SD - Commercial Pricing and Underwriting

6 months ago

Mississauga, Canada Beneva Full time

Job Posting Title:
SD - Commercial Pricing and Underwriting

Status:
Regular

**Job Description**:
DEPARTMENT: Commercial Insurance

REPORTS TO: Vice President, Commercial Insurance

STATUS: Permanent, Full-Time

Reporting to the Vice-President, Commercial Lines, the incumbent will need to be strategic, innovative, and collaborative, offering their expertise as well as leading the overall development and ongoing management for our Actuarial and Corporate Underwriting Departments for the Province of Ontario. In addition, they will organize and oversee activities related to the pricing of personal and commercial automotive lines. They will work collaboratively with colleagues in Ontario and in other provinces to set rate levels and segmentation for commercial products in Ontario and will be responsible for managing the process of accepting complex risks for commercial business.

Summary of Role & Responsibilities:

- Sustaining rate to ensure profitability, retention, and growth of the business for personal and commercial automotive lines as well as commercial property and liability insurance
- Develops and supervises the various actuarial studies required to establish the level of these rates
- Organizes pricing committees, prepares recommendations regarding pricing policies, rate changes
- Follows the evolution of the market and the movement of competitors
- Ensures that the rates to be implemented can be supported by the market and will meet the company's growth and profitability objectives
- Monitors the results obtained after their implementation in terms of sales, retention, and profitability
- Conducting various impact studies
- Analyzes the impact of various legal or other changes on the company's results
- Evaluates the impact of changes in underwriting and claims settlement policies on the company's data and results
- Approving complex or out-of-authority underwriting cases
- Supports and advises its resources as well as the leaders of the operational teams in terms of underwriting by providing explanations on the processes used, risk exposure and develops possible solutions
- Manages the entire approval process for non-authority files. Ensures compliance with service deadlines and the quality of interventions and by authorizing files under their authority or, where applicable, by presenting them to senior management
- Oversees the underwriting authority levels for underwriters to mid-management
- Leads the team responsible for the quality control process while ensuring the implementation of action plans when necessary
- Participates in the risk analysis and underwriting of large and complex accounts and makes recommendations for underwriting, acceptance, or refusal of risk
- Ensures compliance with operating budgets and policies
- Collaborates in policy development and review
- Manages the preparation of objectives, plans, and budgets the department
- Directs and advises employees under their supervision in their daily activities and ensures the effective organization of the department's activities
- Takes responsibility for motivating and empowering employees on their team
- Manages the process of evaluating employee performance
- Develops objectives (projects) and strategies for their department, monitors the projects or mandates carried out by the members of the team
- Organizes and conducts information meetings for the team
- Oversees the recruitment, selection, training, and development of the team to achieve our corporate objectives
- Participates in the strategic orientations of the Vice-Presidency of Personal and Commercial Insurance

Necessary Knowledge, Skills, and Attributes:

- Sound business judgement
- Ability to obtain buy-in
- Relationship building skills
- Taking ownership of a challenge and ability to come up with actionable strategies
- Solid project management skills including communication, organization, and execution
- Professional, friendly, and courteous in all interactions

Education and Experience:

- University degree in Actuarial Science or a relevant discipline
- Fellowship with the Casualty Actuarial Society and the Canadian Institute of Actuaries, an asset
- Minimum 10 to 15 years of relevant Commercial Lines Pricing experience and a minimum of 5 to 10 years leading teams

Unica Insurance is committed to providing a diverse, inclusive work environment free of all forms of discrimination, including discrimination on the basis of physical or mental disability, or medical condition. If you are interested in pursuing a job opportunity with Unica Insurance, and require accommodation, please advise us so that we can work with you to provide suitable accommodation in the recruitment and selection process. Unica Insurance is an equal opportunity employer. We evaluate qualified applicants without regard to race, colour, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.

LI-ENG

LI-Hybri

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