Senior Auto Product & Underwriting Analyst

We have an excellent opportunity to join Farm Mutual Re one of Waterloo Regions top employers as a Senior Auto Product & Underwriting Analyst with the Ontario Mutuals Automobile Plan (OMAP).

OMAP provides product underwriting actuarial regulatory and systems support to 29 Ontario Mutual Insurance Association (OMIA) companies that participate in a common automobile insurance filing with the Financial Services Regulatory Authority of Ontario (FSRA). Collectively these companies write approximately $400M in annual automobile insurance premium.

The Opportunity

Reporting to the Manager Product and Underwriting the Senior Auto Product & Underwriting Analyst supports auto product and underwriting initiatives for OMAP and Farm Mutual Re by providing research analysis and technical expertise. This role contributes to product development and enhancement underwriting practices policy wording development regulatory filing activities and market research to support competitive compliant and effective auto insurance solutions.

This position offers a hybrid work environment with a primary corporate office in Cambridge and access to a satellite office in Toronto.

As the successful candidate you will:

• Develop maintain and enhance underwriting policies procedures and product guidelines to support effective risk management and business objectives.
• Draft review and update policy wordings to ensure clarity accuracy and regulatory compliance.
• Research analyze and recommend underwriting rules risk selection criteria and product enhancements based on market trends and business needs.
• Create and maintain supporting product documentation and reference materials including rate manuals and underwriting resources.
• Support the preparation submission and maintenance of regulatory filings including rates rules underwriting manuals and product filings as required.

• Monitor legislative regulatory and market developments to identify emerging risks opportunities and potential impacts on product performance and profitability.

• Build and maintain strong relationships with key stakeholders including regulatory bodies industry partners and technology vendors to support product development and ongoing compliance.

Your Skills and Qualifications:

• Bachelors degree or diploma in a related insurance business or risk management program and/or an equivalent combination of education and experience

• 5 years of underwriting experience in the Property & Casualty insurance industry including experience in automobile insurance. Experience in commercial auto or commercial lines is considered an asset.

• CIP designation completed or actively pursuing completion
• Strong knowledge of insurance policy wordings endorsements the Insurance Act Highway Traffic Act and other applicable regulatory requirements with the ability to interpret and apply them effectively
• Experience or familiarity with insurance regulatory filings including rate rule underwriting manual or product filings is considered an asset but is not required. Exposure to working with insurance regulators or regulatory requirements would also be beneficial.
• Highly detail-oriented with demonstrated experience working in a regulated environment and adhering to established processes compliance requirements and underwriting standards
• Excellent oral and written communication skills with the ability to build effective relationships with internal and external partners

This posting represents a current existing vacancy within our organization.

Compensation

The expected base salary range for this position is $85000 - $105000.

The actual salary will be determined based on factors including but not limited to market conditions relevant experience job related knowledge skills abilities qualifications and education.

Employees may also have the opportunity to participate in incentive programs to earn additional compensation. Incentive compensation is tied to established business and individual performance targets.

Whats in it for you

• Flexible hybrid work environment which balances remote and in-office work
• A comprehensive wellness plan including personalized health coaching fitness classes and access to an on-site gym
• Ongoing professional development opportunities such as paid education training certifications mentorship programs and personalized career development plans
• Paid volunteer day to give back to your community
• In addition to our competitive salary employees also receive exceptional employer-paid benefits a defined benefit pension plan and more to support their future

How to Apply

Select Apply now to submit your application.

Farm Mutual Re is committed to creating an equitable diverse and inclusive work environment for all. We provide accommodations that help achieve a barrier-free workplace. If you require an accommodation to participate in the recruitment process please contact

Required Experience:

Senior IC