AVP, IP Large Property
About The Position
Sompo is seeking an Assistant Vice President for its Large Property team to support its Industry Practice business. Sompo North America serves accounts in selected industry practices—including real estate, hospitality, financial institutions, and professional services—with a client-centric, white-glove approach. Its offerings include commercial property, primary casualty, lead umbrella, environmental, and parametric natural catastrophe products for small, middle-market, and large U.S. accounts, as well as services and coverages for Asian-interest accounts in the U.S. This position is based in Sompo’s Chicago, Illinois office. The role is responsible for evaluating and pricing property risks in accordance with Sompo’s underwriting guidelines and standards. The AVP reviews submissions, applications, and financial information; uses underwriting tools and pricing models; documents account reviews; and supports underwriting decisions and results within the assigned territory.
Requirements
- At least 8 years of underwriting or insurance experience.
- Experience with shared and layered accounts, preferably in a primary position.
- Experience working with, producing, and underwriting accounts of all sizes through large brokerage houses, agents, and specialty retailers.
- Underwriting experience in real estate, hospitality, financial institutions, professional services, and technical risks.
- Established track record of underwriting, quoting, and binding profitable business.
- Proven ability to build and maintain strong business relationships with insureds, agents, and brokers at regional and national levels.
- Strong negotiation skills.
- Collaborative, team-oriented approach.
- Strong attention to detail.
Nice To Haves
- Bachelor’s degree preferred.
Responsibilities
- Drive acceptable submission activity and promptly determine whether risks meet Sompo’s guidelines and standards.
- Review applications and financial requirements to assess risk acceptability.
- Apply knowledge of pricing components and rating methodology, pricing risks based on financial and competitive analysis.
- Use appropriate underwriting tools, disciplines, and strategies to ensure underwriting guidelines are followed.
- Conduct strategic and thorough account reviews and maintain strong underwriting file documentation.
- Prepare or analyze information concerning adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory.
- Follow underwriting guidelines and discipline to minimize exposure and appropriately price risks.
- Stay current on state and territory issues, regulations, and trends.
- Use sophisticated pricing models across structures such as guaranteed cost, captives, SIRs, and deductibles.
Benefits
- Choice of two medical plans: Traditional PPO and Consumer Driven Health Plan with a Health Savings Account and employer contribution.
- Pharmacy benefits, including mail-order options.
- Dental benefits, including orthodontia coverage for adults and children.
- Vision benefits.
- Health Care and Dependent Care Flexible Spending Accounts.
- Company-paid life and AD&D benefits, with optional supplemental coverage for employees, spouses, and children.
- Company-paid disability benefits with salary continuation payments.
- 401(k) Retirement Savings Plan with employer contributions.
- Paid time off and company-paid holidays.
- Parental leave benefits and adoption assistance.
- Employee Assistance Program.
- Tax-free commuter benefit.
- Tuition reimbursement and professional qualification benefits.
- Performance-based incentives as part of total compensation.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
