Sompo creates team to sell insurance to tech companies

Sompo International Holdings has formed a new team offering products to clients in the technology industry through its network of retail brokers.

The new unit builds on Sompo’s experience of offering insurance products to that sector through its property, casualty, financial lines and specialty business units.

The new unit is part of Sompo global risk solutions (GRS) and offers primary casualty products, including general liability, commercial auto and worker’s compensation, as well as an integrated property and primary casualty and a lead umbrella product.

The Sompo GRS technology team is led by Michael Carroll, who recently joined Sompo GRS as a senior vice president and who will also continue the development of the Sompo GRS life sciences business. The unit  targets large, middle market, and small technology organisations, including electronic manufacturers, IT service providers and integrators, software providers, technology hardware and storage companies, on-demand mobility electronics firms and government IT contractors.

Michael Chang, CEO of Sompo GRS, said the new business “makes it easier for clients in this space to access our market-leading capabilities across all lines of business on either a stand-alone or integrated basis.”

Christopher Sparro, CEO for US insurance at Sompo International, added: “This is a great example of the power of Sompo International’s integrated platform to anticipate and address the rapidly changing needs of our clients.”