Company: Sovereign Insurance
Department: SOV - MGA Portfolio
Employment Type: Regular Full-Time
Work Model: Hybrid (2 days/week in office)
Language: English is required, French is an asset.
Additional Information: This/these role(s) is/are currently vacant.
The Opportunity:
As a wholly owned subsidiary of the Cooperators General Insurance, believes your experience matters. This is our promise to not only our clients but to our employees as well, because we know the strength of our company starts with our people. The smart, curious and collaborative people who bring their whole heart and passion to work each day. But you can’t pour from an empty cup; we take care of the well-being of our people so that they are inspired to protect Canadian businesses and the lives, families and communities we impact. Join us and begin shaping your experience at Sovereign.
This role will support the growth of our Professional Lines, Technology and Cyber programs by participation in the identification, decision-making and onboarding of new programs. You will work closely with Underwriting Specialists and Senior Management to ensure our programs support our business objectives. The role will have a national mandate to support our distribution partners nationally. The ability to navigate internal stakeholders and external partners to get things done with a high level of collaboration, critical thinking, data analytics and communications skills is required to ensure successs.
How you will create impact :
- Perform Underwriting due diligence on new Program opportunities against our appetite & framework, reviewing Underwriting methodology, guidelines, processes, pricing structure, coverage terms and wordings. Collaborate with the senior management team to establish and review underwriting strategies that align with business objectives and risk appetite.
- Assess risk factors and market conditions to determine appropriate premium rates for the specific program. Utilize actuarial tools, historical data, and market insights to establish competitive pricing while ensuring profitability and risk management.
- Monitor and evaluate the performance of distribution partner portfolios, including policy retention, loss ratios, and profitability.
- Provide Underwriting support for existing Programs, including underwriting audits (virtual and in person), risk referrals, wording, and pricing reviews to maintain profitable relationships.
- Provide advice and guidance regarding underwriting authority (including approvals) or technical advice to delegated authority partner and participate in audit process.
- Conduct market research and analysis to identify emerging trends, competitive landscape, and new business opportunities within the Program space. Provide insights and recommendations to management for product development and enhancement.
- Support research and develop guidelines as well as ratings for new underwriting classes of business with more senior underwriters and specialists.
- Build and maintain strong relationships with distribution partners, and other stakeholders involved in the Program space. Collaborate effectively with internal teams, including claims, legal, actuary, and compliance, to ensure smooth underwriting processes and timely resolution of issues.
- Using data and analytics to foster a deeper understanding of our partners to better improve risk selection, manage our portfolio and ultimately provide better solutions for our clients.
How you will succeed :
- You thrive on delivering our exceptional client experience through positive and engaging relationships; embracing accountability to achieve effective results.
- You ensure your day-to-day actions are in harmony with the company’s purpose, vision, and values even when challenged.
- You will support and guide others through changing conditions and encourage the exploration of new opportunities or innovations.
- You value and encourage others to have cooperative and collaborative dialogue because diverse perspectives offer more creative and productive solutions.
To join our team :
- Chartered Insurance Professional (CIP) Designation is an asset.
- 3-5 years underwriting experience in professional lines or technology and cyber preferred.
- Understanding of commercial and specialty insurance marketplace; products, distribution channels, practices and processes is required.
- Superior oral and written communication skills and the ability to deliver presentations and communicate ideas clearly.
What you need to know :
- You will be subject to a Background check as a condition of employment, in the event you are the successful candidate.
- Detail oriented work that requires a high degree of mental concentration for extended periods of time.
What’s in it for you?
- The opportunity to take on challenging work and contribute your expertise, creativity, and passion in meaningful ways.
- A comprehensive total rewards package, including competitive salary, bonus, paid time off, pension and benefits.
- A holistic approach to your well-being, with physical and mental health programs and flexible work options.
- The opportunity to work on an inclusive team who inspire each other to explore and achieve what’s possible.
