Vice President, Retail Business Development

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, or Vice President, Retail Business Development depending on experience. The position is in our LA office reporting into the Senior Vice President, Retail 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 agency relationships and impacting strategic initiatives/business development efforts.

What you will be doing

• Drive key business development strategies (broker diversification, account targeting and cross-sell) in conjunction with our agency/brokerage partners that maximize revenue opportunities across a wide 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 our agency/brokerage relationships:
  • Support the overall strategic management of the key broker relationships.
  • Work to learn their businesses and support specific areas of broker interaction and marketing.
  • Develop under-served territories.
  • Identify and qualify new agency relationships.
• Be a primary source of business intelligence and internal communication.
• Travel: 25%-50%

What you’ll bring:

• Minimum of 10 + years of industry experience with responsibilities encompassing: underwriting, product development, risk management, distribution strategy, needs assessment, and client relationship management.
• Highly visible and well known to the agency community; Ability to establish relationships in the local brokerage community is mission critical.
• Deep understanding of agent/ broker's marketing and distribution strategies.
• Strong business development, client engagement and relationship management skills including account rounding, and retention relationship management, and business development skills.
• BA Degree preferred.

Salary Range: $140,000 – $220,000. 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.

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 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.

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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