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The Opportunity
Recognized as the product expert, the Product Specialist provides product expertise and a depth of knowledge on coverages and on the national, regulatory, legislative and industry environment. They provide research and leadership in developing and maintaining products and coverages to positively affect portfolio profitability and meet the needs and preferences of clients. They will maintain and create underwriting and risk selection rules across all portfolios. They are responsible for product design and overseeing the development of wordings. They provide product expertise to all programs and initiatives and Manufacturing projects and implementations.
Roles and responsibilities
- Research, evaluate and author underwriting rules and risk selection guidelines. Author supporting reference material as appropriate.
- Proactively monitor external activities to identify potential legal/regulatory impacts and emerging issues which could impact products and profitability including regulatory and legislative changes, industry trends, marketplace and claims issues, product, government bulletins.
- Design products and oversee the development and maintenance of base policy wordings and forms across companies. SL ONLY: Signoff wordings created by the Portfolio Underwriter for compliance with company standards.
- Liaise with Reinsurance Dept to ensure reinsurance arrangements support the profitability of portfolios. Author underwriting guidelines for use of treaty and facultative reinsurance.
- Provide leadership and subject matter expertise to project teams implementing change that affect product accountabilities.
- Perform underwriting audits and issue reports.
- Develop and monitor the audit program for consistency across product portfolios.
- Provide background information and content to Communications & Training team including policy wordings, forms, reference and training materials. Product specialists will ensure legality and that the needs of the different areas are met and are consistent. Product specialists will coordinate changes to forms and questionnaires.
- Consult with the National Claims Dept. to provide expert underwriting opinion for policy interpretation of products.
- Consult with Underwriters and Region Portfolio Managers to provide guidance and expertise regarding the acceptability of risks.
- Contribute to the profitability of portfolios by analyzing, identifying and quantifying potential solutions to problems/issues identified in portfolio reviews.
- Contribute to the development of product-related business cases.
- Build and maintain strong working relationships with management, internal departments including Claims, Legal, Personal Lines, other subsidiaries, regulatory bodies, industry committees and other organizations.
- Contribute to managing relationships, contracts and responsibilities with external underwriting products/service suppliers, including MS&B, CGI, BI&I & RMS.
- Accountable to review and make recommendations resulting from work done by the actuarial research team.
- Providing client service support on underwriting, product and coverage questions (e.g. regulator inquiries).
- Outside CGIC, must perform additional project tasks and develop/deliver training.
- Contribute to insurance systems development and maintenance.
- Contribute to the design of rating algorithms.
Your Qualifications
- Minimum 5 years successful PL/SL underwriting experience is preferred.
- Chartered Insurance Professional (CIP) designation required. FCIP with a major in Underwriting or Risk Management preferred.
- University degree (Business, Economics, Mathematics preferred) or equivalent experience.
- Expert knowledge of PL/SL products, policy wordings, reference and training materials, Insurance Acts and provincial legislation/requirements.
- Able to break down complex variables and derive solutions to address issues in an environment impacted by external forces.
- Proven ability to work both independently and as part of a team.
- Thorough knowledge of how work is done in a project environment.
- Knowledge of business application systems (e.g. GCFC, PMSC, AS400, SIGMA, GNA, FIPT, Policycenter, CLink, GNC, REIN),and business productivity tools (i.e.: MSOffice, MSProject, internet.)
- Bilingualism is preferred
The Reward
- A full time position with one of the 50 Best Employers in Canada.
- Opportunity for career development including education opportunities, continuous training and career planning.
- Flexible schedules to manage work/life commitments including personal days off.
- Commitment to staff wellness including a comprehensive employee assistance program.
- A generous compensation package including a competitive salary, a pension and benefits program ranked in the Top 30 in Canada, share purchase and employee incentive programs and paid vacation.
- Opportunity to give back to your community through a directed donations program and paid volunteer days.
If you are interested in a career with The Co-operators, please complete the form below and submit it by 27 novembre 2012.
Want to learn more or have questions about this opportunity, please contact dominic.roy@cooperators.ca.
About The Co-operators
The Co-operators Group Limited is a Canadian-owned co-operative. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is ranked #3 among the 50 Best Corporate Citizens in Canada by Corporate Knights, and listed among the 50 Best Employers in Canada. As a proud member and supporter of the co-operative sector, The Co-operators is pleased to celebrate 2012: The International Year of Co-operatives. For more information visit http://www.cooperators.ca.
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