AVP, Ocean Marine

Sompo International; Paramus (NJ); On-site; USD 110,000 - 185,000; Full time

Job summary

An established industry player in insurance is seeking an Assistant Vice President for their Ocean Marine team. This role involves underwriting and risk analysis for a diverse portfolio of marine offerings. You will collaborate with brokers, ensuring that underwriting guidelines are met while providing exceptional service. The company values integrity and teamwork, offering a supportive environment where employees can thrive. With competitive compensation and a strong focus on employee well-being, this position is perfect for driven professionals looking to make a significant impact in the insurance sector.

Benefits

Medical plans

Dental benefits

401(k) Retirement Savings Plan

Competitive paid-time-off programs

Parental Leave Benefits

Employee Assistance Program

Tax-Free Commuter Benefit

Qualifications

• 8-10 years of experience in Ocean Marine/Cargo underwriting.
• Proficiency in Microsoft Office Suite is essential.

Responsibilities

• Review applications and financial requirements for risk acceptability.
• Prepare quotes for new and renewal business and provide exemplary service.

Skills

Ocean Marine underwriting

Risk analysis

Communication skills

Analytical skills

Team collaboration

Education

Bachelor’s Degree

Tools

Microsoft Office Suite

Job description

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 Description

Sompo has a unique opportunity for an Assistant Vice President in our Ocean Marine team.

The U.S. Insurance Ocean Marine practice offers a full portfolio of Ocean Marine offerings including Marine Liability, Cargo, Blue Water Hull and Brown Water Hull Coverages. Working with a select group of wholesale and retail brokers, our experienced specialists tailor solutions to meet the unique needs of each client. Providing individual risk policies as well as products for niche classes, we deliver risk solutions effectively and responsively.

Location: This position will be based out of our Chicago, IL, New York, NY, or San Francisco, CA office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long-lasting careers.

What you’ll be doing:

1. Able to quickly review applications and financial requirements to determine acceptability of risk in accordance with Sompo guidelines and standards;
2. Understand pricing components, rating methodology and use of rating tools to price risks based on exposures and risk analysis.
3. Demonstrate technical underwriting skills through strategic, thorough account review and file documentation.
4. Use all appropriate underwriting tools, disciplines, and knowledge of strategies to ensure underwriting guidelines are followed.
5. Prepare quotes for new and renewal business, service accounts throughout the policy term, provide exemplary service to brokers.
6. Keep current on state/territory insurance issues, trends, and regulations.

What you’ll bring:

1. 8-10 years of Ocean Marine/Cargo underwriting experience
2. Bachelor’s Degree preferred
3. Experience in working, production; and underwriting all sizes of accounts with large brokerage houses and specialty retailers
4. Experience successfully underwriting, quoting, and binding profitable business
5. Proficiency in Microsoft Office Suite (Excel, Word and PowerPoint);
6. Excellent communication (both written and verbal) skills;
7. Strong analytical and organizational skills;
8. Team player willing to contribute to the whole of the company

Salary Range: $110k - $185k 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:

1. 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
2. Pharmacy benefits with mail order options
3. Dental benefits including orthodontia benefits for adults and children
4. Health Care & Dependent Care Flexible Spending Accounts
5. Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
6. Company-paid Disability benefits with very competitive salary continuation payments
7. 401(k) Retirement Savings Plan with competitive employer contributions
8. Competitive paid-time-off programs, including company-paid holidays
9. Competitive Parental Leave Benefits & Adoption Assistance program
10. Employee Assistance Program
11. Tax-Free Commuter Benefit

In 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, sexual orientation, national origin, or age.

About the company

Sompo International is a leading global specialty provider of property and casualty insurance and reinsurance.