Manager, Product Development

As a property and casualty insurance specialist for more than 100 years, Saskatchewan Mutual Insurance Company (SMI) seeks opportunities to be the preferred insurance carrier. At SMI, we not only celebrate people, but we are driven by a relentless need to build personal connections resulting in exceptional customer experiences. Join a team that strives to become a beacon of hope in times where people need us the most.

We are very excited to be growing our SMI family. We are on the search for a newly created, permanent, full-time position of Manager, Product Development. Reporting to the Associate Vice President, Underwriting, the successful candidate will provide expertise in managing the development team and leads all projects for new and existing product development. The Manager, Product Development serves as a member of the management team; and contributes to the development of corporate strategy and future planning.

As Manager, Product Development YOU Will Be Responsible For:

• Manages the day-to-day operations of the product development team by providing clear leadership and direction and monitoring key performance metrics.

• Develops a high functioning team; provides support in recruitment, training, work assignments, professional development, and performance management of product development staff.

• Under the direction of the AVP, Underwriting, responsible for the development, maintenance, enhancement, and implementation of insurance products, including writing/revising policy wordings, drafting proposals, and creating other relevant documents such as application forms, and questionnaires.

• Presents new products or innovations to the leadership team.

• Conducts industry research and analyzes competitors’ products and wording changes to ensure comprehensive information is available to support product development decisions.

• Performs analysis of existing products to identify enhancement opportunities and form product development recommendations supported by data and customer driven insights.

• Monitors regulatory changes in applicable jurisdiction and communicates with provincial Superintendents to obtain authorization where required to ensure product compliance with Insurance Acts and other regulation.

• Responds to coverage and wording interpretation inquiries from underwriters and claims personnel.

• Participates in the establishment of product pricing and risk selection criteria to achieve the company’s mix of business targets and underwriting profitability objectives.

• Participates in strategic planning for the Company.

• Acting as a role model who supports a positive organization culture.

What We Need From YOU!

• A Fellow Chartered Insurance Professional (FCIP) designation.

• Five (5) or more years underwriting experience in the property and casualty insurance industry or extensive equivalent insurance experience; coupled with three (3) or more years demonstrated experience in a product development function and three or more years supervising high performing teams.

• Excellent communication, writing and editing skills.

• Demonstrated experience in completing high quality research and analysis and a strong understanding of and experience in insurance product development.

• Extensive knowledge of insurance underwriting principles and practices, business processing operations and the impact of underwriting on the business of insurance. Extensive understanding of product research & development practices.

• A general understanding of business development and insurance distribution channels along with the ability to build strong relationships with brokers and other stakeholders.

• A good understanding of how underwriting profitability impacts overall corporate results and capital requirements. The ability to understand and interpret financial statements and participate in the business planning process.

• Ability to assess, conceptualize and solve risk and rate decisions effectively.

• Detail oriented with a commitment to innovation and design thinking.

• Project management and coordinating skills with the proven ability to handle multiple tasks and make decisions in a rapidly changing environment. Able to set priorities for self and overall department by creating a focus, eliminating roadblocks and knowing what will help or hinder goal accomplishment. Manages project deadlines and assigns work based on employees’ abilities and competence.

• Strong understanding of the underwriting systems functionality and the data warehouse to assist with the development of pricing algorithms, risk selection criteria, drive new initiatives and support processing efficiencies.

• Managerial skills including interviewing and selecting employees, providing constructive feedback, motivating, conducting performance reviews, and training and development.

• Practices a ‘hands-on’ approach when directing employees and empowers employees to be successful through training, developing and coaching. Holds people accountable by ensuring that they meet individual and organizational objectives in an appropriate manner. Monitors employee development plans and ensures alignment with department and Company goals.

WHY SMI?

Come grow your career with a company committed to putting people first. When people join SMI, they are here to stay! At SMI, we take pride in caring for our employees as it is the collaborative efforts of our entire team which will allow us to continue to remain successful today and into the future.

This position offers a competitive salary, a comprehensive benefits package, a fun and inclusive work environment, professional development opportunities and the potential for further advancement within the company.

HOW TO APPLY

SMI is doing amazing things and we want YOU to be part of our team and continued success! If this sounds like the opportunity for YOU, we want to hear from YOU!

Please submit an electronic copy of your cover letter and resume with Manager, Product Development in the subject line.

The posting will remain open until the position is filled. SMI thanks all interested candidates; however, only those considered for an interview will be contacted.