2024 Underwriters of the Year | Tamara Bagnell, Senior Commercial Underwriter, Intact Insurance

Tamara Bagnell’s insurance journey reflects her passion for an industry that’s seen her grow her career from summer student to senior underwriter.

Bagnell first joined the industry 14 years ago, supporting RSA’s facility department as a summer student. Over the years, she obtained her CIP designation and navigated various advancing commercial insurance roles — from underwriting assistant and junior underwriter to where she is today.

When she’s not working, Bagnell enjoys reading, solving puzzles, watching Bravo, and spending time with her two young children. 

She feels honoured to be recognized for her efforts by Bauld Insurance, a broker member of the Canadian Broker Network, Canada’s largest network of independent brokers.

Q: What makes a great underwriter-broker working relationship?

“It’s all about balance and a conscious effort to actually build the relationship. While we may not always be able to provide the answer a broker wants to hear, going the extra mile to review requests thoroughly, or offer alternative solutions, can go a long way in strengthening the relationship — even if the final decision doesn’t match the original request.”

Q: Why did you become an underwriter, and what do you love most about your role?

“I wanted to progress in my career. Moving from UA roles into underwriting felt like the next logical step. What I love most about the role is witnessing the continuous evolution of the business. There are always new business ideas and innovations being created, which I never would’ve anticipated coming in as new business. It keeps the work exciting and dynamic.”

Q: What’s the biggest challenge for underwriters in P&C currently, and one thing they can do to overcome it?

“Navigating economic pressure. More than ever before, people are extremely price sensitive. Coupled with a softening market, this has led to challenges in obtaining and retaining new business. Companies must focus on creative solutions, like reviewing rates and exploring classes of business that have improved since the last rate implementation, to bridge the gap and remain competitive.”

Q: What’s one opportunity you think underwriters should focus more on in today’s marketplace?

“Underwriters should prioritize maintaining human interaction and building relationships with brokers. We all get busy and often overwhelmed by the nature of the job, so it’s easy to focus only on processing and ticking things off our lists. But we may fail to remember to reach out to brokers via phone or have broker meetings to connect and foster that relationship.”

Q: Given the current talent shortage, what would you say to encourage people to join the industry?

“I would highlight the diverse job opportunities within the industry. When I first started in insurance, I had very little idea there were so many job opportunities available. Only a few years in did I learn about the many career growth pathways and specializations.”

Q: How do you see technology, including AI, impacting the role of underwriters in the coming years?

“Technology, especially AI, will bring efficiencies to underwriting in the future. I anticipate that AI will impact junior and entry-level roles, which, in turn, will shape the progression and learning curve for those moving into more advanced underwriting positions.”

 

The Canadian Broker Network Underwriter of the Year awards is a flagship program that CBN has been running on behalf of its members since 2017. The program is exclusive to CBN in partnership with Canadian Underwriter magazine. The categories allow for each of our member firms, at their option, to select one commercial lines underwriter winner as well as one personal lines underwriter winner from a primary market. The program evolved in 2021 to also allow for one commercial lines underwriter from an MGA in addition to the other two categories. The criteria includes underwriting excellence and risk knowledge; prompt and effective responsiveness back to CBN members; writing business that satisfies clients’ needs while creating a win-win for the broker and the insurer; a positive, helpful attitude; and investing time to develop trusting relationships with brokers.

Full list of 2024 Underwriters of the Year Award