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18 Nov 2021

Full-Time Manager, Underwriter Financial Lines

Insurance Career Network – Posted by Monica Toronto, Ontario, Canada

Job Description

Our client is committed to doing the right thing because it is the right thing to do.  A specialist insurer with three decades of experience in providing clients with the highest standards of underwriting and claims service worldwide. All their insurance businesses are rated A (Excellent) by A.M. Best.

Role Overview:

To underwrite a Canadian Financial Lines account within the International Specialty Lines team and provide counsel and advice on underwriting and market issues. Provide technical expertise in this business area and maintain and improve market reputation of the Company brand.

Key Responsibilities: 

Underwriting

  • Develop and underwrite a profitable portfolio of Canadian Financial Lines business – predominantly focused on Financial Institutions and Commercial D&O within the mid to large account space – as part of the International Specialty Lines team.
  • Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
  • Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
  • Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
  • Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Canadian Financial Lines account.
  • Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines.
  • Comply with Company’s underwriting control standards.
  • Develop a good working relationship with the claims managers on this class of business.

Client Management

  • Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
  • Foster positive relationships with clients to get a mutual understanding of both their and Company’s needs.
  • Maintenance of good business relationships with brokers.
  • Maintain awareness of overall Company product range and take advantages of opportunities to introduce other products to clients.

As a Manager, you are expected to –

  • Provide leadership, direction and support to the team.
  • Foster a spirit of inclusion, teamwork and unity that reflects Company’s overall workplace culture, values and appreciation of the benefits of diversity.
  • Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential and ensure continuous development of them and their wider team.
  • Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.
  • Provide effective performance feedback on a regular basis, ensuring employees are recognized and rewarded for their contribution.  Conversely, providing timely feedback to address poor performance, taking disciplinary action as appropriate.
  • Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.
  • Encourage knowledge sharing and effective delegation to minimize key person dependencies.
  • Work with other team managers ensuring team resources overall are effectively utilized and people are appropriately challenged.
  • Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.
  • Work with Culture & People as appropriate to escalate performance concerns ensuring set objectives are clear and measurable and progress is tracked accordingly.

General

  • Leverage networking opportunities within the business to develop standardized underwriting policy and best practice within Company.
  • Develop best practice and disseminate business and class knowledge within the Canadian Financial Lines and International Specialty Lines teams.
  • Work with peers within Financial Lines and International Specialty Lines to maximize business opportunities and profitability within the department.  This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
  • Share and gather knowledge within the Group to ensure dissemination of best practice and maximize business opportunities and profitability across the Group.
  • Production of presentations and marketing literature as required.
  • Production of business plans/research documents for the Canadian Financial Lines account as required.

Personal Specification:

Skills and Abilities

  • General commercial and financial knowledge
  • Possess underwriting ability 5-10 years
  • Accurate and numerate
  • Computer skills – good working knowledge of MS Office, advanced Excel skills
  • Strong analytical skills with attention to detail
  • Able to communicate effectively with others, both verbally and in writing
  • Motivational skills, team worker as well as able to work on own initiative
  • Ability to manage time, meet deadlines and prioritize

Knowledge and Experience

  • Experience of Financial Lines underwriting
  • Good knowledge of the Canadian market
  • Thorough knowledge of underwriting policy, philosophy and practice
  • Advanced knowledge of underwriting processes and systems
  • Client service experience

Aptitude and Disposition

  • Results focused, self-motivated, flexible and enthusiastic
  • Professional approach to interact successfully with managers/colleagues/external suppliers

Competencies

  • Achievement drive
  • Analytical thinking
  • Strategic thinking
  • Service focus
  • Team working
  • Team leadership
  • Conceptual thinking
  • Forward thinking

How to Apply

Insurance Career Network is a recruitment firm focused exclusively on the insurance industry.  Our relationships, knowledge and leading experience enable us to connect leading insurers, brokerage firm and independent adjusting firms with the most talented candidates for each role. Since 1991, we have been building and nurturing relationships and with over 13,000 registered candidates, we can tap into our highly technical experience for our clients.  Our recruiters come directly from insurance related positions and bring a wealth of knowledge to each recruitment assignment. TO APPLY: Register and submit your resume to monica@insurancecareernet.com or call Monica  for more information 416 703-5120 ext 201

Job Categories: Manager Commercial Lines. Job Types: Full-Time.

Job expires in 22 days.

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