Insurance Risk Analyst

Avetta, LLC
Lehi, UT Full Time
POSTED ON 12/20/2023 CLOSED ON 1/28/2024

What are the responsibilities and job description for the Insurance Risk Analyst position at Avetta, LLC?

Avetta's SaaS platform connects the world's leading organizations with qualified suppliers, contractors, and vendors. We bring unmatched visibility to companies through cloud-based technology and human insights. As a result, we foster sustainable growth for businesses and their supply chains. Our SaaS subscription software is used by 85k active customers in over 100 countries.

SUMMARY:

The Insurance Specialist is responsible for consulting with Clients on contractual insurance requirements via review of MSAs/contracts and conveying industry best practices in determining how to best reduce Client exposures. The Insurance Specialist will work in collaboration with the Insurance Verification team to deliver quick, high quality service and exceed Client expectations throughout their insurance process.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  • Effective with interpreting insurance verbiage (i.e., endorsements, policy language, exclusions, etc.) and relaying back to non-insurance professionals in an easy to understand language.
  • Work together with the implementation team to document insurance requirements and advise the Client on risk and compliance strategy.
  • Communicate documented requirements and any changes to the Insurance Verification team.
  • Benchmark current data based on Client industry and size, and effectively communicate recommended updates to Client.
  • Work together with the Products team to define and implement enhancements to the InsureGuard offering.

MINIMUM QUALIFICATIONS:

  • Advanced comprehension of insurance policy language and various state legislature pertaining to insurance laws.
  • Excellent communication and interpersonal skills – both written and orally.
  • Working PC knowledge, including intermediate use of Microsoft Office Suite.
  • Problem analysis and problem-solving.
  • Ability to research additional insurance in less saturated regions or common coverages.
  • Attention to detail and accuracy.
  • Self-motivated with an entrepreneurial spirit.
  • Adaptable to stress tolerance.
  • Ability to learn and apply new information or skills.
  • Flexibility and self-sufficiency with sometimes little to no direction in remote atmosphere.

METRICS THAT MATTER:

  • Insurance implementation turnaround time – from notice of Client rollout to "go-live" date.
  • Insurance review acceptance rates – high compliance.
  • Increase in insurance rollout amongst existing and prospective insurance Clients.
  • Client retention on insurance.

EDUCATION, TRAINING AND EXPERIENCE (if applicable):

  • 2 years' experience working in commercial insurance (claims, underwriting, direct sales) industry or similar.
  • Post secondary diploma/degree
  • Relevant risk management designation(s) or working towards one, such as CPCU, CIP, CRM or similar designation
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