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 * Sections
   * Critical Risks
   * Risk Management
   * The Insurance Industry
   * Claims & The Law
   * Workers’ Comp Forum
   * Risk Insiders
   * Sector Focus
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RISK ALL STARS



RISK ALL STARS OVERVIEW

Topics: Award Applications | Risk All Stars | Risk All Stars Application



What is a Risk All Star?

Risk & Insurance® strives to identify emerging risks and mitigation strategies,
while covering the fascinating people who drive the industry forward. Our goal
is to inform and help our readers succeed in their careers as well as to inspire
and motivate them.

Risk & Insurance® All Stars embody this credo. They stand out from their peers
by overcoming challenges through exceptional problem-solving, creativity,
perseverance and/or passion. By presenting their stories, we strive to recognize
outstanding accomplishments while also providing our readers with ideas,
solutions and motivation to overcome similar challenges.

Who is eligible for the award?

Eligible nominees include any individual with responsibility for managing risk
or claims for their employer. For example:

 * Risk Manager
 * Claims Manager
 * Workers’ Comp Professional
 * COO
 * CFO
 * Owner/CEO/President
 * Any other professional responsible for risk management or claims

Who selects the winners?

Risk All Stars are selected by editors at Risk & Insurance® magazine.

What criteria are used to select winners?

Winning applicants are selected based on the compelling nature of their story
and accomplishments. The central question is, “Does the applicant’s story inform
and/or motivate others?” While a compelling story is most important, winners
also will exhibit success in any of the below:

 * Problem-Solving
 * Creativity
 * Perseverance
 * Passion

Nomination process

Applicants can apply directly or be nominated by a colleague, broker, insurer or
service provider.

Risk & Insurance® editors review all applicants and narrow the pool down to
finalists based on the application. Each finalist is then interviewed by a staff
member. A summary of the interview along with an evaluation form is completed by
the editor performing the interview.

Important Note Regarding Confidentiality: We are very conscious of the sensitive
nature of the information provided. Client references listed on applications and
contacted by judges may choose to be on or off the record. This includes the
client name, company name and additional identifying information. All other
information on the application will be considered on-the-record unless specified
otherwise.

Judging process

Once all interviews are complete, the judging team meets to review the
interviews and evaluations. Winners are selected.

There is no limit on the number of winners. Each Risk & Insurance® All Star is
chosen based on the compelling nature of their story.

Publication

Winners will be announced in the July/August 2023 issue of Risk & Insurance®.
The information will also be featured on the Risk & Insurance® website, and via
eNewsletter, magazine digital edition and app. A profile highlighting each Risk
All Star’s story along with a head-shot is presented by industry category.

Award Boxes

A few weeks after the winners are announced, each Risk & Insurance® All Star
receives a copy of the print issue, an award and additional promotional items.

Download the 2022 Logo Usage Agreement and PR Statement.

2023 Application Deadline: June 2, 2023

Winner Announcement Date: July/August (7/17/23) Issue








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SPONSORED CONTENT BY SOMPO



WHY MEETING YOUR CLIENTS AND BROKERS WHERE THEY ARE WILL PAVE A PATH TOWARD
SUCCESS

Clients, brokers, and other constituents are constantly on the lookout for a
carrier partner that will not only meet their needs, but also display an
understanding of who they are and where they come from.
By: Sompo International | April 28, 2023

Risk and insurance is ever changing and ever growing. It has to be in order to
keep up with shifts in the market.

Increased catastrophic events are tightening property lines, with many carriers
offering lower limits, higher retentions, and price hikes. On the opposite end,
in financial lines, there’s more capital investment and a rise in new entrants
looking to make waves.

“There’s more capacity flooding into financial lines like D&O and professional
liability, which is a real contrast to the firmness we’re seeing in CAT
property,” said Ron Willett, EVP, Field Management, North America Retail, Sompo
International.

“The benefit of the diversified specialty portfolio we have built at Sompo
International is that we are not overly reliant on a single line of business to
deliver the returns we need from the business. For example, where the
ever-changing landscape of cyber continues to be a challenge for all parties
(clients, brokers, and carriers), there are areas within our casualty portfolio
where we are seeing more aggressive competition.”

With so many areas seeing change, clients and brokers are seeking stability
through their insurance partners. Stability and consistency are two hallmarks of
Sompo International’s operating model.

“Meeting clients and brokers where we “intersect” has become the mantra here in
Business Development. From a client perspective, it’s important to note that our
core value proposition is that we continue to maintain our creativity and
solution-oriented approach no matter the line of business. We are not class
underwriters and we look at the individual risk on its own merit with the
holistic view of the account as our guiding star,” said Willett.

Here’s a closer look at what that means for Sompo International and how this
approach to business is paving the path forward for client and broker success.


LOCATION, LOCATION, AND CULTURE INTEGRATION

Ron Willett, EVP, Field Management, North America Retail, Sompo International

Location is everything in business, and there is no better way to understand a
client or broker than to be operating in the region, states and cities that they
are in.

For Sompo International, geographic expansion into markets where clients and
brokers operate is key to the company’s strategy and top of mind for the North
America Insurance team. With several regional office openings planned across the
U.S. and in Canada, Willett believes that to build strong, enduring partnerships
you need to have a deep understanding of your partners’ business goals and the
environment in which they operate.

As Willett explained, “At any given time, we are analyzing cities across the
country where we see material economic growth and compare that to the markets we
are in. We talk with our business unit leaders, we look at demographic studies,
the talent pool and the industries that may be concentrated in those
geographies. From there, we try to triangulate all those different inputs to see
if it’s a good place for us to plant a flag.”

The benefit of this approach really comes in understanding the client and their
locale. It’s one thing to operate in a large city, servicing clients and brokers
nationwide. It’s another to be rooted in the same place as those clients and
brokers, understanding not just the nuances of their insurance needs but also
the lifeblood of the city that they’re in.

But location is just part of the equation.

Having boots-on-the-ground enables insurers to better understand and more
closely align with our clients and brokers culturally and operationally, at a
deeper level.

Once the carrier is entrenched both geographically and operationally, to truly
integrate into a region, they must look internally to make sure they are meeting
the mark when it comes to matching the talent required to service the clients
and brokers in that locale.


A DRIVE FOR THE BEST TALENT

Sompo International is currently working to expand its geographic reach, using a
strategically crafted expansion plan. In addition, the team is putting forward a
concerted effort to staff those new locations with the right people.

A lot goes into making sure talent is up to par: “We want the people who share
the same core values as the company; that’s the goal,” Willett said.

As he further explained, Sompo International takes pride in its company culture.
It’s a collaborative environment where everyone works toward the betterment of
their fellow colleagues. That is a prime value that the team takes to each and
every location the company expands into. As an extension, that value drives the
importance of intersecting with clients where they are – both physically and
metaphorically speaking.

“If you’re going to perpetuate and build upon this strong culture of
collaboration, you’re going to look for people who are wired the same way,
somebody who wants to also work as a team, somebody who can see the promising
future that exists here with this company that’s growing,” Willett said.

“Expanding our reach into new offices won’t mean anything unless we have good
people in them – it won’t mean anything unless our talent can match and deliver
on what our clients and brokers need.”

After all, insurance is a relationship business, and client relations is a key
part of any successful partnership. To respond to that dynamic, the team has
developed a client executive role to liaise with clients and drill down and
discover what they really need, and to provide that level of service.

“Finding the right fit for a client executive role starts with their
personality, their ability to present, their ability to ask and answer
challenging questions, and their ability to work collaboratively with colleagues
to structure solutions to the client’s problems or challenges,” said Willett.

This role is vital to clients and brokers because it establishes the
relationship from the first interaction on.


WHERE A MULTINATIONAL REACH COMES INTO PLAY

The market is changing, for the U.S. and for the world at large. From both
growth areas and certain lines firming up, clients and brokers must find the
right team to back them up through any shift.

Sompo International is staffed with insurance and reinsurance experts and has a
talented pool of claims and risk control specialists, all of whom provide
perspective and insight on a wide range of topics affecting the industry.

One area that Sompo International strives to distinguish itself as a carrier is
its multinational capabilities.

“We can service clients in over 150 countries. In our global economy, many
clients have requirements, country by country, to have locally admitted
policies. The investment we have made to ensure our ability to deliver our value
proposition with consistency across the globe, is a significant differentiator
for us,” Willett explained.

Having that multinational reach and knowledge enables Sompo International to
take this idea of meeting clients and brokers where they are to the next level.

Willett added, “Multinational is an area where few carriers are able to deliver
excellence, however, it’s in our organizational DNA. It differentiates us and
creates a distinct competitive advantage rooted in our overall global expertise
as well as the understanding of how to successfully execute in the local
marketplaces of our global economy.”

To learn more about Sompo International, visit: https://www.sompo-intl.com.






This article was produced by the R&I Brand Studio, a unit of the advertising
department of Risk & Insurance, in collaboration with Sompo International. The
editorial staff of Risk & Insurance had no role in its preparation.

Sompo International is a leading global provider of commercial and consumer
property and casualty (re)insurance. For more information, follow us on LinkedIn
or please visit www.sompo-intl.com.







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