Senior Product Analyst

Farm Mutual Reinsurance Plan Inc; Cambridge; Hybrid; CAD 85,000 - 105,000; Full time

Benefits offered by this job

Flexible hybrid work environment

Wellness plan with on-site gym

Professional development opportunities

Paid volunteer day

Competitive salary and benefits

Job summary

Farm Mutual Reinsurance Plan Inc. in Cambridge, Ontario, invites a Senior Product Analyst to shape underwriting policies for PPA, IRCA, Fleet, Garage Auto and MISC lines within the OMAP.

Reporting to the Manager, Product and Underwriting, you will develop guidelines, draft wordings, analyze market trends, and maintain product documentation, while staying compliant with regulatory requirements and building strong stakeholder relationships.

Qualifications

• Bachelor’s degree or diploma in insurance, business, or risk management.
• 5+ years underwriting experience in P&C, including auto and commercial lines.
• CIP designation completed or in progress.
• Strong knowledge of policy wordings and regulatory requirements.
• Detail-oriented in a regulated environment with adherence to processes.
• Excellent written and oral communication skills.

Responsibilities

• Develop, maintain, and enhance underwriting policies, procedures, and product guidelines to support risk management and business objectives.
• Draft, review, and update policy wordings for clarity, accuracy, and regulatory compliance.
• Research, analyze, and recommend underwriting rules, risk selection criteria, and product enhancements.
• Create and maintain supporting product documentation and reference materials, including rate manuals and underwriting resources.
• Monitor regulatory developments to identify risks, opportunities, and impacts on product performance.
• Build and maintain relationships with regulatory bodies, industry partners, and technology vendors.

Skills

Underwriting experience

Regulatory knowledge

Policy wordings

Stakeholder management

Communication skills

Education

Bachelor's degree or diploma in related field

CIP designation

Job description

Description

We have an excellent opportunity to join Farm Mutual Re, one of Waterloo Region's top employers, as a Senior Product Analyst in our Ontario Mutuals Automobile Plan (OMAP) department. OMAP is a department which provides product, underwriting, actuarial, regulatory, and systems support to a group of Ontario Mutual Insurance Association (OMIA) companies that underwrite automobile insurance in Ontario and have elected to do a common filing with the Financial Services Regulatory Authority (FSRA). This group of 29 mutual insurance companies writes a combined annual automobile insurance premium base of approximately $400M.

The Opportunity

Reporting to the Manager, Product and Underwriting, the Senior Product Analyst is responsible for advising on product and underwriting for the Private Passenger Auto (PPA), Individually Rated Commercial Auto (IRCA), Fleet, Garage Auto, and Miscellaneous (MISC) lines of business. This role establishes underwriting policies and procedures, writing and amending wordings, and researching and developing new products.

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.
• 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:

• Bachelor’s 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 auto insurance, commercial auto, and/or commercial lines
• 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
• 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 $85,000 - $105,000.

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.

What’s 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

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 [e-mail].

We may use artificial intelligence to support elements of the recruitment process. While these tools assist our teams, our use of AI does not replace human decision making.