AVP, Retail Business Development

Sompo; Chicago (IL); On-site; USD 150,000 - 200,000; Full time

Benefits offered by this job

Medical plans

Dental & Vision

401(k) with company match

Paid time off

Parental leave

Job summary

Sompo in Chicago, IL, seeks an AVP, Retail Business Development to lead broker relationships and drive revenue opportunities within designated territory. The role reports to the Central Zone Senior Vice President of Business Development.

Responsibilities include identifying new agency relationships, shaping diversification plans, and coordinating internal/external communications to elevate Sompo’s brand and market presence.

Qualifications

• 8+ years of industry experience encompassing underwriting, product development, risk management, distribution strategy, needs assessment and client relationship management.

Responsibilities

• Drive business development strategies with retail/brokerage partners to maximize revenue opportunities within designated territory.
• Serve as a single point of contact externally (agents/brokers) and internally (coordinating office events for senior management and brokers).
• Lead the effort to raise Sompo’s broker relationships and brand awareness.
• Identify and qualify new agency relationships within the region.
• Create a plan to support geographic and product diversification goals.
• Be a primary source of business intelligence and internal communication.
• Distribute regular written communications and status on each key relationship.
• Manage a dynamic prospect list that leads to sustainable, profitable growth for the corporation.
• Actively manage meeting calendars, agendas and follow ups with key agency partners.

Skills

Industry experience

Underwriting

Product development

Risk management

Distribution strategy

Needs assessment

Client relationships

Job description

Are you looking for your next opportunity? Sompo has a unique opportunity for an AVP, Retail Business Development. The position is in our Chicago, IL office reporting into the Central Zone Senior Vice President of Business Development.

The Business Development team plays an important role with decision making responsibility and strong influence that will lead the effort to raise corporate profile, effectiveness, and reputation by deepening and extending our broker relationships and impacting strategic initiatives/business development efforts.

Our Business, Your Impact, Our Opportunity

What you’ll be doing

• Drive business development strategies in conjunction with our retail/brokerage partners that maximize revenue opportunities within designated territory
• Serve as a single point of contact externally (agents/brokers in dealing with product support, quality service, opportunity assessments, and the overall fulfilment of their multiline needs) and internally (coordinating office wide events for both senior management and brokers).
• Lead the effort to raise corporate profile, effectiveness, and reputation by deepening and extending Sompo’s broker relationships and brand awareness
• Identify and qualify new agency relationships within the region
• Create a plan to support Business Unit geographic and product diversification goals
• Be a primary source of business intelligence and internal communication
• Distribute regular written communications and status on each key relationship
• Manage a dynamic prospect list that leads to sustainable, profitable growth for the corporation
• Actively manage meeting calendars, agendas and follow ups with our key agency partners

What You’ll Bring

• Highly visible and well known to the agency community; existing relationships in the local brokerage community is mission critical
• 8+ years of industry experience with responsibilities encompassing: underwriting, product development, risk management, distribution strategy, needs assessment, and client relationship management
• Deep understanding of agent/broker’s marketing and distribution strategies
• Strong business development, client engagement and relationship management skills
• Must be willing to travel

Salary Range: $150,000 - $200,000. 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.

Summary

• 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

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, sex orientation, national origin, or age.