Farmers Insurance Head of Underwriting - Specialty Lines in Caledonia, Michigan
Head of Underwriting - Specialty
Responsible for growth, profitability, underwriting results and trends in all Specialty property, and recreational casualty products in all states including owner-occupied and non-owner occupied property products, motor home, travel trailer, collectible auto, motorcycle, ORV and marine . Directs assessment of Product, Actuarial, Claims, Operations, and Underwriting experience to design and execute underwriting and risk management strategies to achieve profitable growth in each product line and attainment of Specialty Lines financial goals. Accountable for developing, implementing, and evaluating programs to ensure underwriting quality, accuracy, and efficient processes.
Designs Specialty underwriting strategy to reimagine underwriting of the future and implements strategic changes. This includes using new technologies, data, analytics and third party vendors to drive efficiency and effectiveness.
Manages a team of managers and staff to achieve objectives.
This position must deal with the complexity of multiple products sold through multiple channels of distribution and multiple companies.
Essential Job Functions
- Has underwriting responsibility for all Specialty property and recreational casualty products distributed through all channels of distribution country-wide.
- Accountable for strategic and operational planning, budget, operating and financial results analysis and other department coordination.
- Responsible for implementing all changes necessary for legislative and regulatory compliance.
- Strategic planning, underwriting and compliance for all Specialty property and recreational casualty products. Leads larger scale strategic projects. Responsible for both line and staff underwriting.
- Responsible for strategic underwriting direction and development. Takes the business vision and direction and through analysis of the underwriting processes and metrics develops a vision and direction for underwriting.
- Determines appropriate business levers to accomplish business goals and manages and directs that change throughout the organization.
- Responsible for underwriting results and trends in all Specialty products. Analyzes key performance indicators and takes appropriate action to ensure attainment of assigned business goals and budget.
- Establishes scorecard reports and metrics to project and monitor underwriting results including the impact of any new or revised policy,
- procedure, program, or process. Reports monthly scorecard results and progress to Sr. Leadership.
- Designs, recommends, and implements underwriting rules & guidelines, risk selection & validation, strategies, and processes for all Specialty product lines. Provides recommendations to Product Management on underwriting issues.
- Develops and implements underwriting solutions including communication and coordination plans with Product Management, IA and EA Distribution, Service Operations, and Field Operations.
- Manages underwriting compliance issue resolution including new laws and responses to market conduct exams and regulatory issues. Works with affiliate companies to align strategies, philosophies, and processes. Works collaboratively with other divisions (Market Management, Underwriting, Claims, Legal, Compliance and State Filings) to understand the insurance marketplace, identify emerging trends and issues, and maintain compliance at all times.
Talent management for a team of insurance professionals as well as all budgeting, reporting and analysis for assigned states/products.
Advanced degree in Business Administration or related field.
10 years insurance experience.
Experience managing/ developing managers.
Special Skill Requirement
Requires thorough knowledge of major competitors, industry trends, issues and the regulatory process.
Role requires a thorough comprehension of the P&C insurance business, including all aspects of marketing Farmers Specialty products in all channels of distribution.
An Equal Opportunity Employer
Organization: *Farmers Insurance
Title: Head of Underwriting - Specialty Lines
Requisition ID: 19000092