Insurance Analyst

Insurance Corporation of British Columbia•North Vancouver, BC

6d•Hybrid

About The Position

ICBC’s Insurance Policy Analysis department is looking for a detail-oriented critical thinker to join our team as an Insurance Analyst. This role supports the development of insurance policy by recommending product and policy improvements, contributing to the development of new products, and providing expert technical advice on underwriting, insurance products and coverages, and the licensing and registration of vehicles. The Insurance Policy Analysis department is responsible for developing, evaluating, interpreting, and recommending changes to policies related to ICBC’s insurance coverage, vehicle rating, and associated regulations. This challenging position involves interpreting corporate policies, procedures, legislation, and regulations in order to understand policy intent, assess policy issues, and support sound policy decisions. It also involves conducting research, analyzing options, assessing impacts and trade-offs, formulating recommendations, and drafting proposals to support decision-making.

Requirements

An expert knowledge of insurance products, along with an understanding of how insurance policy is developed, evaluated, approved, and implemented within legislative and regulatory frameworks.
The ability to distill and communicate very complex information clearly, both verbally and in writing.
The ability to lead analysis of insurance issues, including assessing impacts, identifying options, and making sound policy recommendations.
A solid foundation of insurance industry knowledge including the theories, principles, concepts, standards and practices of the property and casualty insurance industry.
Several years of progressively more responsible experience in the insurance industry, with an emphasis on analysis, risk assessment, and leadership.
Only candidates legally entitled to work in Canada will be considered for this position.

Nice To Haves

A very good understanding of the Enhanced Care model, or no-fault equivalent, would be considered an asset.

Responsibilities

Identifies the need for changes to insurance policies and procedures, relevant regulations and legislation, insurance products and coverages, based on emerging issues, policy gaps, operational impacts, and customer outcomes.
Researches policy issues, assesses implications, analyzes options, and formulates recommendations, drafts proposals, and presents recommendations to management, internal committees, Cabinet Ministers, and Government for approval.
Interprets and applies corporate policies, procedures, legislation, and regulations to provide guidance and support consistent policy application.