Company: Munich Re
Location: Toronto, ON
Expected salary:
Job date: Wed, 07 May 2025 02:03:45 GMT
Job description: POSITION: Underwriting Co-op, Property & Casualty (2025 Fall – Toronto, 8 or 12 months)
LOCATION: Toronto, ON
DURATION: 8 or 12 Months
ANTICIPATED START DATE: September 2, 2025
NUMBER OF POSITIONS: 1
APPLICATION DEADLINE: TBDTogether, 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. Operating worldwide, the Munich Re Group and its business units provide insurance solutions of varying degrees of risk and complexity across a wide range of lines of business. Our consistent risk management approach, technical knowledge, financial stability, and client proximity make us a sought-after, trusted business partner. We offer a full range of traditional risk-transfer solutions through Property and Casualty insurance, as well as 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 insurance 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, with the expectation of being in the office 50% of the time and the remaining days working from home. Students are expected to adhere to this policy 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
Working within the Facultative Underwriting team, 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.Job Responsibilities
Work term responsibilities will include, but not be 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;
- Assist property treaty underwriters in analyzing client submissions and underwriting functions;
- Analyze inspection and loss control reports;
- Map out property and auto fleet schedules for rating purposes;
- Prepare reports as may be required in Excel, Word, and PowerPoint formats;
- Review facultative policy documents and wordings;
- Request account information and follow-up for missing information;
- Partake in luncheons with facultative underwriters and clients;
- Investigate, follow-up, and contact clients regarding account discrepancies, payments, and other inquiries as necessary via email;
- Carry out research for client events, and promotional materials/products;
- Assist department underwriters and managers, as required.
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:
- Currently pursuing an undergraduate degree in Business Administration/Commerce, or equivalent program -a focus on insurance and healthy academic standing is preferred;
- 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 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.
