Regional Vice President, Commercial Lines

Encova Insurance•Winnipeg, IL

2d•Hybrid

About The Position

We are seeking a proven insurance leader preferably residing within the listed states within our Midwest territory who have established agency relationships and strong regional market expertise to support our strategic growth initiative. Jurisdictional knowledge and leadership experience in underwriting across the Midwest are strongly preferred. The position will report to a Senior Vice President, Commercial Lines - Small Business. The Regional Vice President, Commercial Lines is responsible for the growth and profitability of their region and market segment. With full P&L accountability, the RVP is expected to improve business results; oversee and direct work that improves quality and efficiency; develop technical competencies in their team and provide products and services to compete effectively in the marketplace. The RVP is also accountable for building agency relationships, overseeing sales activities for their market/region, analyzing business performance and trends and recommend adjustments and responses; review changes and compliance requirements and ensure conformance; and develop external customer knowledge about commercial lines.

Requirements

A minimum of five years of experience with a property/casualty insurance carrier handling commercial lines products including worker’s compensation is required.
Jurisdictional knowledge and leadership experience in underwriting across the Midwest are strongly preferred.
Established agency relationships and strong regional market expertise.
Ability to use relevant information and individual judgement to determine whether processes or decisions comply with regulations or standards.
Ability to work effectively in a team environment.
Ability to arrange things or actions in a certain order or pattern according to specific rule or set of rules.
Ability to use logic and reasoning to identify problems.
Review related information and to analyze strengths and weaknesses of alternative solutions, conclusions or approaches, and to implement solutions and/or make improvements.
Knowledge of policy and procedures regarding underwriting administration, risk administration and classification, insurance and risk management, accounting or business administration, premium audit or underwriting and loss control.
Superior understanding of the form and content of insurance policies.
Exceptional communication skills for use in internal team interaction and in collaboration with other business units for information gathering, reporting results, training, etc.
Excellent analytical, research, documentation and writing skills.
Knowledge of cost rating plans and related pricing methods and procedures and corresponding ability to determine and/or calculate business exposures, classifications, experience, or other rating place modifications and to credit risks for purposed of determining the appropriate guaranteed cost coverage for each business.
Ability to read and interpret financial statements.
Ability to analyze and evaluate specific complaints and inquiries regarding insurance contracts, coverages and rating plans.
Effective organizational skills including the ability to manage multiple projects and work with minimal direction.
Knowledge of design, implementation and interfaces of current systems and applications.
Ability to apply confidentiality when appropriate.
Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Ability to establish and maintain effective working relationships with others.
Thorough understanding of competitors and alternative markets within each environment.
Ability to articulate financial results and impact of strategy of senior management.

Nice To Haves

Preferably residing within the listed states within our Midwest territory.
A Bachelor's degree from an accredited four-year college or university strongly preferred.
Master’s degree in management or relevant business area preferred.
A minimum of five years of management experience preferred.
Professional insurance designations relevant to area of expertise desired.

Responsibilities

Ensure the growth and profitability of a specific market segment and region as measured by their P&L.
Oversee and direct the performance of a multi-disciplinary team of professionals and support staff.
Develop and implement strategic direction, best practices and business plan objectives.
Effectively manage their agency distribution channel and ensure effective sales strategies are executed by their team to drive the growth of the business.
Provide expertise to their team and other staff in policy, strategies and tactics, technical disciplines and approaches, develop of products and services, processes and workflows including automation and business rules, regulatory compliance and market conduct matters.
Ensure superior decisions and work product by performing regular quality control and directing quality audits.
Manager development projects including business requirements and timelines that impact coverages, pricing, rating, systems logic, automation and best practices.
Direct the development of pricing strategies from the individual risk to portfolio levels using models and methodologies to support a profitable and competitive pricing approach to the market.
Oversee and direct the development and implementation of strategic and tactical product and service development initiatives based on trend monitoring, feedback from stakeholders and review of marketplace competitors.
Analyze competitor products, services and pricing intelligence and internal product and service trends/results and make recommendations for new and revised products, processes and systems.
Present to and train internal and external stakeholders on product and service introductions and enhancements and the associate processes based on a solid understanding of and impact to field constituents such as agents, underwriting, customer service, marketing and policy holders.
Develop appropriate supporting materials.
Create innovative solutions as a result of competitor and internal trend analysis and works with other disciplines to gather input regarding product and service changes and ideas.
Effectively utilize all available data to make appropriate product and service development decisions and recommendations.
Responsible for the development of guidelines, policies and procedures that address identified business needs and support the achievement of business results.
Determine system impacts as a result of process instructions or changes.
Bring a solid understanding of compliance issues and regulatory environment in all project development and implementation.
Investigate compliance/regulatory issues and concerns and recommend appropriate business solutions and/or strategies based on those issues.
Responsible for the development, use and maintenance of Loss Frequency and Severity Benchmarks.
Create and maintain other necessary underwriting instructions and policy.
Work with the field sales team to develop state profit and growth strategies including product positioning and marking approach.
Lead a technical pricing team to direct the analysis process and make rate and trend selections to meeting profitability goals.
Coordinate the rate revision schedule with the systems integration team and field organization.
Make fact-based strategic decisions based upon knowledge of the market, which includes competitors, regulatory and legal environment, claims handling trend, and distribution channel/agent relationships.
Communicate and coordinate key profit metrics with Claims Operations, Underwriting Operations, and Agency Operations.
Other duties as assigned.