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SalaryOverview:
We are seeking a highly skilled and experienced Insurance Purchaser to manage the procurement of insurance policies for our $1 billion-a-year family of companies across various states. The goal is to leverage the collective buying power of all companies to generate better coverage while generating an overall cost savings. The ideal candidate will possess a deep understanding of insurance products, negotiation skills, and the ability to mitigate risks effectively while ensuring compliance with regulatory requirements.
Responsibilities:
1. Strategic Planning: Develop and implement comprehensive strategies for procuring insurance coverage across all areas of the company’s operations.
2. Insurance Policy Management: Evaluate existing insurance policies and identify gaps in coverage. Procure appropriate insurance policies to mitigate risks associated with property, liability, employee benefits, and other areas as necessary.
3. Vendor Management: Cultivate and maintain relationships with insurance brokers, carriers, and underwriters to ensure competitive pricing and optimal coverage terms.
4. Risk Assessment: Conduct thorough risk assessments to identify potential liabilities and exposures. Collaborate with relevant departments to implement risk management strategies and loss prevention measures.
5. Negotiation: Negotiate insurance premiums, coverage limits, and terms and conditions with insurance providers to secure favorable agreements that align with the company’s risk management objectives.
6. Compliance: Stay abreast of regulatory changes and industry trends to ensure compliance with insurance laws and regulations. Keep accurate records of insurance policies and documentation for audit purposes.
7. Claims Management: Oversee the claims management process, including filing claims, liaising with insurance carriers, and facilitating the resolution of claims in a timely manner.
8. Budgeting and Forecasting: Collaborate with finance and accounting teams to develop insurance budgets, forecasts, and projections. Monitor insurance expenditures and recommend cost-saving measures where appropriate.
9. Communication and Training: Provide guidance and support to internal stakeholders on insurance-related matters. Conduct training sessions to enhance awareness of insurance policies, procedures, and best practices.
Qualifications:
- Bachelor’s degree in business administration, finance, risk management, or a related field. Master’s degree or professional certification (e.g., CPCU, ARM) preferred.
- Minimum of 5 years of experience in insurance procurement, risk management, or related roles, preferably within a large organization.
- In-depth knowledge of various insurance products, including property and casualty, general liability, professional liability, workers’ compensation, and employee benefits.
- Proven track record of successful negotiations and vendor management skills.
- Strong analytical abilities with the ability to assess complex risks and develop effective risk mitigation strategies.
- Excellent communication, interpersonal, and presentation skills.
- Proficiency in insurance software applications and Microsoft Office Suite.
- Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.
Join our team and play a crucial role in safeguarding our company’s assets and ensuring our continued success in the dynamic landscape of insurance procurement.
Job Type: Full-time
Pay: $100,000.00 - $120,000.00 per year
Benefits:
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible schedule
- Flexible spending account
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Professional development assistance
- Tuition reimbursement
- Vision insurance
Schedule:
- 8 hour shift
- Monday to Friday
- Weekends as needed
Work Location: Remote
