Underwriting Assistant/Senior Assistant To The Underwriter-Reinsurance

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

Underwriting Assistant / Sr. Assistant to the Underwriter

Reinsurance

Position supports the reinsurance underwriting function on a technical and analytical level, including underwriting systems knowledge and data input, diary maintenance, and contract wording review, system process management, and report creation. Account monitoring and analysis, process management and portfolio support assistance are expected within this level. Position will interact with Business Unit Manager and Underwriting team, Underwriting Support Manager, Reinsurance Accounting, Cash & Collections, Reinsurance Claim, Actuarial and Legal. The title of the role with either be Underwriting Assistant or Sr. Assistant to the Underwriter, depending on one's experience.

Responsibilities include:

Underwriting System Support

• Interpret and analyze deal for independent data input into system application

• Manage programs for underwriting manager and team by creating reports within the applications

• Provide system/process improvement through feedback and suggestions

Underwriting technical support and analysis- Underwriting Team

• Provide all initial and key preparation for renewal, including collecting prior year's data, experience and any accounting issues. Enter new business into system and set up program with applicable industry data.

• Quarterly account monitoring - experience, overdue accounts and cash receipts and tracking of all adjustments related to the contracts

• Ensure all documentation is filed within application to support final contract terms

• Slip/Contract Renewal Comparison

• Slip/Contract Review for deal accuracy

• Diary system for slip/wording receipt

• Diary system for renewal submission receipt

• Communication with Brokers and Clients when necessary

• Liaison with Finance department to provide them necessary premium reporting

• Liaison with IT, Claims and Business Services regarding account processing

Underwriting technical support - Business Unit Manager

• Create and maintain Portfolio management reports for Business Unit Manager

• Assist Business Unit Manager with research for marketing, and miscellaneous related projects and management objectives, or as otherwise requested.

Underwriting Reports

• Understanding and usage skill of Company Underwriting reporting applications

• Creation and maintenance of reports for product specific tracking & control

Mentoring/Development

• Attend periodic Support team meetings held by Underwriting Support Manager and provide Process improvements suggestions

Miscellaneous underwriting support/projects

• Provide systems UAT testing, when required

• Assist Underwriters and Manager with research on prospects, industry issues, financial analysis, etc. as needed using S&P, AM Best or other data sources.

• Backs up Underwriting Support Manager for specific assignments and projects

Desired Skills & Experience:

College Degree or related equivalent work experience. Prefer a minimum 5 years corporate experience with mandatory reinsurance industry experience, whether broker, Reinsurance Company or ceded department of Primary Company. Knowledge of Reinsurance Contract Wording skills is preferred. Reinsurance and Insurance designations are desired. Strong computer skills required, Excel and Power BI reporting skills desired. Candidate must be flexible, team oriented, demonstrate strong technical and analytical skills along with the ability to multi‐task and prioritize assignments from multi‐persons. Responsible for accurate data input with strong attention to detail and quality control (proof work and follow‐up where necessary). Must be able to create and run reports specifically utilizing Excel preferably skilled with Pivot tables. Must be proactive and willing to manage the system process.

Salary Range: $75,000- $135,000 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 committed to a diverse workforce. M/F/D/V