Job Description
Are you looking for your next opportunity?
Sompo has a unique opportunity for a Vice President - Underwriter Team Leader, on our Primary Retail Casualty underwriting team in our NYC, Garden City, NY, Morristown, NJ or Boston, MA office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.
Sompo North America provides a client-centric service approach by offering comprehensive multi-line capabilities. Taking a holistic approach to risk management, the unit offers general liability, commercial auto, and workers' compensation lines of business through a diverse range of program structures including guaranteed cost, SIRs, deductibles, captives, and more. The unit focuses on large accounts across a wide range of industry practices in the U.S., Mexico, and Canada including manufacturing, real estate, hospitality, financial institutions, professional services, life sciences, technology, retail, and Asian-interest accounts. Additionally, engaging in cross-functional collaboration with our property, umbrella/excess, and environmental business units is integral to our organizational identity and success.
Our business, your impact, our opportunity:
What you’ll be doing:
Effectively lead a team of underwriters & manage a book of business that deliver results meeting group long term profitability targets
Oversee the team's compliance with corporate and internal audit standards, ensure adherence to the underwriting authority framework, and verify that proper approvals are obtained for risks, including those requiring referral and actuarial review
Identify new opportunities through a robust marketing effort in assigned regions
Effectively drive acceptable submission activity and quickly determine acceptability of risk in accordance with Sompo guidelines and standards
Good understanding of pricing components and rating methodology; prices risk based on financial and competitive analysis
Ability to analyze and underwrite specific risks such as Real Estate, Hospitality, Financial Institutions, Professional Services Firms, Manufacturing, Life Science, Technology, Retail etc.
Knowledge in General Liability, Workers Compensation and Auto
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 on large casualty business
Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory
Keeps current on state/territory issues, regulations, and trends
Complete understanding and ability to use sophisticated pricing models across various structures: guaranteed cost, captives, SIRs, deductibles, etc.
What you’ll bring:
Minimum of 10+ years of underwriting/insurance experience
Bachelor’s Degree preferred
Well versed and experienced in working, producing, and underwriting all sizes of accounts with the large brokerage houses, agents, and specialty retailers
Established underwriting, quoting, and binding track record of profitable business
Well established relationships with brokers and agents on both a regional and national level
Strong negotiation skills
Team player and collaborative by nature
Strong attention to detail
Excellent oral and written communication skills
Ability to travel for internal/external meetings and client marketing
Salary Range: $145,000 - $240,000 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.
At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.
Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:
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
In today’s world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo; it is a symbol of our promise. Click here to learn more about life at Sompo.
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.
