Case study
Sompo helps broker navigate global ocean marine program
Sompo’s approach simplifies the multinational placement process for broker and leads to marine cargo program in three countries.
- Industry: Electronics Manufacturing
- Line of business: Marine Cargo
- Premium: > $158K (GWP)
- Countries: US, Mexico, UK
The Challenge
A global electronics manufacturer was looking for Marine insurance in three countries. However, the company’s broker did not specialize in this line of business, which presented several unique challenges during the placement process.
The Solution
Sompo’s Ocean Marine Underwriting and Multinational Client Service teams tailored a master program with local policies to simplify the process for both the broker and client. Their effective communication and collaboration resulted in Sompo securing the client’s multinational Marine program along with additional Property, Casualty, and Financial Lines business from the electronics manufacturer.
The convenience of having an in-house Multinational client coordinator designated to Ocean Marine business made the process of acquiring a local quote in the UK seamless. This case is a great example of Sompo’s Multinational capabilities are helping to make our Ocean Marine team stand out in the market.
Jenna Shea
Underwriter, US Ocean Marine
Global coverage
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Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.