Team Leader, Small Business New
5 months ago
Job ID : 7514
Category : Commercial Insurance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Waterloo, Canada
Posting Range : $66,300 - $122,100
Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.
We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.
**What can you expect in this role?**
- Contribute to the profitable growth of Economical's commercial insurance business by implementing standardized underwriting processes and services that meet or exceed broker needs and expectations.
- Manage a team of underwriters and underwriting technicians in Small Business Underwriting Operations who are assigned risks that have a high potential to generate severe losses/gains or high loss/gain frequency, and may have a measurable effect on the overall profitability of the commercial portfolio.
- Manages the day-to-day underwriting operations related to preparing quotes, new business and renewals, change requests, cancellations, etc. for Regional Underwriting Operations, auto and property products within his/her region.
- Ensures that the team implements processes in accordance with underwriting guidelines, standard operating procedures, and Economical's line of business and segmentation strategies.
- Be accountable for contributing to, and managing the execution of, a regional broker relationship management strategy and ensuring that brokers receive exceptional client service in all interactions.
- Work with your leader and direct reports to drive strong performance against service level agreements, productivity levels, profitability targets, and key performance indicators (KPIs).
**People Leadership and Development**:
- Helps build and maintain a culture of high performance and sustained profitable growth by promoting and supporting an environment that encourages productivity, collaboration, teamwork, and a high level of professionalism.
- Participates in strategic workforce management for his/her function including resource planning, retention management, succession planning, recruiting as well as leading and coaching staff.
- Works with direct reports to set individual performance and development goals which align to Economical’s line of business and segmentation strategies, underwriting guidelines, productivity targets and KPIs.
- Develops solutions to achieve profitable growth targets, and coaches others as appropriate.
**Underwriting operational and technical expertise**
- Manages the day-to-day underwriting operations for his/her team of underwriters and technicians.
- Understand and align decision making to Economical's line of business and segmentation strategies.
- Enables appropriate selection, rating, and pricing in the relevant policy case management systems, and ensures that underwriting processes are applied in accordance with standard operating procedures, underwriting guidelines, and line of business and segmentation strategies.
- Ensures that endorsements, renewals, reinstatements and cancellations are examined and analyzed in accordance with our corporate standards and guidelines.
- Demonstrates strong underwriting judgment, deep understanding of products, appropriate rating structures and reinsurance structures.
- Guides underwriters in the analysis of relevant data and reports to effectively determine risk hazards and make accurate policy selection and pricing decisions.
- Oversees the effective negotiation of the terms and conditions of risk acceptance and pricing with brokers.
- Acts as a point of escalation for broker inquires and concerns, and for evaluation and approval of risks.
- Supports the performance review process for rating control, risk selection and data quality.
- Provides direction to the support staff regarding data entry in various underwriting and rating systems.
- Provides input to his/her leader on continuous improvement opportunities for underwriting processes and technologies to drive efficiencies in processing times, decision making accuracy, and reduce errors.
**Customer Experience**
- Oversees the management of relationships of his/her team with brokers and ensures service excellence in broker interactions.
- Identify and proactively address service issues as well as data quality concerns with broker transactions.
- Seeks to add value in every broker interaction and coaches the team on how to do so.
- Builds connections with brokers and clie
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