The VP of Insurance Coverage is responsible for planning and directing the design, development, and implementation of an insurance program that manages risk and minimizes costs. Provides leadership, innovation, and oversight over an organization's overall insurance program. Being a VP of Insurance Coverage defines and prioritizes team needs and leads the overall insurance strategy. Develops strategic objectives and policies to ensure effective insurance coverage for the organization. In addition, VP of Insurance Coverage approves policy renewals and applications. Requires a bachelor's degree. Typically reports to top management. The VP of Insurance Coverage manages a departmental function within a broader corporate function. Develops major goals to support broad functional objectives. Approves policies developed within various sub-functions and departments. Working as a VP of Insurance Coverage typically requires 8+ years of managerial experience. Comprehensive knowledge of the overall departmental function.
The Insurance Coverage Director defines strategic objectives and policies to ensure effective insurance coverage for the organization. Directs the development and optimization of an organization's overall insurance program to manage and minimize risk and costs. Being an Insurance Coverage Director develops the appropriate mix of insurance coverage for the organization and negotiates policy pricing and terms with vendors. Creates and designs processes that identify risk exposure and classify, measure, and manage insurable risks. In addition, Insurance Coverage Director reviews and approves policy renewals and applications. Requires a bachelor's degree. Typically reports to senior management. The Insurance Coverage Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Working as an Insurance Coverage Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function.
The Insurance Coverage Manager collects, classifies, and analyzes data from multiple sources such as audits, claims, renewals, and financial reporting. Manages the analysis of insurance needs of an organization to provide optimum coverage, costs, and claim settlements. Being an Insurance Coverage Manager conducts regular policy reviews and research. Identifies and classifies risk exposures to provide optimum coverage, costs, and claim settlements. In addition, Insurance Coverage Manager implements processes that identify risk exposure and classify, measure, and manage insurable risks. Compiles loss trends and reviews actuarial estimations to make recommendations. Administers systems to collect data and generate meaningful models and reporting to support decisions. Prepares policy renewals and applications. May administer self-insured plans. Requires a bachelor's degree. Typically reports to a director. The Insurance Coverage Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Working as an Insurance Coverage Manager typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
The Insurance Coverage Supervisor collects, classifies, and analyzes data from multiple sources such as audits, claims, renewals, and financial reporting. Supervises the analysis of insurance needs of an organization to provide optimum coverage, costs, and claim settlements. Being an Insurance Coverage Supervisor conducts regular policy reviews and research. Identifies and classifies risk exposures to provide optimum coverage, costs, and claim settlements. In addition, Insurance Coverage Supervisor compiles loss trends and reviews actuarial estimations to make recommendations. Administers systems to collect data and generate meaningful models and reporting to support decisions. Assists with policy renewals and applications. May assist with administering self-insured plans. Requires a bachelor's degree. Typically reports to a manager. The Insurance Coverage Supervisor supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. Working as an Insurance Coverage Supervisor typically requires 3-5 years experience in the related area as an individual contributor. Thorough knowledge of functional area and department processes.
The Insurance Coverage Analyst II collects, classifies, and analyzes data from multiple sources such as audits, claims, renewals, and financial reporting. Analyzes the insurance needs of an organization to provide optimum coverage, costs, and claim settlements. Being an Insurance Coverage Analyst II evaluates insurance proposals and makes recommendations. Creates risk forecasting models and reporting using business intelligence tools. In addition, Insurance Coverage Analyst II negotiates insurance premiums and coverage terms directly with insurance companies and/or through brokers. Collaborates with cross-functional teams to ensure reporting and processing of all policy audits, payments, claims, and renewals. Supports loss prevention and safety initiatives. Reviews insurance policies for accuracy and works with brokers and underwriters to resolve discrepancies. Requires a bachelor's degree. Typically reports to a manager. Being an Insurance Coverage Analyst II occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Working as an Insurance Coverage Analyst II typically requires 2-4 years of related experience.