Director, Insurance Management

Employer
AARP
Location
Washington, DC
Posted
Aug 02, 2021
Closes
Aug 13, 2021
Ref
12461324
Industry
Insurance
Hours
Full Time
Business Unit Description

AARP is a nonprofit, nonpartisan organization, with a membership of nearly 38 million that helps people turn their goals and dreams into 'Real Possibilities' by changing the way America defines aging. With staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, AARP works to strengthen communities and promote the issues that matter most to families such as healthcare security, financial security and personal fulfillment. AARP also advocates for individuals in the marketplace by selecting products and services of high quality and value to carry the AARP name. As a trusted source for news and information, AARP produces the world's largest circulation magazine, AARP The Magazine and AARP Bulletin.
Summary

Directs AARP's comprehensive national insurance management program, comprising 16 lines of coverage and approximately $6.5 million in annual premiums, including captive operations, focusing on identifying and analyzing the potential impact of exposures of loss faced by the organization and designing an insurance program that minimizes the total cost of loss and risk through risk financing, claims management, and risk control programs.
Responsibilities

Primary Responsibilities
  • Manage the strategic planning, coordination, and analysis of underwriting information for the assessment of risks and the annual renewal of insurance policies to insure that risks are properly insured with appropriate coverage and retainage, gaps in coverage are addressed, the renewal process is appropriately bid among several insurers, and the appropriate people are involved in the renewal process (subject matter experts, legal, human resources, property, media, IT, Foundation).
  • Conduct a broad review of insurance applications before submitting to ensure that all known information and disclosures are included in the application and that subject matter experts, who understand the risks, have weighed in on areas that need to be conveyed.
  • Identify and quantify the potential impact of exposures of loss, employing both internal expertise and use of outside consultants; recommending insured versus self-insured retention decisions including what levels of risk to retain and at what point transfer is appropriate.
  • Coordinate the work of risk management consultants, insurance brokers, and others, in order to complete risk management projects on a timely basis.
  • Negotiate terms, conditions, pricing, retentions and service arrangements with insurance suppliers, ensuring policy wording aligns with business needs and required risk coverage. Evaluate the adequacy of limits and appropriateness of retentions/deductibles in the context of the organization's financial profile and other enterprise rises. Utilize industry benchmarking to determine competitive premiums, and appropriate limits and retentions
  • Review policies and endorsements for negotiated changes and corrections.
  • Be the subject matter expert on insurance coverage, including understanding what policies do and do not cover, when they are up for renewal, and what risk gaps may exist that are not covered by insurance.
  • Ensure that daily transactional work is completed through proper coverage within the department, including but not limited to: issuing certificates of insurance; trouble-shooting general risk management problems; claims administration; and the coordination of safety training for the AARP-SCSEP program on an as needed basis.
  • Work with event sponsors to evaluate risks associated with events and mitigate potential risks through modifying events or encouraging that higher risks events not take place.
  • Establish contract standards for insurance and indemnification wording for vendors of various sizes and risk exposures.
  • Be an advocate, and hold our broker accountable for being an advocate, for filing claims with insurers even when there is a concern that the claim may not be covered. Make sure that claims are filed under all possibly appropriate insurance policies. Put insurers on notice of incidents in a timely manner even if a claim may not be filed. Use proper judgement and confidentiality in expressing expectations regarding conclusions/outcomes of coverages with potential claimants in order to ensure proper claims management and mitigate risk to the organization.
  • Manage staff assigned to the office, providing direction in roles and responsibilities, development, training, and performance evaluations.
  • Develop and maintain responsibility for annual insurance budget.

Management of Captive Insurance Company
  • This position provides management of the captive insurance company, with approximately $3.9 million in annual premiums, and requires an understanding of the purpose, benefits, and risks associated with a captive.
  • Responsible for complying with captive rules and regulations and ensuring that the organization adheres to and does not violate captive governance. Keeps abreast of emerging captive related laws and regulations. Ensure that all required reports are correct and filed timely.
  • Provide program management of the captive program including coordinating actuarial reports reflecting the appropriate retainage within the captive and issuing policies that reflect approved premiums to support insurance coverage.
  • Coordinate the annual meeting of the Board of the captive.

Claims Administration
  • Provide expertise in the administration of claims related to workers' compensation, general liability, employment practices, property insurance, and other covered risks across a nationwide operation with affiliates.
  • Develop/oversee claims management program that effectively resolves all insurable claims/litigation made against the organization and its affiliates with timely settlement and closure of claims at optimal cost.
  • Stay on top of administration of claims-have knowledge and maintain documentation of the history and status of claims and track which claims have been closed and which are open.
  • Review and analyze claims and loss runs for trends and identify opportunities to reduce risk exposure and contain costs.

Interactions with others
  • Build, maintain, and manage effective working relationships with internal constituents, third party administrators, brokers, insurance carriers, actuaries, legal counsel, internal program managers, Enterprise Risk Management and Business Continuity departments and other claims related parties.
  • Work with various internal departments and consultants to review business risks, coverage and insurance issues and determine the impact on the organization.
  • Work with Treasury/Accounting on captive funding, letters of credit, budget, audit and other financial matters.
  • Develop relationships throughout the organization and provide clear instructions via web pages so employees know how and when to report incidents.
  • Demonstrates AARP Leadership Behaviors in all interactions.

Ongoing Development
  • Engage in development opportunities that enhance understanding of insurance needs and appropriate risk prevention products and opportunities and incorporate ideas in making strategic and tactical improvements to the insurance program.

Communication, Reporting, and Document Management
  • Create reports that effectively identify and inventory the organization's insurance programs.
  • Maintain a records database of insurance policies and claims information.
  • Ability to communicate effectively, both orally and in writing, with all levels of management, as well as with internal and external stakeholders. Must be experienced in presenting and/or reporting to the Board of Directors and skilled in explaining technical concepts and implications in layman's terms.
  • Develop materials as needed for the AARP Board of Directors and the Board of Directors for the Andrus Insurance Fund LLC.
Requirements
  • Bachelor degree or equivalent of at least 10 years' experience in the insurance/risk management field with at least 4 years leading the insurance and risk management function for a large national organization. MBA desired.
  • Professional designation of Associate in Risk Management (ARM) or other insurance or captive industry designation preferred.
  • Must demonstrate a successful record of accomplishments in the field of insurance/risk management and a consistent record of successful management skills and abilities.
  • Experience should include: insurance management, pre-bid contract analysis, project and enterprise risk assessment and solutions to optimize coverage potentials and maximize financial results, building repeatable and standardized processes and workflows, strategic broker and/or carrier management and relations, and management of a captive insurance program.
  • Strong project and time management skills with the ability to handle multiple tasks, set priorities, meet deadlines, and develop process efficiencies where required.
  • Ability to communicate effectively, both orally and in writing, with all levels of management, as well as with internal and external stakeholders. Must be experienced in presenting and/or reporting to the Board of Directors and skilled in explaining technical concepts and implications in layman's terms.
  • Ability to work both independently and collaboratively on complex assignments. A self-motivated problem solver with strengths in planning, monitoring, organizing resources, and flexibility in meeting changing priorities.
  • Proficiency with the Microsoft Office Suite
Compensation and Benefits

AARP offers competitive benefits with a 401(k); 100% company-funded pension plan; health, dental, and vision plans; life insurance paid time off to include company and individual holidays, vacation, sick, caregiving, and parental leave; performance-based and peer-based recognition; tuition reimbursement; among others. Visit careers.aarp.org/benefits for more information.

As a result of the COVID pandemic, all interviews will be held virtually and all non-essential employees will continue to work remotely until further notice.
Equal Employment Opportunity

AARP is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture. AARP does not discriminate on the basis of race, ethnicity, religion, sex, color, national origin, age, sexual orientation, gender identity or expression, mental or physical disability, genetic information, veteran status, or on any other basis prohibited by applicable law.