Job title: Executive Underwriter

Company: Northbridge Financial Corporation

Job description: We’re Northbridge Insurance. We’re proud to work with Canada’s most trusted commercial broker networks. We have a reputation for being one of Canada’s leading commercial insurance providers. Our employees are dedicated to understanding the needs of our customers and creating solutions that help Canadian businesses have a safer and brighter future. We’re a company of passionate people who put people first. Do you want to join a team that believes in working hard – and having fun at work – all while making a difference? Look no further than Northbridge.

The Executive Underwriter is responsible for underwriting and servicing highly complex and unique portfolios in accordance with established guidelines and business objectives in the achievement of national standards for data quality and service levels. The Executive Underwriter will be expected to solve highly complex problems by applying a breadth of expertise to identify innovative solutions and also in interpreting internal and external business issues and recommending best practices. In addition to underwriting responsibilities, this position is responsible for the mentorship and training of all underwriting staff within the region, ensuring best practices and guidelines are understood and applied.

KEY ACCOUNTABILITIES:

Underwriting:

Execute renewal rate and exposure, retention, and rate adequacy guidelines.

Responsible for the successful evaluation, documentation, selection, negotiation, and pricing for assigned policies in order to ensure a profitable book of business within established underwriting authority

Refer and redirect requests for pricing decision and risk selection for risks beyond personal authority, along with recommendations.

Ensure endorsements, renewals, reissues, and cancellations are reviewed and analyzed in accordance with standards and guidelines.

Analyze new business for risk profitability by assessing exposures and hazards as determined by review of underwriting data and referring as required.

Monitor trends and developments identifying areas of concern regarding loss ratios, risk trends, or other discrepancies.

Understand and apply best business practices towards compliance, internal control and operational risk controls in accordance to national standards and regulatory standards and policies.

Maintain working knowledge of all Information Systems/Programs within underwriting, and analyze/recommend improvements to work processes and procedures.

Identifies, investigates, and develops new business/expansion opportunities for assigned segment.

Evaluates, selects and establishes/negotiates proper rate and ITV levels for risks in order to ensure a profitable book of business within established underwriting guidelines.

Develop and maintain a knowledge and understanding of company operations and procedures.

Maintain the long term profitability of a significant portfolio of accounts regardless of market conditions. This includes the ability to successfully negotiate terms, conditions and pricing to achieve new business, renewal and profitability targets.

Conduct price monitoring, risk selection and data quality performance reviews.

Oversee the completion of file reviews and participate in audits as required.

Sales/Negotiations:

Develop and maintain a professional relationship with brokers and/or customers to enhance understanding of the target market and to contribute to quality service, problem solving, and risk selection.

Collaborate with brokers and customers to assist in business retention and customer satisfaction through regular interactions, including in person interactions.

Investigate customers’ risk factors relative to corporate pricing approach to gain support, agreement and enhance relationships.

Participate in the communication and education of brokers concerning the corporate underwriting philosophy, policies, and procedures as required.

Maintain knowledge of industry trends, developments, and regulatory changes including competitive analysis and information, and ensure all necessary broker management systems are updated and current.

Provide quality customer service to assigned brokers including clarification of coverage, wordings, and claims history.

Understand and adhere to service standards in accordance with company guidelines.

Forge new business relationships and solicit new business opportunities.

Coaching/Mentoring:

Mentor and train less experienced underwriters

Provide support staff with clear instructions and explanations for data entry to ensure accuracy and service standards are maintained.

Support the completion of peer file reviews and audits.

Act as a resource on risks outside of the authority level for less experienced Underwriters, and authorize risks within own established authority levels.

Provide training, development, and technical guidance to colleagues regarding products, systems, and processes as required.

Collaborate with and support corporate underwriting teams in the development of products and pricing strategies to achieve profitable growth.

Coach and counsel underwriters in respects to risk evaluation, rating and the implementation of internal procedures.

Assess staff training and development needs and provide recommendations for training opportunities to build a competent staff capable of performing all underwriting functions within the unit.

Operational Leadership:

Provide input to their Manager/Division Head and/or Corporate Underwriting on various underwriting, strategic, staffing and other issues as requested.

Assist in developing Underwriting guidelines and procedures.

Consult with Corporate Underwriting regarding development of new products and changes to existing policy wordings.

Other:

Work collaboratively on special projects and assignments when required.

Other duties as assigned.

QUALIFICATIONS:

Post-secondary school education and/or equivalent on the job experience.

Completion of the CIP and/or FCIP designation.

Minimum 10 years experience in the property and casualty industry

Working knowledge of company underwriting philosophy, policy contracts, rating programs, risk information sources, underwriting/technical manual information, statuary constraints, and computer workflow procedures.

Ability to work within and adapt to PC oriented environments, including familiarity with e-mail and Internet skills. Working knowledge of Microsoft Office.

Fluently bilingual (English / French) is a definite asset (a requirement in Quebec Region).

Sound knowledge and understanding of underwriting discipline and pricing models.

WORKING CONDITIONS:

Indoors in normal office environment with little exposure to excessive noise, dust, fumes, vibrations, and temperature.

Frequent computer use at workstation.

Infrequent travel to visit clients, brokers, industry events and attend off-site training workshops.

Customer visits may require suitable clothing for heavy weather and dirty or oily environments.

The pay range for the role in Vancouver is $90,000 – $125,000..

• Actual pay may be below, or above range based on candidates’ knowledge, skills, and level of ability relative to expectations for the role applied to. Candidates with salary expectations outside of the range are encouraged to apply.

#LI-NW1 #L1-hybrid

At Northbridge Financial we embrace and celebrate you and are committed to creating an inclusive workplace for all! No matter who you are or what makes you unique, we welcome you. Please let us know how we can assist or accommodate you during the selection process.

Expected salary: $90000 – 125000 per year

Location: Vancouver, BC

Job date: Wed, 13 Dec 2023 23:58:04 GMT