Manager, Underwriting Analytics

  • 4-8 Year
  • Burnaby
  •   Posted On: January 11, 2018
  •   Skills: 
  • Industry: Insurance
  • Qualifications Required: Undergraduate degree
  • Job Type: Full Time

Job Overview

Roles & Responsibilities

Modelling and analytics

Lead the development of models to support underwriting and pricing strategies
Leverage analytics and technology to enhance and promote efficiency within the underwriting team, and make recommendations for changes to rules, processes and workflows.
Lead the development of portfolio analytics to ensure alignment between the risk profile of the insurance book and corporate strategy, while managing exposure to risk, including catastrophic risk. Leverage this analysis to achieve positive impacts across underwriting, marketing and sales.
Review the work performed by analysts to ensure accuracy, and that the results are well structured for concise communication to non-technical audiences.

Leadership

Lead engagement and development of direct reports, ensuring successful team performance and strong collaboration with business partners.
Lead the workflow of the analytics team ensuring the long term goals of the underwriting department are well defined, understood and fulfilled.
Ensure the team has sufficient skills and experience to meet department objectives.
Ensure knowledge transfer and retention in team.
Manage succession and career development plans.
Provide performance management as required.
Ensure best BCAA HR practices, documentation and procedures are followed.

Research

Identify both current and future areas of underwriting risk on a portfolio level, leveraging research and analytics to assess and inform recommendations to mitigate these risks.
Research and form recommendations around new and attractive applications for the use of predictive modelling within the underwriting team, and across BCAA.
Research and quantify the risk associated with specified underwriting rules and present recommendations for refinement.
Research ways to mitigate the risk of insurance losses for BCAA’s members.
Maintain an up to date working knowledge of catastrophe modelling, and make recommendations to ensure the models and assumptions used to set BCAA’s reinsurance coverage remain appropriate. •

Pricing and Ratemaking

Ensure collaboration across the underwriting department on rate indications, including premium trending, loss trending and assumption setting to maintain required financial performance of the business.
Ensure collaboration across the underwriting department on ratemaking to ensure an optimum rating structure is maintained, making recommendations on the use of new sources of information, rating variables and techniques.
Communicate recommendations on rate indications and rating structure to management and senior leadership, assisting with the ongoing development of pricing strategy.
Oversee ongoing monitoring of rating structures and risk selection rules to ensure performance and underwriting results are as expected. Make recommendations for adjustment based on results of monitoring.

Reinsurance

Support the placement of BCAA’s reinsurance program through analytics and modelling, including assessment of catastrophe risk, management of concentration risk, and optimization of treaty limits.
Work closely with internal and external analysts and modelers to understand exposure to catastrophic risk, including understanding regulatory requirements, model selection, data requirements and model output. Communicate relevant information to non-technical audiences and stakeholders throughout the organization.
Support entity level Mote Carlo simulation of the insurance business, including reinsurance treaties, to ensure regulatory and board requirements are met.
 
Other

Support the Marketing group’s product development process as it relates to rates, retention and dislocation of the book.
Minimum Qualifications 
Education & Accreditations:
Undergraduate degree preferably in Mathematics, Economics, Natural Sciences, Engineering, Business or Actuarial Science.

Qualifications:

Minimum four years of related experience in an analytical role in insurance, consulting or finance environment.
Demonstrated analytical capabilities, including critical thinking and ability to provide forward thinking recommendations.
Excellent written communication skills along with the ability to present results of analysis to a non-technical audience.
Highly organized with demonstrated experience in solving problems.
Understanding of actuarial concepts and insurance pricing.
Proven experience managing projects and demonstrated ability to drive change.
Demonstrated ability to drive improvements to business through use of analytics.
Proven ability to learn new concepts quickly and efficiently.
Excellent interpersonal skills required to be effective both within the team and throughout the organization.

Preferred Qualifications:

Achieved, or studying towards, ACIA (Associate of the Canadian Institute of Actuaries), CFA (Chartered Financial Analyst), MBA, or other numeric postgraduate qualification.
Multi-disciplined education and/or postgraduate degree in mathematics, economics, physical sciences, actuarial sciences or other numeric discipline.
Understanding of databases, SQL and/or SAS would be an asset.
Knowledge of predictive analytics and its application in insurance.
Experience in development and implementation of predictive analytics solutions.
Experience leading project teams, and/or developing junior analysts.
Experience with multiple corporate structures and systems.
Experience with catastrophe modeling software.

About BCAA

About The British Columbia Automobile Association (BCAA) is a mission-driven services organization committed to delivering peace of mind to our Members and customers across B.C. and the Yukon. With over 800,000 Members, BCAA serves 1 in 3 B.C. households. The Association received the 2012, 2013, and 2014 J.D. Power and Associates awards for “Highest Customer Satisfaction among Home Insurance Providers in Western Canada,” and is famous for providing roadside assistance and an array of home, auto and travel insurance products and services. BCAA Members can also benefit from CAA Dollar rewards, savings on BCAA insurance products and exclusive offers at Show Your Card & Save locations throughout the province and internationally.

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