Underwriting Manager - Manufacturing & Resources

Underwriting / Souscription Toronto, Ontario


“The Power of Together”

Join Northbridge, a growing dynamic company that has a long and rich Canadian history in providing innovative insurance solutions to customers nationwide.

Northbridge Financial Corporation is a leading commercial property and casualty insurance company that’s been helping protect Canadian businesses for more than 90 years. We’re 100% Canadian!

We offer a wide range of creative solutions to our customers through our Northbridge Insurance, TruShield Insurance and Federated Insurance brands where we strive to create a fair and friendly culture, upheld by the foundation of our five corporate values: respect, passion, connectedness, creativity, and excellence.

By continually striving to challenge the status quo, and by focusing on helping the customers we have the privilege of insuring achieve the possibilities of their business, we’ve been able to build our reputation as one of Canada’s largest commercial insurance providers.

To help us continue to build on this success, we’re committed to attracting, developing and retaining the best people.

Be part of a team that’s passionate about making a difference every day, fuelled by our entrepreneurial spirit and where everyone owns a part of our success. Our company has had an amazing journey so far, and our future is full of new possibilities!

Located in the heart of Toronto’s Financial District, our head office is easily accessible by TTC and GO Transit, and within walking distance to the Eaton Centre, Air Canada Centre, Rogers Centre, and CN Tower. As a national property and casualty commercial insurance provider, we also have offices across Canada.

Position Summary 

The Underwriting Manager is responsible for the management of underwriting staff and the execution of the operational business plan and rate adequacy, risk selection, data quality and service levels. The incumbent is also responsible for the achievement of regional goals for profitability and the production of desirable business.

What you will be doing:

Underwriting:

  • Implement 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.
  • Participate in audits as required.
  • 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.
  • 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.
  • Responsible for the successful management and pricing of designated portfolio of accounts.
  • Fully supports and understands corporate and Regional financial and underwriting goals and objectives and ensures all underwriters are knowledgeable as to these goals and objectives.
  • Oversee the completion of file reviews and audits.

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.
  • 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. 
  • Develop relationships with brokers to ensure the delivery of efficient and focused targeted sales activities to brokers.
  • 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.
  • Participate in problem resolution between brokers and underwriting staff.
  • Ensure that product changes or enhancements are communicated to brokers and/or customers in a timely manner.
  • Participate in market research and analysis, and participate in the development of business cases for proposed new products or product lines changes or enhancements.
  • Forge new business relationships and solicit new business opportunities.
  • Review broker evaluations, analyze results and maintain a complete understanding of  brokers and/or customers.

Coaching/Mentoring:

  • Mentor and train less experienced underwriters and support staff.
  • 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.
  • Provide effective daily leadership, coaching and motivation of staff to ensure service and quality objectives are met.
  • Provide individual and team feedback for the purpose of coaching staff to meet or exceed planned results in the areas of price adequacy, risk selection, data quality, and service levels.

Operational Leadership:

  • Provide input to their Manager or Division Head on various underwriting, strategic, staffing and other issues as requested.
  • Develop and maintain a knowledge and understanding of company operations and procedures, including demographic, economic, and social characteristics to increase market share.
  • Consult with Corporate Underwriting regarding development of new products and changes to existing policy wordings.
  • Develop and execute the unit/region business plan, and ensure strategies contribute to corporate objectives.
  • Maintain knowledge of the competitive market, and participate in the development of business cases for proposed new products or product lines changes or enhancements.
  • Direct the introduction and communication of rating and exposure strategies, coverage and/or product changes in a timely manner.
  • Provide input to the Director on various underwriting, strategic, staffing and other issues as requested

Managing:

  • Assist in the training and development of staff, and provide technical expertise and advice regarding products, systems, and processes.
  • Manage new and existing account underwriting workflows.
  • Monitor staff production on an on-going basis to ensure standards are being met.
  • Responsible for resource and workload planning and organization.
  • Manage the hiring, development, retention, reward, and motivation of staff in the unit/region.
  • Complete annual performance objective planning for direct reports and teams.
  • 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.
  • Ensure team and Regional service level goals are met and maintained.

Other:

  • Work collaboratively on special projects and assignments when required.
  • Other duties as assigned.

What sets you apart:

  • Demonstrated proficiency at managing multiple and changing priorities/projects, and delivering results.
  • Demonstrated commitment to ongoing professional and technical development.
  • Ability to focus on the broker and customer needs, ensuring a high quality of service is provided.
  • Demonstrated commitment to high standards of performance and goals.
  • Demonstrated verbal and written communication skills
  • Demonstrated presentation skills.
  • Ability to foster and build good long-term working relationships with brokers, customers and business areas inside and outside the work unit.
  • Able to work with long-term perspective in addressing broker or business area problems/issues.
  • Demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives.
  • Strong analytical and decision-making skills.
  • Ability to influence decisions and gain agreement and/or support on sensitive issues.
  • Strong conflict resolution skills.
  • Strong mentoring/coaching skills.

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
  • Minimum 3 years leadership experience
  • 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 knowledge of other functional areas (i.e. Claims, Risk Management, Premium Accounting, etc.)

What We Have to Offer:

  • Northbridge Cares program – volunteer day and donation matching
  • Generous paid time off, including personal days. Flexible work hours as well as early departure opportunities
  • Flexible Group Benefits Plan – medical, dental, insurances
  • Defined Contribution Pension Plan + Optional Group RRSP
  • Northbridge Employee Share Purchase Plan
  • Education Assistance Program
  • Employee Assistance plan
  • Staff Insurance - discount on home, automobile and pet insurance
  • Plus, the opportunity to contribute to the success of Northbridge through sharing your knowledge and experience while learning from others!

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.

Application Process:

Northbridge welcomes and encourages applications from people with disabilities. Accommodations are available upon request for candidates taking part in all aspects of the selection process. Interested, qualified candidates are encouraged to apply below.

All offers of employment are conditional upon satisfactory background and reference checks, including a criminal record check, credit check, and employment and educational verifications.