Manager of Underwriting, Commercial Insurance

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Manager of Underwriting, Commercial Insurance

WHY ECONOMICAL?

Because a changing industry calls for a new way of doing things. An ambitious, innovative and fast-paced company, we offer exceptional training and development programs, competitive pay, great benefits, company-matched RRSPs, and paid volunteer days — all within an engaging, fun, and collaborative work environment.

Founded more than 145 years ago, Economical is one of Canada’s leading property and casualty insurance companies. We rely on our national network of more than 800 independent brokers to sell a range of car, home, business, and farm insurance solutions. With Sonnet and Petline, we’re extending our reach through the direct-to-customer channel. With more than 2,400 active employees across the country and a commitment to rethinking the insurance experience, we’re poised for great things.

We’re now adding to our high-performance team to take us into the future. Let’s rethink insurance, together.

Your Responsibilities:

  • 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 we are looking for:

  • 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

Your Skills and Experience:

  • Post-secondary education and/or equivalent on the job experience in a pertinent domain
  • Relevant Commercial underwriting experience, including 2+ years of leadership experience managing a team of underwriters
  • CIP designation or a commitment to completing CIP 
  • 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

At Economical, we all work together to come up with big ideas — then bring them to life. We focus on our customers first, we bring our best, and we’re stronger together. If you’ve got the passion and the desire to help us reinvent insurance, let’s talk.

HOW TO APPLY

Create a general profile here. To complete the online application process, you’ll need to upload your resume before you apply for the role you’re interested in. Please note that only one document can be uploaded, so be sure to combine your resume and cover letter.

We are committed to providing an inclusive work environment that welcomes diversity and supports accessibility across the organization. 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.