About the Opportunity
Sompo has a unique opportunity for an Assistant Vice President in our E&S Property team. Our E&S Property team considers all types of commercial occupancies for catastrophe protection based on individual risk characteristics. We entertain single location risks as well as large schedules of locations and consider risks throughout the US including those located in both catastrophe prone and non-catastrophe prone areas.
Location: This position will be based out of our Chicago, IL; New York, NY; Morristown, NJ, Garden City, NY, Purchase, NY and Boston, MA areas.
What you’ll be doing
- Effectively drive acceptable submission activity and quickly determine acceptability of risk in accordance with Sompo guidelines and standards.
- Able to quickly review applications and financial requirements to determine acceptability of risk in accordance with Sompo guidelines and standards.
- Understands pricing components and rating methodology; prices risk based on financial and competitive analysis.
- Uses all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed.
- Exhibits strong technical underwriting skills through strategic, thorough account reviews and file documentation.
- Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory.
- Adheres to guidelines and underwriting discipline to minimize exposure and appropriately price risks.
- Keeps current on state/territory issues, regulations, and trends; and has complete understanding and ability to use sophisticated pricing models across various structures: guaranteed cost, captives, SIRs, deductibles, etc.
- Attend client/broker meetings, lunches, dinners and other social outings as applicable.
- Willingness to travel to aggressively market assigned territory.
- Assist in mentoring Underwriting Trainees and junior underwriters.
What You’ll Bring
- Minimum 8 plus years of underwriting/insurance experience.
- Bachelor’s Degree preferred.
- Experience in working, producing, and underwriting all sizes of accounts with the large brokerage houses, wholesalers, and specialty retailers.
- Established underwriting, quoting, and binding track record of profitable business.
- Proven track record of building and maintaining strong business relationships with insureds, agents & brokers on both a regional and national level.
- Strong negotiation skills.
- Team player and collaborative by nature.
- Strong attention to detail.
- Travel as needed.
Salary Range
$150,000 – $185,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.
Benefits Summary
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution.
- Pharmacy benefits with mail order options.
- Dental benefits including orthodontia benefits for adults and children.
- Vision benefits.
- Health Care & Dependent Care Flexible Spending Accounts.
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children.
- Company-paid Disability benefits with very competitive salary continuation payments.
- 401(k) Retirement Savings Plan with competitive employer contributions.
- Competitive paid-time-off programs, including company-paid holidays.
- Competitive Parental Leave Benefits & Adoption Assistance program.
- Employee Assistance Program.
- Tax-Free Commuter Benefit.
- Tuition Reimbursement & Professional Qualification benefits.
Equal Opportunity Statement
Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
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