Vice President, Small CL Renewal Underwriting

Hanover Insurance Group - Worcester, MA

Full-time - Senior

Remote - Worcester, MA

Insurance Carriers and Related Activities

About the position

Our Small Commercial lines team is currently seeking a Vice President of Renewal Underwriting to join their growing team. This role is open to a hybrid arrangement to a field office or fully remote. This is a full time, exempt role. Reporting to the CUO (Chief Underwriting Officer) of Small Commercial, the Small Commercial Leader will have overall responsibility to direct execution of our Underwriting business strategy. They will play a lead role in helping set the strategy and direction of the Small Commercial book of business and collaborating with the Small Commercial leadership team. They will be well-versed in the business operations of the Centers, including understanding unique workflows and exposures. They will monitor trends, performance, and the competitive landscape to maximize profitable growth, considering appetite, mix, and pricing. They will work closely with Corporate Underwriting leaders to establish priorities, respond to market challenges, and bring consistency between new and renewal operations. In this role, you will analyze industry and market trends to maximize profitability and identify unique exposures that will achieve overall company goals. You will have direct management oversight over SC Underwriting teams. In conjunction with Operations leadership, you will develop, implement, and maintain workflows and tools for underwriters to ensure consistent workflows that address segment needs and company appetite and methodology. You will drive consistent strategic messaging to align underwriters and leadership on appetite, pricing, and new business processes. Additionally, you will work with Operations and other internal partners on the team to implement the product/service solutions, underwriting guidance, service delivery, marketing materials, and training materials. Your responsibilities will also include hiring, developing, and retaining best in class Underwriting Teams (UTs), Underwriters (UWs), and UW leaders, while building an underwriting culture of continuous improvement to achieve underwriting goals. You will monitor the environment to ensure solutions stay current and segments are meeting profit and growth objectives, adjusting as necessary. Furthermore, you will work with vendors/external partners to implement product/service solutions for industry segments as needed, recommend improvements in usage or functionality, lead implementation of changes to vendors' products and processes, and monitor usage and costs. You will act as a contact for Regional Vice Presidents (RVPs), Regional Executives (REs), and Regional Partners (RPs) regarding questions and guidance on segment issues (underwriting, financial performance, products, agency management, etc.). Lastly, you will be an active part of the Small Commercial leadership team working closely with the CUO, Finance VP, New Business Leader, Marketing/Sales Leader, head of Operations, and Consolidation Leader.

Responsibilities

• Analyze industry and market trends to maximize profitability and identify unique exposures that will achieve overall company goals.
• Have direct management oversight over Small Commercial Underwriting teams.
• Develop, implement, and maintain workflows and tools for underwriters to ensure consistent workflows that address segment needs and company appetite and methodology.
• Drive consistent strategic messaging to align underwriters and leadership on appetite, pricing, and new business processes.
• Work with Operations and other internal partners to implement product/service solutions, underwriting guidance, service delivery, marketing materials, and training materials.
• Hire, develop, and retain best in class Underwriting Teams (UTs), Underwriters (UWs), and UW leaders.
• Build an underwriting culture of continuous improvement to achieve underwriting goals.
• Monitor the environment to ensure solutions stay current and segments are meeting profit and growth objectives, adjusting as necessary.
• Work with vendors/external partners to implement product/service solutions for industry segments as needed.
• Act as contact for Regional Vice Presidents (RVPs), Regional Executives (REs), and Regional Partners (RPs) regarding questions and guidance on segment issues.

Requirements

• Bachelors degree required, CPCU and/or MBA preferred.
• 10+ years of experience in property and casualty underwriting concepts, practices, and procedures.
• Ability to apply knowledge of exposure/hazard identification and control.
• Knowledge of pricing practices and applications.
• Strong understanding of regional goals and current industry information, market trends, and emerging loss exposures.
• Proven ability to lead projects and/or teams and effectively influence resources outside of direct control in a matrixed environment.
• Exceptional functional knowledge of product offerings, technologies, distribution channels, and service strategies.
• Demonstrates clear understanding of the economics of the business and balances multiple business objectives to achieve optimal results.
• Creates collaborative partnerships with key stakeholders to establish strategies that will achieve overall company goals.
• Applies analytical techniques to resolve problems or issues.
• Well-developed ability to establish, communicate, and assess current and future business/service requirements.

Nice-to-haves

• Strong product liability background.

Benefits

• Internal mobility program