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New York, New York, United States
Onsite
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Sompo has a unique opportunity for a Reinsurance Property Facultative Claims Specialist in our NA Reinsurance Claims team.
SompoRe operates in key markets worldwide, bringing to each account our specialized capabilities for a wide range of reinsurance products and a depth of understanding of local cultures. Our disciplined approach to risk management and claims handling, coupled with strong analytical skills, enables us to provide broad multiline capability to successfully underwrite risks across our clients’ insurance portfolios. With global experience and local expertise in key markets worldwide, SompoRe has deep bench strength across all disciplines and above all, remains a stable and constant trading partner throughout all market cycles.
Location: This position will be based out of our New York City, Purchase, NY or Morristown, NJ office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our business, your impact, our opportunity:
What you’ll be doing:
Claims Handling and Portfolio Management
· Handle assigned property facultative and treaty reinsurance claims from first notification through to resolution, ensuring timely and accurate processing in accordance with company procedures and controls.
· Assess loss exposures, including review and interpretation of policy and reinsurance contract coverage, liability, damages, and reserve adequacy across the assigned portfolio.
· Manage a portfolio primarily consisting of property, with the flexibility to assist with other lines of business where required.
· Monitor loss developments and ensure that significant issues, trends, and exposures are identified and escalated appropriately.
· Maintain accurate and complete claim file documentation, diary management, and supporting documents records.
Technical Analysis and Reserving
· Establish and maintain timely and accurate loss reserves and contribute to reserve review discussions where appropriate.
· Evaluate the quality, completeness, and reliability of claims information provided by cedants, brokers, experts, counsel, and other stakeholders.
· Interpret contract terms and conditions relevant to each claim, including coverage structure, retentions, attachment points, limits, exclusions, aggregates, and other relevant provisions.
· Support analysis of loss trends and claims development to assist management, actuarial, finance, and underwriting colleagues.
Stakeholder Engagement and Client Service
· Build and maintain effective working relationships with brokers, cedants, underwriters, actuaries, finance teams, and other internal and external business partners.
· Attend claims meetings with current and prospective cedants and brokers, as required.
· Provide clear and concise verbal and written communication on claims strategy, claim developments, reserve changes, and areas of concern.
· Deliver a high standard of service and build credibility with brokers and cedants as a trusted partner in the claims handling process.
· If required, represent Sompo Re at market events, and, where appropriate, in professional associations.
Collaboration and Business Support
· Work closely with underwriting teams to provide feedback on claims activity, contract wording issues, and emerging trends affecting the portfolio.
· Assist with the preparation and interpretation of data, management information, and reporting related to claims development and portfolio performance.
· Support colleagues on cross-functional initiatives, projects, audits, and process improvement activities as required.
· Contribute to a collaborative team environment and provide support to other claims colleagues where needed.
Compliance, Governance and Process Discipline
· Ensure all assigned claims are handled in compliance with internal procedures, regulatory requirements, and applicable claims handling standards.
· Maintain awareness of relevant market practices and jurisdictional considerations relevant to property reinsurance claims.
· Ensure appropriate escalation of complex, high-value, contentious, or reputationally sensitive matters.
· Support accurate claims reporting and audit readiness through disciplined file management and documentation standards.
What you’ll bring:
· 3–10 years’ relevant claims experience, ideally gained in insurance or reinsurance claims handling.
· Experience in property reinsurance claims handling is preferred but not required.
· Good understanding of insurance and reinsurance contract terms and conditions, including different reinsurance structures and their application to claims.
· Ability to assess liability, damages, exposure, and reserve adequacy using incomplete or evolving information.
· Strong analytical capability and sound judgment in reviewing claims data and claim-related documentation.
· Relevant professional qualifications, or progress towards them, would be advantageous but are not essential. Juris Doctor status preferred.
· Strong digital literacy and confidence using business software and new technologies; familiarity with claims platforms and market systems would be advantageous.
· Analytical, diligent, and detail-oriented approach to claims assessment and file management.
· Ability to manage multiple priorities effectively and work in a structured and organized manner.
· Strong interpersonal skills and the ability to build credibility with internal and external stakeholders.
· Customer-oriented, with the ability to balance technical accuracy and business objectives.
· Collaborative team player with a proactive and flexible approach.
· Resilient and dependable, with the ability to manage competing demands and work under pressure where required.
· Potential for occasional travel to support business needs.
Salary Range: $100,000 – $130,000. 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:
Who we are and what we stand for:
At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page
Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.