Underwriter - Financial Lines, International

Location: Canada
Office Locations: Flexible

Description


We have an exciting opportunity to join Beazley's Canadian Financial Lines team. This role will have a multiline focus with a particular emphasis on Commercial Management Liability and Financial Institutions business across the middle-market and large risks space. The underwriter will handle both renewal and new business and there will be some travel required. We are looking for an efficient, detail-oriented individual who takes a commercial approach to business and enjoys marketing and production. The role can be based in any of our Canadian offices (Toronto, Vancouver and Montreal).

Beazley is a flexible and innovative employer offering a friendly, collaborative and inclusive work environment. We welcome applications from all backgrounds


Job description and person specification

Job Title: Underwriter – Financial Lines (Canada)

Division: Specialty Lines

Key Relationships: Brokers, Underwriters, Claims staff, Coverholders, external Clients and Suppliers 

Job Summary: To underwrite a Canadian Financial Lines account within the International Speciality Lines team and provide counsel and advice on underwriting and market issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.

 

Key Responsibilities: 

Underwriting

  • Develop and underwrite a profitable portfolio of Canadian Financial Lines business – predominantly focused on Management Liability and Financial Institutions within the mid to large account space – as part of the International Specialty Lines team.
  • Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
  • Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
  • Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
  • Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Canadian Financial Lines account.
  • Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines.
  • Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s internal MGAs.
  • Develop a good working relationship with the claims managers on this class of business.

Client Management

  • Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
  • Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs.
  • Maintenance of good business relationships with brokers.
  • Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.

General

  • Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
  • Develop best practice and disseminate business and class knowledge within the Canadian Financial Lines and International Specialty Lines teams.
  • Work with peers within Financial Lines and International Specialty Lines to maximise business opportunities and profitability within the department.  This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
  • Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
  • Production of presentations and marketing literature as required.
  • Production of business plans/research documents for the Canadian Financial Lines account as required.

At Beazley we are committed to doing the right thing because it is the right thing to do.  It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley. 

  • Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
  • Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
  • Display business ethics that uphold the interests of all our customers
  • Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
  • Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.  This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
  • Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.  These may include membership of any Beazley committees or working groups.

 

Personal Specification:

Education and Qualifications

  • Ideally graduate level education

Skills and Abilities

  • General commercial and financial knowledge
  • Possess underwriting ability
  • Accurate and numerate
  • Computer skills – good working knowledge of MS Office, advanced Excel skills
  • Strong analytical skills with attention to detail
  • Able to communicate effectively with others, both verbally and in writing
  • Motivational skills, team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritise

Knowledge and Experience

  • Experience of Financial Lines underwriting
  • Good knowledge of the Canadian market
  • Thorough knowledge of underwriting policy, philosophy and practice
  • Advanced knowledge of underwriting processes and systems
  • Client service experience

Aptitude and Disposition

  • Results focused, self-motivated, flexible and enthusiastic
  • Professional approach to interact successfully with managers/colleagues/external suppliers

Competencies

  • Achievement drive
  • Analytical thinking
  • Strategic thinking
  • Service focus
  • Team working
  • Team leadership
  • Conceptual thinking
  • Forward thinking




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