policy case management system, leveraging system functionalities to appropriately route and document processing of transactions
- Demonstrates deep understanding of the policy administration systems and how functionalities can be used
- Follows appropriate procedures for document management within SharePoint
- Applies knowledge of SharePoint to access most up-to-date materials, guides and/or tools
- Identifies and escalates gaps in SharePoint, policy case management, policy administration systems performance, and contributes to the identification of continuous improvement opportunities to maximize efficiency and effectiveness as well as Broker experience
Escalation Initiation
- Upon acknowledgment that an inquiry requires further escalation, the Underwriter would document and refer to the appropriate Escalation team
- When required, escalates inquiries to key points of contact (e.g., Service Escalations, PPU Escalations, Billing & Payment Escalations, BSS / Tech Support)
Accessing Third Party Data
- Orders and analyzes inspection reports, financial reports, analytics tools, or other Underwriting information, and uses this information to effectively analyze critical risk hazards and make decisions
What you bring
- Service focused with a positive helpful attitude
- Excellent communication, strong motivational and problem-solving skills
- Attentive listener with the ability to anticipate and understand the customer's needs
- Successfully maneuvers difficult conversations with ease while exercising empathy, patience, professionalism and the use of positive language
- A sound working knowledge of Guidewire.
- Goal oriented focus, persuasion skills, tenacity
- Ability to handle surprises and to communicate effectively under pressure
- Demonstrates accountability to provide resolution
Salary range is $50,200 - $92,500
