Company: Sovereign General

Department: MGA Portfolio

Employment Type: Regular Full-Time

Work Model: Hybrid

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 company, Sovereign 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.

The Underwriting Specialist, Delegated Authority will utilize their strong portfolio management skills and underwriting experience to provide technical expertise, guidance and oversight for Sovereign’s delegated underwriting portfolio. This national role will play a material role in driving Sovereign’s growth objectives with a focus on accelerating profitability through our delegated authority distribution partnerships.

The role will oversee the delegated authority contracts through audits and analysis to ensure rate adequacy and alignment to our risk appetite. Further, they will take the lead or participate in the analysis of an assigned portfolio to drive and maintain profitability.

In addition, this role will support the growth of our portfolios by participating in the identification, decision-making and onboarding of new portfolio opportunities. Working closely with corporate/national and senior management to ensure our portfolios support our business objectives.

The Delegated Authority Underwriting Specialist will also play a significant role in executing our partner strategy by maintaining, developing and expanding relationships with distribution partnerships.

How you will create impact:

• Supporting the development, implementation, evolution and general management of new and existing delegated authority portfolios.
• Where applicable, assess risk factors and market conditions to determine appropriate premium rates for the specific delegated authority portfolio. Utilize actuarial tools, historical data, and market insights to establish competitive pricing while ensuring profitability and risk management.
• Respond to referrals on complex accounts, keeping them at an acceptable level to align with general intent of the portfolio’s delegated nature.
• The role will actively manage portfolio growth and profitability while ensuring general adherence to the delegated facility intent.
• Leading or participating in the external underwriting audit process including follow up support to ensure action plans to address issues identified in the audit occur in a timely manner.
• Evaluate coverage terms, limits, exclusions, and endorsements to ensure compliance with established underwriting guidelines.
• Maintain and further develop relationships with delegated authority partners, marketing Sovereign’s unique value proposition and capitalizing on opportunities for viable insurance solution expansion. This includes attending client meetings, conducting presentations or workshops, and engaging/connecting internal stakeholders, etc.
• Act as a point of contact for issues or concerns between distribution partners and Sovereign, managing escalation and resolution processes for identified partners.

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 cooperative and collaborative dialogue because diverse perspectives offer more creative and productive solutions.
• Provide advice and guidance regarding underwriting authority (including approvals) to less experienced underwriting staff.

To join our team:

• A minimum of 10 years of experience in the insurance industry within senior underwriting roles
• Minimum 2-3 years of corporate/national underwiring experience, managing referrals, overseeing portfolio performance and executing audit exercises
• Previous experience in in other lines of business like commercial property, casualty and cyber would be considered an asset
• Bilingualism (French/English) would be considered an asset.
• CIP and/or CRM designation preferred.
• Proven relationship building experience, specifically working with delegated authority partners
• Strong communication skills to effectively manage internal relationships and external partnerships to navigate through complex business cases.

What you need to know:

• You are required to have a valid driver’s license and insurance.
• You will travel regularly.
• You will be subject to a background check as a condition of employment, in the event you are the successful candidate.

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.
• An organizational commitment to sustainability and charitable giving; positively impacting the social, environmental and economic well-being of Canadian businesses, families and communities.