Job Description
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Sompo has a unique opportunity for a Vice President and Midwest Regional Manager on our Commercial Property Middle Market team.
Our Commercial Property Middle Market team offers property coverage to commercial accounts with a focus on mid to larger mid-size U.S. domiciled companies across a broad base of occupancy types, including but not limited to: Light & Heavy Manufacturing, Food Processing, Metal Working, Warehousing, Retail Stores, Wholesale Suppliers, Hospitals & Healthcare, Educational Institutions, Transportation. The Middle Market Commercial Specialty Property team offers both 100% single carrier capacity and quota share capacity. We take a collaborative approach to loss control and work closely with our Risk Control Engineers to mitigate risk and partner with our clients to protect their business value. We seek to build long-term relationships with our retail brokers and insureds by providing tailored solutions to risk, market leading claims handling and a consistent and pragmatic approach to underwriting.
Location:This position will be based out of our Chicago, IL office.
We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you’ll be doing:
Manages Staff and all Underwriting within region and drives business results across portfolio.
Reviews applications and financial requirements to determine acceptability of risk in accordance with Sompo International guidelines and standards
Understands pricing components and rating methodology as well as use of the predictive modeling tools; prices risk based on financial and competitive analysis
Uses all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed
Demonstrates 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 CAT guidelines and underwriting discipline to minimize exposure and appropriately price
Keeps current on state/territory issues, regulations and trends
Develop and execute marketing plan aimed at retaining existing business and producing new business
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
Works with Sompo Loss Control property engineers in the triage process in qualifying risks and supporting them in the obtaining compliance with Loss Prevention recommendations as needed
What you’ll bring:
Minimum of 10 years of underwriting/insurance experience;
Experience in working, producing, and underwriting all sizes of accounts with the large brokerage houses, wholesalers, and specialty retailers;
Experience successfully underwriting, quoting, and binding profitable business;
Relationships with large brokers on a national level;
Strong analytical, numeracy, and statistical skills Self-motivated & good time-management
Sound decision-making, judgment, and integrity
Bachelor’s Degree preferred
Salary Range: $190,000.00-$240,000.00 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.
