AVP - Product Development

Primary Responsibilities

Strategy and Planning
Execute operational objectives and the business plan for the underwriting function
Review existing portfolios / accounts and recommend strategies for profitable growth
Develop product plans, operating budgets and initiatives to ensure profitable growth and increased market share
Support and develop product strategy and individual product strategies
Policy, Process and Procedures
Underwrite complex risks in accordance with defined limits of authority, organizational policy and underwriting standards
Monitor and review underwriting standards, procedures and variations from proposal standards
Contribute to continuous quality improvement processes
Maintain in-depth knowledge of current legislation, best practice, underwriting acceptance levels, systems, and organizational guidelines
Environmental Awareness/Customer Focus
Manage key portfolios/accounts with intermediaries
Deliver timely decisions and problem solving solutions for customers and intermediaries
Develop and maintain good working relationships with all customers, brokers, colleagues, intermediaries and internal stakeholders
Maintain strong knowledge of new products and commission structures, in order to enhance relationships with intermediaries
Technical Performance
Achieve underwriting results and growth (through new business and renewals) in accordance with plan/budget
Identify new business opportunities and self-insurance prospects, as well as underwriting requirements to meet business needs
Establish appropriate measurement techniques and reporting systems
Develop new / tailored products to meet customer needs or respond economic, political, legislative or compliance changes
Monitor portfolio results and individual product performance, identifying trends and opportunities and taking correction action as necessary
People Management
Supervise the underwriting activities of other underwriters, ensuring all procedures are adhered to
Provide technical expertise and guidance to employees
Coach/mentor Underwriters and Assistant Underwriters, on either a formal or informal basis

Preferred Competencies/Skills

Presentation Skills
Negotiation and problem-solving skills
Relationship management and communication skills
People Management

Preferred Education Specifics

College degree, of any business course

Preferred Experience

15+ years relevant working experience with over 5 years of underwriting experience in supervisorial role
Experience in underwriting / portfolio management role
Use of risk and pricing tools and loss models

Preferred Knowledge

Advance knowledge in insurance
Extensive knowledge in relevant market conditions for specific portfolio
Working knowledge of risk management, portfolio management and underwriting