Manager, Underwriting

Underwriting / Souscription Mississauga, Ontario


Position at Federated Insurance

“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!

Position Summary 

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 Commercial Insurance Specialist’s and/or clients to enhance understanding of the target market and to contribute to quality service, problem solving, and risk selection.
  • Collaborate with Commercial Insurance Specialist’s and clients to assist in business retention and client satisfaction through regular interactions.
  • Investigate clients’ risk factors relative to corporate pricing approach to gain support, agreement and enhance relationships.
  • Participate in the communication and 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 CIS management systems are updated and current.
  • Develop relationships with Commercial Insurance Specialist’s to ensure the delivery of efficient and focused targeted sales activities to Commercial Insurance Specialist’s.
  • Provide quality client service to assigned Commercial Insurance Specialist’s including clarification of coverage, wordings, and claims history.
  • Understand and adhere to service standards in accordance with company guidelines.
  • Participate in problem resolution between Commercial Insurance Specialist’s and underwriting staff.
  • Ensure that product changes or enhancements are communicated to Commercial Insurance Specialist’s and/or clients in a timely manner.
  • Forge new business relationships and solicit new business opportunities.
  • Review CIS evaluations, analyze results and maintain a complete understanding of Commercial Insurance Specialist’s and/or clients.

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 Director 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.

What we are looking for:

  • 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 CIS and client 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 Commercial Insurance Specialist’s, clients and business areas inside and outside the work unit.
  • Able to work with long-term perspective in addressing CIS 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.

What sets you apart:

  • 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.)

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.

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