Assistant Vice President – IP Large Property

Job Description

Are you looking for your next opportunity? 

Sompo has a unique opportunity for an Assistant Vice President in our Large Property team.  This position will support our Industry Practice business.   

Sompo North America provides a client-centric white-glove service approach by offering comprehensive multi-line capabilities to accounts in select industry practices including real estate, hospitality, financial institutions, and professional services. Taking a holistic approach to risk management, the unit offers commercial property, primary casualty (general liability, commercial auto, workers' compensation), lead umbrella, and environmental coverages, as well as parametric natural catastrophe products to small, middle-market and large accounts across target industry practices in the U.S.  We also offer the same level of sophisticated services and coverages to Asian-interest accounts in the U.S.

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:

• 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; 
• Good understanding of 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 Complete understanding and ability to use sophisticated pricing models across various structures: guaranteed cost, captives, SIRs, deductibles, etc.

What you’ll bring:

• Minimum 8 plus years of underwriting/insurance experience
• Bachelor’s Degree preferred
• Shared and layered experience, preferably in a primary position
• Well verse and experienced in working, producing, and underwriting all sizes of accounts with the large brokerage houses, agents and specialty retailers
• Experience in underwriting real estate, hospitality, financial institutions, professional services and technical risks
• 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

Salary Range: $150,000.00 - $190,000.00 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