Job Description

Are you a leader or ready to be one?? This is the role for you!!!

 

This role will lead the execution and support the development of the strategic roadmap for the underwriting function across our clients Personal Lines and Travel Insurance portfolios. Leading the underwriting team, you will work closely with the data science, actuarial and product teams to develop products, coverages and customer experiences that will ensure continued success with existing business lines and segments, while building relevance with new customers and markets. In addition to providing operational oversight of the team, this is a strategic level role that will require collaboration with varied business stakeholders at all levels of the organization to work on the evolution of the underwriting function, portfolio risk management and frameworks, underwriting guidelines and approach, risk appetite, wordings, rates and opportunities for growth. You will also support in the placement of reinsurance programs and support the growth and integration of the small business insurance portfolio.

 

Key Responsibilities:

 

Underwriting risk & operations

  • Collaborate with cross functional teams and varied business stakeholders at all levels on a wide range of projects identifying and managing underwriting risk on the home insurance and travel insurance portfolio to ensure sustained profitability of the book.  

  • Lead the ongoing review of products, coverages, wordings, underwriting risk controls, pricing/rating competitiveness and adequacy, highlighting risks and opportunities.

  • Ensure underwriting practices and processes support efficient and profitable sales distribution.

  • Build strong relationships with sales, claims and product functions, soliciting feedback to from recommendations  to grow the portfolio, improve profitability and enhance underwriting policies and procedures.

  • Identify areas of underwriting concern, collaborate with relevant stakeholders, and support communication strategy and content for the sales network and customers.

  • Stay current with insurance industry developments and provide competitive intelligence and strategic recommendations in order to enhance our position and relevance with British Columbians in the market.

  • Oversee the operations of the transactional underwriting team that supports the sales network, and make recommendations to optimize the structure, efficiency, and service levels to support corporate objectives.

  • Lead portfolio management, defining a framework of monitoring to identify and manage risk going from individual segment level to overall catastrophe exposure.

  • Evolve the rules, guidelines and authority levels within the sales network and underwriting team to maximize efficiency and customer experience, while mainting acceptable risk profiles.

  • Oversee the re-underwriting of renewal business, defining and assessing effectiveness of the triggers for review.

  • Lead the overall activities of Underwriting team, including the development of expertise and decision making capability of the team, career pathing and succession planning.

  • Deliver recommendations to business stakeholders at all levels of the organization

 

Technical Product Design and Rating

  • In collaboration with the Product, Actuarial and Data Science teams, play a central role in the research and development of new products/changes to products, coverage design, wordings, underwriting requirements and rates for products.

  • Provide underwriting insight into the risk drivers of product performance trends and make recommendations based on these insights.

  • Ensure the reinsurance implications of product changes are fully accounted for, including implications for reinsurance program limits, making design changes to base product or reinsurance program where necessary to ensure prudent management of catastrophe risk

  • Ensure relevant communication materials and training are adequate, accurate from a risk management perspective.

  • Make recommendations for changes to products and services to manage (or create value from) emerging risks.

  • Ensure digital solutions for self-service are both customer centric and prudently managed from a risk perspective.

  • Determine reporting needs and a regular cadence of review to assess product performance relative to growth expectations and profitability requirements.

  • Identifies trends and recommends appropriate actions.

 

Leadership and People Management

  • Participate in strategic planning for the overall insurance business, providing insight and experience across a range of areas to help shape the future of the business.

  • Lead the conversion of the strategic planning sessions into the operations of the Underwriting function.

  • Establish a reputation as a key collaborator across the different business functions, supporting the strategy and implementation of transformation initiatives.

  • Lead the prioritization, delivery, scheduling, and project management for function specific underwriting projects.

  • Mentor and coach more junior members of the team

  • Lead recruitment within the underwriting team

  • Identify opportunities to develop a pipeline of underwriting talent both inside and outside of the underwriting team, to support succession and growth opportunities

  • Grow expertise and decision making abilities of the underwriting team and promote a customer centric approach to decision making.

  • Create an engaging environment of continuous development of insurance and underwriting knowledge, communication skills, broader business acumen and leadership skills

  • Proactively share knowledge across the organization

 

Regulatory Compliance & Reinsurance

  • Support the strategy, development and placement of our reinsurance program, including the relationship with reinsurance partners and reinsurance broker

  • Provides information and guidance to ensure regulatory compliance with governing legislation (Insurance and Privacy Acts) relating to all products and customers.

  • Addresses compliance issues relating to product features, documentation and marketing practices.  

  • Provides input into the design, sale, and marketing of our insurance products with respect to regulatory guidance and constraints.

  • Stay current with and maintain a resource center of information relating to significant precedents set by litigated claims in the insurance industry, implications of Insurance Act changes and/or relevant changes in the regulatory environment.  

  • Ensures that underwriting exposures are consistent with reinsurance coverage, that reinsurance exclusions are reflected in the base policy, and that no gaps in coverage exist.

 


Qualifications:

  • Education: Bachelor's, Degree in Insurance or Business with CIP or equivalent certification

  • Experience: Minimum 10 years experience in multi-line underwriting, including a minimum of 5 years in a supervisory role

  • OR equivalent combination of education and experience

 

Other Skills:

  • Critical thinking – ability to think strategically

  • Proven analytical and quantitative ability, problem-solving and decision-making skills

  • Communication – Demonstrates strong interpersonal, presentation, and communication skills, both verbal and written - must be able to convey technical details to non-technical individuals and convey business requirements to technical support units.

  • Flexible, comfortable with ambiguity, can adapt to rapid evolution and change

  • A track record of continuous learning

 

If you are this person, reach out now!!

DGA Careers has been proudly serving the Canadian insurance industry for over 35 years, specializing in providing insurance recruiting services to major insurers, insurance brokerage firms and independent adjusting firms. With offices in Toronto, Vancouver, Montreal, Edmonton, and Calgary, DGA Careers is well positioned to conduct searches with a national scope. Our unrivalled professional network across Canada provides us with the ability to reach vital key influencers and passive candidates nationally.

Interested candidates please contact Kanak Deshpande at 778-383-9790 Ext.101 or forward your resume in confidence to kanak@dgacareers.com. If you are working with another DGA recruiter, feel free to ask them about this position.

Job Posting Details

Job Type

Full-Time

Market Segment

Insurance

Company Type

Recruiting Consultants

Languages Required

English

Education Required

CIP
CIP Partial Completion
University Degree

Minimum Experience Required

11 or more Years

Salary (annually)

from $120,000 to $140,000

Views

125