Encova Insurance
Regional Vice President - Commercial Lines Small Business - Atlantic & Northeast
Encova Insurance, Columbia, South Carolina, United States,
Regional Vice President - Commercial Lines Small Business - Atlantic & Northeast
While we prefer a candidate who can work a hybrid or remote schedule near our Charlotte, North Carolina office (near Ballantyne), we will also consider candidates who reside near Atlanta, GA, Knoxville or Nashville, TN, South Carolina or other states within our Atlantic or Northeast region.The position will report to the Senior Vice President, Commercial Lines - Small Business.Unique residence requirements are listed in each job posting; please review closely for details.Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll.JOB OBJECTIVE:The Regional Vice President, Commercial Lines is responsible for the growth and profitability of their region and market segment. With full P&L accountability, the RVP is expected to improve business results; oversee and direct work that improves quality and efficiency; develop technical competencies in their team and provide products and services to compete effectively in the marketplace. The RVP is also accountable for building agency relationships, overseeing sales activities for their market/region, analyzing business performance and trends and recommend adjustments and responses; review changes and compliance requirements and ensure conformance; and develop external customer knowledge about commercial lines.ESSENTIAL FUNCTIONSEnsure the growth and profitability of a specific market segment and region as measured by their P&L.Oversee and direct the performance of a multi-disciplinary team of professionals and support staff.Develop and implement strategic direction, best practices and business plan objectives.Effectively manage their agency distribution channel and ensure effective sales strategies are executed by their team to drive the growth of the business.Provide expertise to their team and other staff in policy, strategies and tactics, technical disciplines and approaches, development of products and services, processes and workflows including automation and business rules, regulatory compliance and market conduct matters.Ensure superior decisions and work product by performing regular quality control and directing quality audits.Manage development projects including business requirements and timelines that impact coverages, pricing, rating, systems logic, automation and best practices.Direct the development of pricing strategies from the individual risk to portfolio levels using models and methodologies to support a profitable and competitive pricing approach to the market.Oversee and direct the development and implementation of strategic and tactical product and service development initiatives based on trend monitoring, feedback from stakeholders and review of marketplace competitors.Analyze competitor products, services and pricing intelligence and internal product and service trends/results and make recommendations for new and revised products, processes and systems.Present to and train internal and external stakeholders on product and service introductions and enhancements and the associate processes based on a solid understanding of and impact to field constituents such as agents, underwriting, customer service, marketing and policy holders. Develop appropriate supporting materials.Create innovative solutions as a result of competitor and internal trend analysis and work with other disciplines to gather input regarding product and service changes and ideas.Effectively utilize all available data to make appropriate product and service development decisions and recommendations.Responsible for the development of guidelines, policies and procedures that address identified business needs and support the achievement of business results. Determine system impacts as a result of process instructions or changes.Bring a solid understanding of compliance issues and regulatory environment in all project development and implementation.Investigate compliance/regulatory issues and concerns and recommend appropriate business solutions and/or strategies based on those issues.Responsible for the development, use and maintenance of Loss Frequency and Severity Benchmarks.Create and maintain other necessary underwriting instructions and policy.Work with the field sales team to develop state profit and growth strategies including product positioning and marketing approach.Lead a technical pricing team to direct the analysis process and make rate and trend selections to meet profitability goals. Coordinate the rate revision schedule with the systems integration team and field organization.Make fact-based strategic decisions based upon knowledge of the market, which includes competitors, regulatory and legal environment, claims handling trend, and distribution channel/agent relationships.Communicate and coordinate key profit metrics with Claims Operations, Underwriting Operations, and Agency Operations.OTHER FUNCTIONS:Other duties as assigned.KNOWLEDGE, SKILLS AND ABILITIES:A Bachelor's degree from an accredited four-year college or university strongly preferred.Master's degree in management or relevant business area preferred.A minimum of five years of experience with a property/casualty insurance carrier handling commercial lines products including worker's compensation is required.A minimum of five years of management experience preferred.Professional insurance designations relevant to area of expertise desired.Periodic travel in designated region required.Knowledge and ability to develop best practices in assigned areas of expertise.Ability to use relevant information and individual judgement to determine whether processes or decisions comply with regulations or standards.Ability to work effectively in a team environment.Ability to arrange things or actions in a certain order or pattern according to specific rule or set of rules.Ability to use logic and reasoning to identify problems. Review related information and to analyze strengths and weaknesses of alternative solutions, conclusions or approaches, and to implement solutions and/or make improvements.Knowledge of policy and procedures regarding underwriting administration, risk administration and classification, insurance and risk management, accounting or business administration, premium audit or underwriting and loss control.Superior understanding of the form and content of insurance policies.Exceptional communication skills for use in internal team interaction and in collaboration with other business units for information gathering, reporting results, training, etc.Excellent analytical, research, documentation and writing skills.Knowledge of cost rating plans and related pricing methods and procedures and corresponding ability to determine and/or calculate business exposures, classifications, experience, or other rating place modifications and to credit risks for purposes of determining the appropriate guaranteed cost coverage for each business.Ability to read and interpret financial statements.Ability to analyze and evaluate specific complaints and inquiries regarding insurance contracts, coverages and rating plans.Effective organizational skills including the ability to manage multiple projects and work with minimal direction.Knowledge of design, implementation and interfaces of current systems and applications.Ability to apply confidentiality when appropriate.Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.Ability to establish and maintain effective working relationships with others.Thorough understanding of competitors and alternative markets within each environment.Ability to articulate financial results and impact of strategy to senior management.This position has been evaluated in accordance with the Americans with Disabilities Act. Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it. This description reflects the nature and level of work performed by associates in this position. It is not an all-inclusive inventory of duties, responsibilities and qualifications required. It provides an accurate overview of the work and skills needed to perform this position. Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.
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While we prefer a candidate who can work a hybrid or remote schedule near our Charlotte, North Carolina office (near Ballantyne), we will also consider candidates who reside near Atlanta, GA, Knoxville or Nashville, TN, South Carolina or other states within our Atlantic or Northeast region.The position will report to the Senior Vice President, Commercial Lines - Small Business.Unique residence requirements are listed in each job posting; please review closely for details.Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll.JOB OBJECTIVE:The Regional Vice President, Commercial Lines is responsible for the growth and profitability of their region and market segment. With full P&L accountability, the RVP is expected to improve business results; oversee and direct work that improves quality and efficiency; develop technical competencies in their team and provide products and services to compete effectively in the marketplace. The RVP is also accountable for building agency relationships, overseeing sales activities for their market/region, analyzing business performance and trends and recommend adjustments and responses; review changes and compliance requirements and ensure conformance; and develop external customer knowledge about commercial lines.ESSENTIAL FUNCTIONSEnsure the growth and profitability of a specific market segment and region as measured by their P&L.Oversee and direct the performance of a multi-disciplinary team of professionals and support staff.Develop and implement strategic direction, best practices and business plan objectives.Effectively manage their agency distribution channel and ensure effective sales strategies are executed by their team to drive the growth of the business.Provide expertise to their team and other staff in policy, strategies and tactics, technical disciplines and approaches, development of products and services, processes and workflows including automation and business rules, regulatory compliance and market conduct matters.Ensure superior decisions and work product by performing regular quality control and directing quality audits.Manage development projects including business requirements and timelines that impact coverages, pricing, rating, systems logic, automation and best practices.Direct the development of pricing strategies from the individual risk to portfolio levels using models and methodologies to support a profitable and competitive pricing approach to the market.Oversee and direct the development and implementation of strategic and tactical product and service development initiatives based on trend monitoring, feedback from stakeholders and review of marketplace competitors.Analyze competitor products, services and pricing intelligence and internal product and service trends/results and make recommendations for new and revised products, processes and systems.Present to and train internal and external stakeholders on product and service introductions and enhancements and the associate processes based on a solid understanding of and impact to field constituents such as agents, underwriting, customer service, marketing and policy holders. Develop appropriate supporting materials.Create innovative solutions as a result of competitor and internal trend analysis and work with other disciplines to gather input regarding product and service changes and ideas.Effectively utilize all available data to make appropriate product and service development decisions and recommendations.Responsible for the development of guidelines, policies and procedures that address identified business needs and support the achievement of business results. Determine system impacts as a result of process instructions or changes.Bring a solid understanding of compliance issues and regulatory environment in all project development and implementation.Investigate compliance/regulatory issues and concerns and recommend appropriate business solutions and/or strategies based on those issues.Responsible for the development, use and maintenance of Loss Frequency and Severity Benchmarks.Create and maintain other necessary underwriting instructions and policy.Work with the field sales team to develop state profit and growth strategies including product positioning and marketing approach.Lead a technical pricing team to direct the analysis process and make rate and trend selections to meet profitability goals. Coordinate the rate revision schedule with the systems integration team and field organization.Make fact-based strategic decisions based upon knowledge of the market, which includes competitors, regulatory and legal environment, claims handling trend, and distribution channel/agent relationships.Communicate and coordinate key profit metrics with Claims Operations, Underwriting Operations, and Agency Operations.OTHER FUNCTIONS:Other duties as assigned.KNOWLEDGE, SKILLS AND ABILITIES:A Bachelor's degree from an accredited four-year college or university strongly preferred.Master's degree in management or relevant business area preferred.A minimum of five years of experience with a property/casualty insurance carrier handling commercial lines products including worker's compensation is required.A minimum of five years of management experience preferred.Professional insurance designations relevant to area of expertise desired.Periodic travel in designated region required.Knowledge and ability to develop best practices in assigned areas of expertise.Ability to use relevant information and individual judgement to determine whether processes or decisions comply with regulations or standards.Ability to work effectively in a team environment.Ability to arrange things or actions in a certain order or pattern according to specific rule or set of rules.Ability to use logic and reasoning to identify problems. Review related information and to analyze strengths and weaknesses of alternative solutions, conclusions or approaches, and to implement solutions and/or make improvements.Knowledge of policy and procedures regarding underwriting administration, risk administration and classification, insurance and risk management, accounting or business administration, premium audit or underwriting and loss control.Superior understanding of the form and content of insurance policies.Exceptional communication skills for use in internal team interaction and in collaboration with other business units for information gathering, reporting results, training, etc.Excellent analytical, research, documentation and writing skills.Knowledge of cost rating plans and related pricing methods and procedures and corresponding ability to determine and/or calculate business exposures, classifications, experience, or other rating place modifications and to credit risks for purposes of determining the appropriate guaranteed cost coverage for each business.Ability to read and interpret financial statements.Ability to analyze and evaluate specific complaints and inquiries regarding insurance contracts, coverages and rating plans.Effective organizational skills including the ability to manage multiple projects and work with minimal direction.Knowledge of design, implementation and interfaces of current systems and applications.Ability to apply confidentiality when appropriate.Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.Ability to establish and maintain effective working relationships with others.Thorough understanding of competitors and alternative markets within each environment.Ability to articulate financial results and impact of strategy to senior management.This position has been evaluated in accordance with the Americans with Disabilities Act. Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it. This description reflects the nature and level of work performed by associates in this position. It is not an all-inclusive inventory of duties, responsibilities and qualifications required. It provides an accurate overview of the work and skills needed to perform this position. Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.
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