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Assistant Vice President
The Hanover Insurance Group
Minneapolis, MN, United States
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Our Middle Market department is seeking an Assistant VP for Commercial Lines Underwriting to join our growing team in our Minneapolis, MN office.
The Commercial Lines Middle Market Underwriting leader is responsible to drive team performance to achieve profit and growth through talent management and development, branch portfolio management, achievement of new business targets, and consistent use and optimization of best practices and tools.
This is a Full-time, Exempt role.
Leadership & Coaching:
• Leads, directs and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with strategic direction.
• Creates a high performance culture through effective communication and quality goal setting, differentiation of compensation and performance, proactive management of low performers and retention of top performers.
Maintains an active talent pipeline within and outside the company.
• Manage a performance enhancement culture by actively coaching and mentoring direct reports, providing regular feedback and developing employees for wider roles and responsibilities to foster professional growth and development.
• Delegates and effectively leads through others to achieve results.
• Cultivate high performing team by managing resources and recommending and implementing needed changes to fill in gaps and ensure streamlined strategy execution.
• Influence team by modeling strong relationship building with key stakeholders to encourage team to utilize timely and effective communication and deliver personalized and quality service.
• Drives underwriting quality and adherence to corporate standards and best practices to achieve quality standards (e.g. quality review process, NB quality scorecard).
• Effectively manage expenses in line with near and long range business priorities.
• Effectively present information to influence organizational leaders and key stakeholders.
Technical Underwriting
• Drives adherence to underwriting authority delegation, audit criteria and catastrophe management for their assigned branches.
• Collaborates with business partners in Risk Control, Actuarial, Claim, Operations and Compliance to address governance and compliance issues related to underwriting practices.
• May take lead responsibility for driving the development of underwriting strategies and position papers for emerging issues affecting the local territory. May provide guidance and direction in the development of underwriting and training tools.
• Assesses underwriting skills of underwriters, delegates underwriting authority based on demonstrated skills and creates a plan to increase underwriting technical capabilities.
• Handles complex referrals and consultations from UTs and UWs within territory.
• Utilizes strong influencing skills to position territory agenda on high level risks in collaboration with the CUO and Business Unit Leaders to execute strategy and to write profitable business.
• Manages CAT aggregation and drives adherence to CAT guidelines and underwriting discipline to minimize exposure and appropriately price.
Portfolio Management
• Achieves gross written premium, retention, and new business plans.
• Provides guidance and direction in the development of underwriting and training tools.
• Drives profit improvement process.
• Drives appropriate rate while balancing with retention. Ensure teams utilization of tools and resource to achieve profit.
• Evaluates underwriting performance based on financial analysis. Includes rate, operational, planning and product reviews. Provides results
Sales Acumen & Customer Advocacy:
• Drives development and execution of specific regional business plan strategies and programs working with RE, RVP, CUO, Operation’s, Risk Solutions and Claims.
• In partnership with underwriting team, builds mutually beneficial business relationships that improve yield and retention ratios.
• Manage effective pipelining process through individual and team coaching, including utilization of Agency Insights information.
• Fosters collaboration with Industry Solutions partners to augment sales process through enhanced knowledge transfer, strategic producer visits/sales calls, and effective training sessions for both agents and customers.
• In partnership with local field leadership, drive our value proposition to enhance agency economics, partner conversion and product specialization.
• Engage in annual producer business planning to derive future year expectations and commitments.
• Through stewardship process, drives engagement at the customer level for the most complex and prominent accounts within their territory.
Requirements:
• Bachelor’s Degree or equivalent experience advanced degree preferred
• 10+ years of commercial lines underwriting, with a minimum of 10+ years of experience with MM accounts and driving agency relationships resulting in profitable new and renewal business.
• Minimum of 8 years demonstrated success directly managing others. Proven ability to manage, coach, delegate and leverage team resources to achieve business results both local and remote. Ability to effectively coach and develop talent at various levels.
• May serve as a mentor to other managers / leaders as needed.
EEO statement:
“The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. If you require a reasonable accommodation, as a candidate for employment, please inform The Hanover Talent Acquisition office.
The Hanover Insurance Group does not accept unsolicited Agency resumes. The Hanover Insurance Group will not pay fees to any t...