Job Description
Assistant Vice President Sompo has a unique opportunity for an Assistant Vice President 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 San Francisco, CA, Los Angeles, CA, Irvine, CA and Seattle, WA 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 you'll be doing Effectively drive acceptable submission activity and quickly determine acceptability of risk in accordance with Sompo guidelines and standards. Able to quickly review applications and financial requirements to 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; 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. What you'll bring: Minimum 8 plus years of underwriting/insurance experience Bachelor's Degree preferred Shared and layered experience, preferably in a primary position Well verse 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 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 Salary Range: $120,000.00 - $175,000.00 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience. 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. 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 o