Underwriting Co-op
Company
Temple Insurance Company
Location
Toronto , Canada
POSITION: Underwriting Co-op (2025 Winter – Toronto, 8 months)
LOCATION: Toronto, ON
DURATION: 8 Months
ANTICIPATED START DATE: January 2, 2025
NUMBER OF POSITIONS: 1
APPLICATION DEADLINE: September 20. 2024
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. In addition, it is the responsibility of the candidate to ensure that they are legally entitled to work in Canada for the entire duration of their co-op work term at Munich Re.
Position Overview
You’ll work closely with other Underwriters within their respective departments, as well as with other key individuals across the organization in our Toronto office.
Note that this opportunity supports Temple Insurance, a Canadian licensed insurance carrier, enabling business units across the Munich Re Group to write direct P&C business in Canada.
Job Responsibilities
Work term responsibilities may include, but are not limited to the following:
Facultative Underwriting (MROC)
- Setup New Business for Casualty and Property Facultative underwriters;
- Clear incoming hard copy & on-line mail;
- Send renewal letters to clients;
- Set-up certificates for underwriter approval;
- Review facultative policy documents and wordings;
- Assist property treaty underwriters in analyzing client submissions;
- Request account information and follow-up for missing information;
- 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;
- Investigate claims prior to making payment to clients;
- Carry out research for client events, and promotional materials/products;
- Prepare reports as may be required in Excel, Word, and PowerPoint formats;
- Assist department underwriters and managers, as required.
Qualifications
First and foremost, we’re looking for well-rounded individuals who are technically astute, have strong communication skills, and demonstrate the ability to build strong relationships with internal and external clients. You’ll be joining an energetic and goal-oriented team that uses a collaborative approach who are excited to join our winning team and show promise of becoming a future leader in the reinsurance space.
Specifically, we’re looking for the following qualifications:
- Currently pursuing an undergraduate degree in Business Administration/Commerce, or equivalent program – with a focus on insurance and in healthy academic standing;
- Excellent communication skills – spoken & written, formal/informal presentation;
- Proficient in Microsoft Office Suite, particularly in: Excel, Word, and PowerPoint;
- Mathematical aptitude;
- Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment – particularly in relation to data entry;
- Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance;
- Effective working both independently and as part of a greater team;
- Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive;
- Preference for candidates who have relevant work experience, having already completed at least one placement (or approx. 4+ months in-field experience).
Note that this opportunity is open to both current students who are returning to in-class studies upon the completion of the work term, as well as recent graduates who have obtained their degree within the past year.
Note that only candidates who are selected for interview will be contacted directly.
Thank you for your interest in joining Munich Re.
