Manager of Underwriting, Commercial Insurance

Job title: Manager of Underwriting, Commercial Insurance

Job description: Manager of Underwriting, Commercial Insurance

LOVE WHAT YOU DO

Work is a big part of our lives, so it makes sense to choose a company that offers truly rewarding work. At Economical Insurance®, your contributions, creativity, and energy won’t go to waste. Our passionate culture and pioneering mentality infuse everything we do, which is why our one-million-plus policyholders know we’ll protect their homes, businesses, farms, cars, and pets like they’re our own.

We’re not afraid to see how far we can push the envelope to make insurance better. Our family of companies includes Sonnet, the only Canadian home and auto insurer offering a fully online buying experience, and Petline, the largest Canadian pet insurance company. We’re also preparing to become a publicly traded company, a once-in-a-lifetime career opportunity for everyone who joins our team.

If you’re looking for a company that takes care of its people – and its customers – and has a track record of doing big things, get ready to love it here.

What can you expect in this role?

• Contribute to the profitable growth of Economical’s Commercial Insurance business by implementing standardized Underwriting processes and services that meet or exceed Brokers’ needs and expectations.
• Manage a team of underwriters in the Regional Underwriting Operations who are assigned risks that have a high potential to generate severe losses/gains or high loss/gain frequency, and may have a measurable effect on the overall profitability of the Commercial portfolio.
• Be accountable for the team’s selection and proper rating of all Commercial insurance transaction types (e.g., applications, endorsements, renewals, cancellations, voids, reinstatements, etc.).
• Ensures that the team implements processes in accordance with Underwriting guidelines, standard operating procedures, and Economical’s Line of Business and segmentation strategies.
• Be accountable for contributing to, and managing the execution of, a Regional Broker relationship management strategy and ensuring that Brokers receive exceptional client service in all interactions.
• Within established Underwriting authority and service levels, facilitate the team’s escalation of market intelligence.
• Work with your Director and Direct Reports to drive strong performance against service level agreements, productivity levels, profitability targets, and key performance indicators (KPIs).

People Leadership and Development:

• Helps build and maintain a culture of high performance and sustained profitable growth by promoting and supporting an environment that encourages productivity, collaboration, teamwork, and a high level of professionalism.
• Participates in strategic workforce management for his/her function including resource planning, retention management, succession planning, recruiting as well as leading and coaching staff.
• Works with Direct Reports to set individual performance and development goals which align to Economical’s Line of Business and segmentation strategies, Underwriting guidelines, productivity targets and KPIs.
• Develops solutions to achieve profitable growth targets, and coaches others as appropriate.

Underwriting operational and technical expertise

• Manages the day-to-day underwriting operations for his/her team of Underwriters.
• Understand and align decision making to Economical’s line of business and segmentation strategies.
• Enables appropriate selection, rating, and pricing in the relevant policy case management systems, and ensures that Underwriting processes are applied in accordance with standard operating procedures, Underwriting guidelines, and Line of Business and segmentation strategies.
• Ensures that endorsements, renewals, reinstatements and cancellations are examined and analyzed in accordance with our corporate standards and guidelines.
• Demonstrates strong Underwriting judgment, deep understanding of products, appropriate rating structures and reinsurance structures.
• Guides Underwriters in the analysis of relevant data and reports to effectively determine risk hazards and make accurate policy selection and pricing decisions.
• Oversees the effective negotiation of the terms and conditions of risk acceptance and pricing with Brokers.
• Acts as a point of escalation for Broker inquires and concerns, and for evaluation and approval of risks.
• Supports the performance review process for rating control, risk selection and data quality.
• Contributes to the training and development of Underwriters, and provides technical expertise as well as counsel on products, systems and processes.
• Provides direction to the support staff regarding data entry in various underwriting and rating systems.
• Provides input to his/her Director on continuous improvement opportunities for Underwriting processes and technologies to drive efficiencies in processing times, decision making accuracy, and reduce errors.

Customer Experience

• Oversees the management of relationships of his/her team with Brokers and ensures service excellence in Broker inter.
• Identify and proactively address service issues as well as data quality concerns with Broker transactions.
• Seeks to add value in every Broker interaction, and coaches the team on how to do so.
• Builds connections with brokers and clients to ensure that they are the recipient of targeted and efficient sales activities.
• Is aware of the latest industry trends, new laws, changes to the laws, and information and analysis on competitors; ensures that all broker management systems are up to date.
• Participates in studies and in market reviews, and develops business cases for proposed new products or for changes or enhancements to product suites.
• Effectively engages with Brokers to recommend Economical as the insurer of choice.
• Manages execution of the Broker relationship management strategy for his/her team.

Program and Change Management

• Actively champions strategic change initiatives within Regional Underwriting to build understanding and buy-in within the Regional Underwriting team.
• Provides insight, information and recommendations related to Underwriting service delivery and broader organizational and/or enterprise continuous improvement initiatives, as needed, to manage internal relationships with stakeholders.
• Acts as a primary voice to his/her team for communicating relevant changes to Regional Underwriting, including process and technology changes.
• Promotes internal and external stakeholder understanding of the Regional Underwriting operating model, functional components, and processes.

What do you bring to the role?

• Post-secondary education and/or equivalent on the job experience in a pertinent domain
• 2 years or more of experience in people leadership in either the financial or insurance sector, focusing on client/B2B relationship management
• Relevant Commercial underwriting experience would be considered an asset
• CIP designation or a commitment to completing CIP would be considered an asset
• Strong customer service orientation, excellent verbal and written communication skills
• Highly motivated and enthusiastic
• A problem solver with strong negotiating skills and ability to maintain business relationships
• Ability to work within and adapt to PC oriented environments, including advanced knowledge of Microsoft Office
• Strong conflict resolution skills
• Fully Bilingual (French / English) is a requirement.
• Experience in underwriting professional lines, automobile or agriculture insurance is an asset
• Demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives
• A strong team player with outstanding collaboration and communication skills
• Proven ability to develop and nurture successful working relationships with our brokers, customers and other internal and external stakeholders
• Emotional empathy and ability to persuade and influence decisions, gaining agreement or support in sensitive issues
• An ability to work both independently and as part of a team while meeting meaningful deadlines
• An ability to work with a long-term perspective in finding mutually beneficial solutions to broker or business area issues
• Demonstrated commitment to ongoing professional and technical development

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Go ahead and expect a lot – you deserve it.

We offer:

• Competitive salaries, with potential for an annual raise and bonus
• Pension and savings programs, with company-matched RRSP contributions
• Generous time away, including vacation and personal needs days
• Paid volunteer days and company matching on charitable donations
• Educational resources, tuition assistance, and paid time off to study for exams
• Two annual wellness campaigns – participants earn up to $300 each year to spend on almost anything supporting health and work-life balance (think things like spa days, daycare, pet grooming)
• An unlimited employee referral bonus program
• Flexible work schedule
• Discounts on products and services

HOW TO APPLY

To complete the online application process, you’ll need to upload your resume and cover letter in one document.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: hrsharedservices@economical.com.

Visit economical.com to learn more about us and what we’re up to.

Click Here to Apply

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