Business Development Trainee
Job Description
Sompo has a unique opportunity for a 2025 Business Development in our New York, NY office.
Our Trainee Program is an 18-month program beginning in July 2025 designed to equip you with the essential business and technical skills needed to build a successful career in insurance.
As a Business Development Trainee you will work in partnership with the business development team along with underwriters to facilitate relationship with agents and brokers that support our underwriting philosophy and expansion. This can include seeking new business opportunities, building, and sustaining connections with existing clients, entering strategic partnerships, and devising other plans to boost profits and market share.
Our Trainees work directly on their products’ accounts, building relationships and identifying customers’ needs. This rigorous curriculum also includes training in negotiation, risk analysis and relationship management.
Sompo’s Trainee Program serves as a launchpad for career advancement, empowering you to acquire the knowledge and skills essential for success in your respective field.
What can I expect as a Business Development Trainee?
On-The-Job Learning
Insurance requires a high degree of experience and expertise – something you can’t learn in the classroom. As a Trainee, you will be immersed in the day-to-day activities of the team. You’ll be given a rare opportunity to work alongside experts in the field to review claims, analyze coverage and expand overall knowledge.
Directed Self-Study
Professional designation courses give new professionals technical knowledge of insurance operations and industry practices. Sompo supports our employees pursuing continuing educations opportunities by covering the cost for fees and textbooks, offering time off work to take exams and providing additional compensation for successful completion of many courses.
Career Development Support
At Sompo, we are committed to developing our people. We encourage employees to strengthen their skills and expand their understanding of the business. Our Business Develop Trainees receive professional development training on a variety of topics aligned with their respective business unit.
What will I need to be a Business Trainee?
Qualifications, Skills and Experience
Sompo employees are some of the best and brightest in the industry. When recruiting the next generation of Sompo employees, we consider graduating Seniors, and recent college graduates with experience working in insurance, financial services, marketing or sales.
Additional requirements include
• Bachelor’s degree required
• Graduation date between May 2024 and May 2025
• Critical thinking ability and analytical skills
• Strong communication skills
• Ability to work independently and collaborate with others
• Integrity and reliability
• Technical accuracy and software skills
• Willingness to relocate
Salary Range: $65,000 – $77,500 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
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.