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About the Role
The Group Underwriter assesses risk and analyzes the overall composition of a group to establish and approve premium rates, expenses, commissions, and policy provisions for new and existing business. This position works in a team environment to maintain profitable group insurance and provide superior customer service.
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.
- Analyze premiums, claims, experience rating methodology, demographic changes, trends, legislative changes, guidelines, pricing strategies, policy provisions, and expenses to calculate appropriate renewal rates.
- Calculate and determine 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 and 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.
- Review quote information, determine if coverage falls within underwriting guidelines, established procedures, and system capabilities, or if an alternative approach may be applied.
- Determine 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.
- Act as a resource for sales, internal departments, clients, and peers for resolving underwriting issues on the assigned portfolio.
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.
- Subject to a Background check as a condition of employment.
Skills
- Influence change
- Continuous improvement
- Critical thinking
- Problem-solving
- Strong communication skills
- Effective team player
- Knowledge sharing
Location
- Canada
Work Type
- Hybrid
- Regular Full-Time
Experience Level
- 2 years of related work experience
Education Level
- Post-secondary education
Salary/Compensations
- $50,280 - $83,800
Benefits
- Training and development opportunities
- Flexible work options
- Paid time off
- Physical and mental health programs
- Paid volunteer days
- Competitive salary
- Incentive programs
- Group retirement savings plans
- Pension
- Health and wellness benefits
- Dental coverage
- Disability coverage
- Life coverage
- Mental health support
- Employee assistance program
About the Company
- CLIC is a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society.
- We prioritize our people, ensuring a strong culture and development opportunities that enable our team to thrive and live our purpose.
- We work with people who care passionately about you, our clients, and our communities.