Regional Vice President, Commercial Lines

Encova Insurance

22d•Hybrid

About The Position

We are seeking a proven insurance leader residing in the Atlanta, GA or Charlotte, NC metro areas with established agency relationships and strong regional market expertise to support our strategic growth initiatives. Jurisdictional knowledge and leadership experience in underwriting across GA, AL, NC, and SC are strongly preferred. The position will report to a Senior Vice President, Commercial Lines - Large Accounts Are you a Referral? If you know a current Encova Insurance associate and would like to apply as a referral, please encourage them to submit your referral information before you submit your application. You will receive an email with a direct URL link to the Job Posting of interest. Applying through this URL link will create your referral relationship for our Talent Acquisition Team. Unique residence requirements are listed in each job posting, please review closely for details. Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes: Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin. JOB OBJECTIVE: 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 Bachelor's degree from an accredited four-year college or university strongly preferred.
A minimum of five years of experience with a property/casualty insurance carrier handling commercial lines products including worker’s compensation is required.
A minimum of five years of management experience preferred.
Knowledge and ability to develop best practices in assigned areas of 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

Jurisdictional knowledge and leadership experience in underwriting across GA, AL, NC, and SC are strongly preferred.
Master’s degree in management or relevant business area preferred.
Professional insurance designations relevant to area of expertise desired.
Periodic travel in designated region required.

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.