Sr. Underwriter, Industry Practice, Large Property
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Sr. Underwriter, Industry Practice, Large Property
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As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people . At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Sompo has a unique opportunity for a Sr. Underwriter 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 verticals 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 verticals 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 one of our New York, NY, Conshohocken , PA , Morristown, NJ and Boston, MA offices. 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 youll be doing:
- 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 joint venture partners and underwrite foreign parents of US subsidiaries on reverse flow business.
- 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.
- Ability to navigate varying program structures: shared and layered (primary, excess or quota share) placements or single carrier placements
- Minimum 5 plus years of underwriting/insurance experience
- Bachelors Degree preferred
- Shared and layered experience, preferably in a primary position
- Well versed 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 and professional services
- Established underwriting, quoting, and binding track record of profitable business
- Well established relationships with brokers and agents on both a regional and national level
- Ability to thrive in a fast-paced and dynamic environment
- Strong expertise in working with broker manuscript forms and have exposure to top-tier brokers, demonstrating a deep understanding of the insurance market and client needs.
- This role involves a blend of field marketing with broker partners and direct client interactions
- Strong negotiation skills
- Team player and collaborative by nature
- Strong attention to detail
- Hybrid work model
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.
Summary
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
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 everyones unique contributions we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
Seniority level
Seniority level
Mid-Senior level
Employment type
Employment type
Full-time
Job function
Job function
Finance and Sales-
Industries
Insurance
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