Manager, Commercial Underwriting
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Job ID : 6941
Category : Commercial Insurance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Montreal, Canada
Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, Definity has grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
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 contributing to, and managing the execution of, a Regional Broker relationship management strategy and ensuring that Brokers receive exceptional client service in all interactions.
- 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.
- 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.
- 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.
- Oversees the management of relationships of his/her team with Brokers and ensures service excellence in Broker inter.
- Builds connections with brokers and clients to ensure that they are the recipient of targeted and efficient sales activities.
- Effectively engages with Brokers to recommend Economical as the insurer of choice.
- Manages execution of the Broker relationship management strategy for his/her team.
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. High degree of proficiency with English required to service customers, both internal to the company and external, across Canada.
- 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, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
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: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).