VP, Midwest Regional Manager: Commercial Property
About The Position
Sompo is seeking a Vice President and Midwest Regional Manager for its Commercial Property Middle Market team. This team provides property coverage to commercial accounts, focusing on mid to larger mid-size U.S. domiciled companies across various occupancy types such as Manufacturing, Food Processing, Warehousing, Retail, Healthcare, and Educational Institutions. The team offers both 100% single carrier capacity and quota share capacity. Sompo emphasizes a collaborative approach to loss control, working with Risk Control Engineers to mitigate risk and partner with clients. The goal is to build long-term relationships with retail brokers and insureds by offering tailored risk solutions, market-leading claims handling, and a consistent underwriting approach. This position is based in the Chicago, IL office, promoting a collaborative work environment. Sompo is a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance, employing approximately 10,000 people worldwide and building on 137 years of innovation from its parent company, Sompo Holdings, Inc.
Requirements
- Minimum of 10 years of underwriting/insurance experience
- Experience in working, producing, and underwriting all sizes of accounts with the large brokerage houses, wholesalers, and specialty retailers
- Experience successfully underwriting, quoting, and binding profitable business
- Relationships with large brokers on a national level
- Strong analytical, numeracy, and statistical skills
- Self-motivated & good time-management
- Sound decision-making, judgment, and integrity
Nice To Haves
- Bachelor’s Degree preferred
Responsibilities
- Manages Staff and all Underwriting within region and drives business results across portfolio
- Reviews applications and financial requirements to determine acceptability of risk in accordance with Sompo International guidelines and standards
- Understands pricing components and rating methodology as well as use of the predictive modeling tools; prices risk based on financial and competitive analysis
- Uses all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed
- Demonstrates 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 CAT guidelines and underwriting discipline to minimize exposure and appropriately price
- Keeps current on state/territory issues, regulations and trends
- Develop and execute marketing plan aimed at retaining existing business and producing new business
- Attend client/broker meetings, lunches, dinners and other social outings as applicable
- Willingness to travel to aggressively market assigned territory
- Assist in mentoring Underwriting Trainees and junior underwriters
- Works with Sompo Loss Control property engineers in the triage process in qualifying risks and supporting them in the obtaining compliance with Loss Prevention recommendations as needed
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
Manager
