Sr. Underwriter, IP Large Property
About The Position
Sompo has an opportunity for a Senior Underwriter on its Large Property team supporting the Industry Practice business. Sompo North America provides a client-centric, white-glove service approach and comprehensive multiline capabilities to accounts in selected industry practices, including real estate, hospitality, financial institutions, and professional services. Its offerings include commercial property, primary casualty, lead umbrella, environmental coverages, and parametric natural catastrophe products for small, middle-market, and large U.S. accounts, as well as sophisticated services and coverages for Asian-interest accounts in the U.S. The position is based in either the Chicago, Illinois, or Boston, Massachusetts office. The Senior Underwriter evaluates and prices risks, applies underwriting guidelines and tools, reviews accounts and documentation, and supports profitable business development across the assigned territory. The role works with insureds, agents, brokers, and specialty retailers. The stated salary range is $100,000 to $170,000. Actual compensation depends on factors including work location, qualifications, skills, competencies, and relevant experience. Sompo describes total compensation for regular full-time employees as a combination of base salary and incentives, with awards influenced by company and individual performance. Eligible employees may participate in the company’s compensation and benefits programs.
Requirements
- At least 5 years of underwriting or insurance experience.
- Experience with shared and layered business, preferably in a primary position.
- Experience working with, producing, and underwriting accounts of all sizes through large brokerage houses, agents, and specialty retailers.
- Experience underwriting 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-player approach.
- Strong attention to detail.
Nice To Haves
- Bachelor’s degree preferred.
Responsibilities
- Drive acceptable submission activity and quickly determine risk acceptability in accordance with Sompo guidelines and standards.
- Review applications and financial requirements to assess risk acceptability.
- Apply understanding of pricing components and rating methodology; price risks based on financial and competitive analysis.
- Use appropriate underwriting tools, disciplines, and strategy knowledge to ensure underwriting guidelines are followed.
- Conduct thorough, strategic account reviews and document underwriting files.
- Prepare or analyze information about adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory.
- Adhere to underwriting guidelines and discipline to minimize exposure and appropriately price risks.
- Keep current on state and territory issues, regulations, and trends.
- Use sophisticated pricing models across structures such as guaranteed cost, captives, SIRs, and deductibles.
- Build and maintain business relationships with insureds, agents, and brokers at regional and national levels.
Benefits
- Two medical plans, including a Traditional PPO and a Consumer Driven Health Plan with a Health Savings Account and employer contribution
- Pharmacy benefits with mail-order options
- Dental benefits, including orthodontia benefits for adults and children
- Vision benefits
- Health Care and Dependent Care Flexible Spending Accounts
- Company-paid Life and AD&D benefits, with optional supplemental life 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 programs and company-paid holidays
- Parental leave benefits
- Adoption assistance program
- Employee Assistance Program
- Tax-free commuter benefit
- Tuition reimbursement
- Professional qualification benefits
- Incentive awards as part of total compensation for regular full-time employees
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Senior
