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VP, Chief Underwriting Officer

Employer
Canal Insurance Company
Location
Greenville, South Carolina
Salary
Competitive
Closing date
Jun 1, 2021

View more

Category
Underwriting, Executive / Management
Job Type
Full Time
Career Level
Executive

Job Details

About Canal Insurance

Canal Insurance Company specializes in insurance for commercial trucking and specialty transportation operations. Canal was founded in 1939 and is located in Greenville, South Carolina. At Canal, we recognize that our success would not be possible without the hard work and dedication of our employees. We know that happiness and productivity go hand in hand, and to that end, we consciously cultivate a culture that enables us to recruit and retain the very best talent in the business.

Vice President, Chief Underwriting Officer

Job Summary: The Vice President, Chief Underwriting Officer position is responsible for using a thorough knowledge of commercial insurance coverage, risk selection, pricing tools, and underwriting procedures and workflows to provide strategic and operational leadership to Canal’s underwriting operation.

Major Accountabilities:

  1. Drive Canal’s underwriting strategy and operating practices.
  2. Actively participate on senior team collectively managing operations, charting strategic course, and driving increased shareholder value.
  3. Effectively delegate underwriting authority and appropriately channel disciplined, competence-based decision making via the referral process
  4. Ensure profitable management of risk selection and pricing of risk for each underwriting portfolio.
  5. Oversee Underwriting operations units to ensure appropriate support is provided.
  6. Analyze Underwriting results at an appropriate level of detail to identify problems and opportunities.
  7. Mentor underwriting AVP direct reports on both technical underwriting matters and management development.
  8. Maintain and advance a performance environment that effectively recruits, develops, advances, retains and rewards members of the underwriting team
  9. Collaborate with Innovation, Product Management, Marketing, and Corporate Communication teams to design, incubate, launch and promote new Canal products and services
  10. Performs other duties as assigned by Management.

Education/Training Requirements: Bachelor’s degree required, Graduate level degree preferred.

Experience/Specialized Skills: 

  • Minimum of ten years underwriting operations experience in property and casualty insurance required.
  • Experience in Commercial Transportation or Trucking preferred. 
  • Minimum of seven years of management experience required. 
  • Advanced technical coverage knowledge and knowledge of risk selection, pricing, and policy issuance required.  Advanced ability to analyze contracts and workflow required. 
  • Advanced understanding of business, claims, and accounting processes required.   
  • Advanced computer skills (word processing, spreadsheets, databases, Internet, E-mail) required. 

Special Considerations

Physical Requirements: Constant use of vision, hearing, and communication (oral and written in person and via telephone).  Frequent concentration, standing, walking, handling, reaching, and grasping.  Occasional bending, kneeling and lifting (up to 25 lbs.).  Heavy use of computer and office equipment.

Additional Requirements: Travel will be required.  Periodic work outside of standard business hours or on weekends may be required.

 

Company

Canal Insurance has been dedicated to serving truckers from its early beginnings. In 1933, William R. Timmons established an insurance agency, which specialized in truck insurance. For nine years, the Wm R. Timmons Agency labored to place long haul business with responsible insurers. But mortality among the companies was alarming. In eight years, four major companies failed. During that time, Bill Timmons and T.J. Mims, who joined the agency in 1938 and would later become President of Canal, watched diligently for warning signs and moved their client's business before each collapse. When these Insurance company failures became more than an inconvenience to Timmons and Mims, a plan was conceived to acquire a company to underwrite the agency's growing book of truck business. Meanwhile, Canal Insurance was founded in 1939 in Columbia, South Carolina to insure automobiles financed by Canal's banking parent and in 1942, Timmons acquired the virtually inactive insurer, moved it to Greenville, South Carolina, and began to underwrite commercial trucking operations. Today, over seventy years later, we are still dedicated to commercial auto, which accounts for over 85% of Canal's written premiums. Originally licensed in one state with $17.5 thousand in surplus, Canal is now licensed in 46 states with over $400 million in policyholder surplus. Rated A- by A.M. Best, Canal Insurance Company continues to grow through the knowledge and commitment of our employees and the independent insurance agents who represent us.

Company info
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