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Compliance & Risk Services has an outstanding opportunity for an Insurance Administrator, Risk Financing.
Under the general direction of the Director, Risk Financing, the Insurance Administrator independently manages the client inquiries, business processes and daily operations for the University's commercial insurance portfolio of over 50 policies. This position works closely with the University's insurance broker of record and UW clients across all locations. Responsibilities include managing the annual renewal applications and processes, handling mid-year changes, providing UW clients with policy information, maintaining electronic policy files, administering the premium payment and recharge system, and assisting the Director, Risk Financing and the Associate Vice Provost of Compliance & Risk Services with the management of the UW's self-insurance programs.
Administers a complex property, construction, casualty, surety and student health commercial insurance portfolio.
Manages annual renewals:
o Manages calendar of annual renewal dates and initiates planning for each renewal with Director, Risk Financing & Consulting and insurance brokers;
o Gathers data for applications, completes applications for Director approval, transmits to brokers;
o Assists in communicating renewal terms to clients, compiling responses and communicating coverage orders to brokers as directed by the Director, Risk Financing & Consulting;
o Processes renewal invoice and any associated recharges;
o Reviews binders, endorsements and policies for accuracy;
o Documents all stages of renewal process.
Manages mid-year policy changes:
o Processes requests from clients;
o Orders routine coverage additions and deletions from brokers and communicates placement to clients;
o Reviews binders, endorsements and policies for accuracy;
o Responds to audit requests and requests for information.
Manages financial transactions:
o Processes $12M in annual premium payments and any recharges accurately and timely and in compliance with State budgetary and ethics regulations;
o Maintains complete documentation of recharges, including allocation methods, client budget data and recharge transactions;
o Maintains Risk Financing budget premium reconciliation spreadsheet by checking monthly budget transactions against record of premium payments and recharges.
Acts as liaison between campus departments, insurance brokers and insurers:
o Sets up annual renewal meetings and any interim meetings with brokers;
o Coordinates and attends campus visits by insurer representatives;
o Transmits client questions requiring broker input to brokers and transmits response back to client. Ensures accurate and timely responses from brokers;
o Responds to broker and insurance vendor marketing calls as requested.
Provides prompt, professional, knowledgeable and accurate customer service to UW clients:
o Communicates coverage terms and provides written summaries with assistance from the broker of record
o Assists clients with coverage changes;
o Provides assistance with claims filing by routing to brokers or CRS Claim Services as appropriate, or gathering information and transmitting information timely when contacts are not available;
o Assists with proof of coverage by routing to Risk Financing Program Coordinator or brokers for certificates of insurance;
o Provides documentation for financial transactions as requested.
Ensures the accuracy and completeness of the UW's insurance correspondence and policy files;
o Reviews and maintains the organizational structure of a complex file system across multiple media;
o Downloads policies and related correspondence from the broker SharePoint site;
o Reviews all policies for accuracy versus annual renewal orders;
o Maintains electronic insurance correspondence and policy files according program organizational standards;
o Provides hard copy policies and insurance correspondence to the Risk Financing Program Coordinator for filing;
o Ensures through regular reviews that both the electronic and hard copy insurance correspondence and policy files are up to date and accurately maintained according to the UW's record retention schedule.
Creates and maintains efficient and accurate data collection and tracking systems for out of state workers' compensation, foreign travel, personal and real property insurance policies.
Assists the Director, Risk Financing & Consulting with general administration of the UW insurance programs:
o Staffs the International Student Insurance Policy annual renewal committee, co-chaired by the Director, Risk Financing & Consulting;
o Assists with the selection and evaluation of UW's insurance brokers and administrators;
o Suggests insurance coverage changes and improvements to the Director, Risk Financing & Consulting
o Suggests process changes and improvements to all systems and processes;
o Works with Risk Financing Analyst to maintain and update Risk Financing& Consulting website.
Assists with the administration of the University's statutory liability self-insurance program and captive insurance company.
Under the direction of the Assistant Vice Provost, Compliance & Risk Services, prepares the annual reinsurance renewal application. Works as a team with UW brokers, Health Sciences Risk management and other partners to identify and compile data into pre-determined format. Finalizes submissions to brokers for submission to carriers once information is compiled, and submission approved by the Assistant Vice Provost, Compliance & Risk Services;
Maintains the captive insurance company's electronic policy files;
Answers routine inquiries regarding the terms and conditions of the self-insurance program per information on the CRS website. Refers complex coverage questions to the Director, Risk Financing;
Assists the Administrator, C&RS with maintaining the captive insurance company's business files;
Updates the Schedule of Reinsurance Policies' spreadsheet with policy information annually after July 1 renewals;
Produces certificates of self-insurance when the Risk Financing Program Coordinator is not available or as requested by the Director, Risk Financing & Consulting.
Assists with the administration of the self-insured Equipment Insurance Program (EIP).
Answers UW customer questions concerning EIP coordination with other UW property and transit insurance programs;
Answers general questions regarding the coverage, claims, and enrollment process for EIP as needed;
Provides back up to Risk Financing Analyst for monthly billing and customer service via phone and email as needed;
Works with Risk Financing Analyst to maintain and update the Equipment Insurance website.
Performs other duties and special projects as assigned.
Appointment to this position is contingent upon obtaining satisfactory results from a criminal background check.
As a UW employee, you will enjoy generous benefits and work/life programs. For a complete description of our benefits for this position, please visit our website, click here.
The application process for UW positions may include completion of a variety of online assessments to obtain additional information that will be used in the evaluation process. These assessments may include Work Authorization, Criminal Conviction History, Cover Letter and/or others. Any assessments that you need to complete will appear on your screen as soon as you select Apply to this position. Once you begin an assessment, it must be completed at that time; if you do not complete the assessment, you will be prompted to do so the next time you access your My Jobs page. If you select to take it later, it will appear on your "My Jobs" page to take when you are ready. Please note that your application will not be reviewed, and you will not be considered for this position until all required assessments have been completed.