VP of Underwriting

1 week ago

Mississauga, Ontario, Canada Ableinsurance Full time

At Able Insurance Brokers, we are committed to empowering our clients with comprehensive, tailored insurance solutions that meet their unique needs. With over 17 years of industry experience, our team of dedicated professionals understands the importance of not just insuring but ensuring peace of mind. Based in the heart of our community, we blend deep local knowledge with a wide range of insurance products, providing both personal and business clients with exceptional service and unmatched expertise.

About the Role:

The VP of Underwriting is responsible for developing, implementing and executing strategic underwriting plan to ensure profitable growth and business flow. This role will consistently foster new market relationships while growing existing programs to align with the company's growth objectives.

They will recommend enhancements to products, risk assessment and processes to improve loss ratios, claims, and drive profitable growth. The VP of Underwriting is responsible for ensuring our broker partners are supported and valued through accurate and timely underwriting of our program's value-added products.

This role requires an individual with a broad range of skills across insurance product knowledge, claims risks, trends and understands insurance product transformation with a special focus on commercial insurance products.

They will work closely with all members of the senior leadership team and pivot as necessary to meet the organizational goals to be the number one MGA in Canada. They will manage and direct the department and will have staff reporting to them, and as such, regular feedback and evaluations will be required.

Reports To: This role reports to the President

Primary Responsibilities:

  • Develop and execute underwriting strategies that align with the company's financial objectives, taking into consideration market and industry trends
  • Grow and maintain business relationships with new and existing broker partners to drive profitable and consistent submission activity 2024
  • Ensuring that underwriting decision-making processes and consultations across all product lines is consistent and considerate of profitability and growth expectations
  • Regularly review and refine underwriting guidelines and procedures to ensure operational efficiency and compliance with regulatory requirements
  • Develop and maintain a robust risk assessment framework in line with industry standards and market conditions
  • Collaborate with all departments to ensure a cohesive approach to underwriting and risk management
  • Conduct ongoing market research to identify industry trends, opportunities and competitive positioning and adjust underwriting strategies as necessary
  • Monitor and evaluate underwriting performance metrics, implementing improvements based on data driven insights
  • Report on underwriting strategies, growth, and performance to executive leadership and key stakeholders
  • Lead, manage and mentor a team of underwriters to foster professional growth and maintain high performance standards through mentoring, training and advising to ensure a high performing department
  • Maintains the highest level of confidentiality of strategic plans, personnel files, and client information
  • Constantly learning and participating in industry events to stay informed and educated on market trends
  • Adhere to all company policies and all insurance regulations
    •

Role Requirements and Qualifications:

  • 10+ years experience in commercial underwriting, brokering, or risk management
  • CIP, CMGA, or equivalent is a must
  • Proven experience in the commercial insurance industry, preferably MGA programs
  • Strong knowledge of the Canadian insurance market and broker networks
  • The individual in this role is to be hardworking, demonstrate strong leadership skills, able to collaborate with all levels of the organization, approachable, and possess excellent communication, interpersonal, and organizational skills
  • Must be detail oriented and have good analytical and decision-making initiative
  • High energy, positive, organized, self-starter
  • Strong work ethic, goal oriented
  • Collaborative team player

Our AODA Statement of Commitment

Able Insurance Brokerages Ltd is an equal opportunity employer that does not discriminate against any employee or applicant based on race, ancestry, place of origin, colour, ethnic origin, citizenship, religion, gender identity, gender expression, creed, sex, sexual orientation, age, record of offences, marital status, family status or disability. Able Insurance is committed to a fair and inclusive work environment. We will endeavor to accommodate the needs of qualified applicants in all parts of the hiring process.

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