Commercial Insurance - Underwriting
The Commercial Portfolio within Suncorp Commercial Insurance caters for clients across a broad range of industry segments and insurance risks. Backed by our size and stability, we are renowned for our expert underwriting, insurance solutions and superior claims management. Our products and services are available through intermediated and direct channels.
One of our core functions is to fully understand and analyse the risks of our customers. We apply our specialist insurance expertise and use the experience and scale of the Suncorp Group to provide appropriate insurance solutions and prices.
Within our Commercial Portfolio, our underwriting teams have responsibility for product design and development, underwriting procedures and pricing and overall portfolio profitability. Products range from professional risks like professional indemnity and directors’ and officers’ liability, business insurance for small to medium sized enterprises (SMEs), corporate property, commercial motor and specialty classes like construction, engineering and marine. Our customers range from micro-businesses and sole traders to large global corporations.
Core functions of a commercial insurance underwriter
Successful underwriting requires teamwork, relationship management and demands close attention to detail. You are likely to be involved in gathering and assessing information, collaborating with internal stakeholders, studying proposals, calculating possible risk and ultimately weighing up the likelihood of a claim being made and in what timeframe.
Underwriters decide whether the risk is viable and calculate the cost of insurance. You might also find yourself liaising with risk specialists and engineers, negotiating terms with policyholders or brokers, specifying conditions for certain types of cover, and drawing up policies and contracts.
Once qualified as an underwriter your role will be to achieve profitable growth of the portfolio you are supporting through high quality underwriting procedures and superior customer service.
Underwriting Graduate Development
To help you actively build your performance our development program will offer:
- The opportunity to complete a Financial Services industry qualification
- Rotations in various portfolios across the Commercial Portfolio and Underwriting Management division as well as in divisions across Commercial insurance to give you exposure to Claims, Distribution and Finance.
- A career development plan including regular mentoring sessions with your leader
- Professional development activities to build your foundation skills (e.g. client management, communication) and business acumen
- A leadership team which encourages innovation and listens to your ideas and initiatives
- A Mentor who will help guide your transition into the corporate environment, challenge your thinking and support your career development
- A Buddy to help you 'learn the ropes'. They'll help you to understand your role and meet new people
- Access to the broad graduate community and events of the Suncorp Group
- Suncorp Business Community Events
Graduate Program Learning Pathway
Graduate Program Learning Pathways provide learners with structured, targeted and supported learning experiences to enhance their career at Suncorp. These Pathways take advantage of technology, experience and traditional techniques to create high quality, accessible, optimal learning results.
Structured – Learners will be provided with an individual plan for their development, a ‘Learning Pathway’ via the Learning Management System (LMS). This outlines what learning steps are required to progress in their career development, and are sequenced to build on a learner’s skills and knowledge.
Targeted – Using a combination of highly skilled business and learning experts, learning opportunities are provided that are ‘role specific’ designed to integrate with the graduate experience.
Supported – Through leaders, experts and the CI Learning Campus, we will provide valuable support to learners and a range of learning opportunities that include: instructor-led sessions, online learning, on –the-job coaching and buddying and self paced study options.
Culture
Commercial Insurance is facing an exciting future with a clearly defined strategy for growth and leadership in the market. Our culture is built on teamwork, customer and results focus, innovation, and working together to achieve our goals. Our people and their expertise are critical to achieving our goals and we aim to develop our people as leading professionals through effective learning opportunities and succession planning.
Program Duration
The Underwriting Graduate Program will run over 24 months, with a mixture of 6 month and 3 month rotations in different divisions across the business. You'll have the opportunity to gain some practical experience in some of the following areas:
- Underwriting Teams including Property, Commercial Motor, Specialty Classes, Casualty (Professional Risks) and SME
- Commercial Claims
- Intermediated Distribution
Locations
Sydney and Melbourne
We are seeking students studying degrees in:
- Engineering
- Mathematics
- Law
- Accounting & Finance
- Economics
- Commerce
We want to talk to graduates who have had academic success, but we're also interested in your contribution to the community and past experience. To be successful, you need to show initiative and the ability to work in a dynamic and changing environment. You must be detail-focussed, possess good judgement with solid analytical skills. Teamwork and customer-focus is vital so solid interpersonal and communication skills are a must.