Assistant Vice President-Underwriter, Surety
3 weeks ago
As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.Job DescriptionAre you looking for your next opportunity? Sompo has a unique opportunity for an Assistant Vice President, Surety Underwriter in our Surety Business Unit. In collaboration with the Surety Leadership team, this role is responsible for underwriting risks in a book of Commercial business, while developing and nurturing agency and broker relationships across our growing Surety operation. Location: This position will be based out of our Chicago, IL office. We strive for collaboration which is why we offer a work environmentwhere our employees thrive and develop long lasting careers. Our business, your impact, our opportunity: What you'll be doing: Reviews submissions and financial requirements to determine acceptability of risk in accordance with guidelines and standardsUnderstands pricing components and rating methodology as well as use of the predictive modeling tools to price risk based on financial and competitive analysisPrepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territoryManages assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goalsDevelops producer relationships to build pipeline, agency intelligence, and drives performance to meet and exceed resultsDevelops and implements distributor specific plans, monitors performance, and adjusts plan to ensure a substantial pipeline for future profitable growthDrives effective relationship management and client activities to build trust, facilitate negotiation and secure commitment with the customerWhat you'll bring: Bachelor's degree preferredMinimum 8-10 years of Surety underwriting experienceStrong knowledge of Surety underwriting, techniques, national/local filing regulations and guidelinesKnowledge of underwriting processes, coverages, and tools to gather and evaluate information to reach appropriate decisions on renewals and new businessDemonstrated ability to build and grow a profitable book of business and pipeline for future businessAbility to uncover customer needs, position specific solutions, handle objections and close dealsActual 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 contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefitsIn today's world, what do we stand for? Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo. Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions - we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
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Assistant Vice President-Underwriter, Surety
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