2023 Underwriters of the Year | Jimmy Sota, Senior Underwriter, Personal Risk Services, Chubb

With two decades of diverse underwriting experience, Jimmy Sota takes pride in collaborating with brokers on creative solutions and excellent service delivery that benefit insurance customers. A chemical engineering graduate from the University of Toronto, Sota began his insurance career with a part-time insurance job that turned into a full-time passion. Prior to joining Chubb in 2004, Sota, who is fluent in four languages, worked as a bilingual insurance agent at Zurich and Aviva. He is quick to say his noteworthy achievements are far outweighed by his proudest accomplishment: being a husband and father of three brilliant girls. 

“I’m deeply honoured. This award stands as a testament to the dedication I’ve poured into my work and the privilege of being a part of the industry’s finest team,” says Sota of the recognition by HUNTERS International Insurance, the Canadian Broker Network member that nominated him for the award. 

Q: What is the biggest challenge for underwriters? 

“Navigating a hard market cycle poses challenges for all parties involved, particularly underwriters. The most significant hurdle lies in striking the right balance between implementing rate increases and ensuring client retention. As an underwriter, it becomes imperative to cultivate constructive relationships with brokers and all essential stakeholders to uphold this equilibrium. While broker relationships demand diligence and unwavering commitment, the efforts invested ultimately yield dividends in the form of increased business opportunities and robust client retention rates.”  

Q: What is one opportunity underwriters should focus more on? “We face numerous challenges in today’s marketplace, including increased claims frequency and severity. High-value clients increasingly turn to brokers to seek solutions, while brokers, in turn, depend on underwriters to drive business and provide competitive terms. Underwriters should embrace a profound sense of responsibility and ownership in the management of their portfolios. This approach is instrumental in helping them navigate the complexities of the current challenging market cycle, ensuring the sustainability and growth of their endeavours.”  

Q: “What makes for a great broker-underwriter relationship? 

“The cornerstone of success for an underwriter lies in cultivating strong working relationships with brokers. Brokers serve as your business partners, and in the world of business, personal affinity often guides decisions. People naturally prefer to engage with individuals who value and appreciate them. These relationships are invaluable when resolving challenging situations.”  

Q: What do you love most about your role? 

“What truly resonates with me is the dynamic interaction with diverse stakeholders, the opportunity for creativity, and the privilege of crafting solutions for our clients. Personal lines insurance, unlike other forms, has a universal appeal, as it touches the lives of everyone. This inherent relatability adds an extra layer of intrigue to the work. I firmly believe when you genuinely enjoy what you do, excellence becomes second nature.”