Senior Underwriter - Cyber and Technology E&O

About the Role

Sompo invites applications for a Senior Underwriter position within the Sompo Pro Canadian team based in Toronto, Ontario. This role is focused on supporting the Canadian Domestic platform by underwriting Cyber and Technology Errors and Omissions (E&O) insurance risks. The incumbent will be responsible for assessing risk factors, determining appropriate coverage and pricing, and collaborating with relevant parties to develop strategies aligned with company objectives.

Key Responsibilities

• Conduct detailed review and analysis of Cyber and Technology E&O insurance proposals to identify risk exposures.
• Analyze historical loss trends, risk management approaches, financial documents, and additional information to establish coverage terms and pricing.
• Engage in negotiations of policy conditions and prices with brokers and clients, ensuring adherence to established underwriting guidelines and profitability goals.
• Manage the existing portfolio including processing renewals, endorsements, and cancellations efficiently.
• Stay informed about market trends, industry changes, and regulatory updates to accurately evaluate risks and tailor coverage solutions.
• Offer technical expertise and provide mentorship to junior underwriting staff.
• Build and nurture strong relationships with brokers, clients, and other stakeholders to aid in business expansion and cooperation.
• Contribute to special projects, initiatives, and prepare necessary reports as directed.

Qualifications and Experience

• Possession of a Bachelor’s degree or equivalent relevant professional experience.
• Minimum of five years specialized experience in underwriting Cyber and Technology E&O risks, preferably within the Canadian market.
• Established professional relationships with Canadian brokers and agents are advantageous.
• Relevant certifications such as Chartered Insurance Professional (CIP), Fellow Chartered Insurance Professional (FCIP), or Certified Risk Manager (CRM) are beneficial.
• Ability to analyze data effectively, interpret financial statements, and experience using underwriting tools and technology.
• Strong negotiation and communication skills, both verbal and written, capable of building effective interactions with clients, brokers, and colleagues.
• Capacity to perform both independently and collaboratively in a dynamic, fast-paced environment with shifting priorities.
• Knowledge of Canadian insurance regulations and current market dynamics.
• Willingness and ability to travel as needed.
• Proficiency in French is considered an asset.

Compensation and Benefits

The salary band for this position ranges from $115,000 to $150,000 annually, with final compensation reflective of factors such as geographical cost of living, individual qualifications, skills, and experience. Sompo provides a competitive salary package complemented by extensive benefits and opportunities for career advancement.

Company Values and Workplace Culture

Sompo is dedicated to creating meaningful value for clients and communities while fostering a respectful, inclusive, and empowering work environment. Rooted in our core values of Accountability, Agility, Collaboration, Development, and Integrity, we emphasize trust and mutual support. Our hiring and talent development practices promote equity, diversity, and accessibility. Accommodations for persons with disabilities throughout the application process are available upon request to ensure fair employment opportunities.

Additional Information

This description outlines the typical responsibilities and qualifications for the role; however, the company reserves the right to reassign duties as needed.