AVP, IP Large Property
About The Position
Sompo North America has a unique opportunity for an Assistant Vice President in their Large Property team, supporting the Industry Practice business. The company offers a client-centric, white-glove service approach with comprehensive multi-line capabilities for select industry practices including real estate, hospitality, financial institutions, and professional services. They provide commercial property, primary casualty, lead umbrella, environmental coverages, and parametric natural catastrophe products to various account sizes across target industry practices in the U.S. Additionally, they offer sophisticated services and coverages to Asian-interest accounts in the U.S. This position is based in the Chicago, IL office and fosters a collaborative work environment for employee growth and career development.
Requirements
- Minimum 8 plus years of underwriting/insurance experience
- 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, 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
Nice To Haves
- Bachelor’s Degree preferred
Responsibilities
- Effectively drive acceptable submission activity and quickly determine acceptability of risk in accordance with Sompo guidelines and standards.
- Quickly review applications and financial requirements to determine acceptability of risk in accordance with Sompo guidelines and standards.
- Understand pricing components and rating methodology; price risk based on financial and competitive analysis.
- Use all appropriate underwriting tools, disciplines, and knowledge of strategies to ensure underwriting guidelines are followed.
- Exhibit strong technical underwriting skills through strategic, thorough account reviews and file documentation.
- Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory.
- Adhere to guidelines and underwriting discipline to minimize exposure and appropriately price risks.
- Stay 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.
Benefits
- 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
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
