Insurance Manager at Subaru of America in Camden, NJ
Summary Responsible for all aspects of the following Subaru of America (SOA) insurance programs:
Cyber, Product Liability, Executive Risk (Director and Officer D&O /Employment Practices Liability EPL ), Fiduciary Liability, Commercial Crime, Travel Accident, Bonds, Travel Assistance program, Officer and Employee Umbrella programs and is also responsible for the oversight of Supply Chain risk including evaluation of insurance solutions and design and implementation of loss control measures. Responsible for the development and strategy of the Affinity and Employee Insurance programs with Liberty Mutual Insurance company and the development of Subaru's strategy for utilizing telematics data to develop new insurance products including usage-based insurance, First Notice of Loss (FNOL) notifications, stolen vehicle tracking and other in-vehicle notifications with Liberty Mutual and other insurance companies. In addition, responsible for the management of Subaru's Gap insurance product including the marketing to retailers, coverage design and resolution of claims and IT issues. Primary Responsibilities Must be able to perform all of these:
Leads design/marketing and strategy for SOA's Executive Risk Program (including Director and Officers Liability/Employment Liability, Fiduciary Liability, Commercial Crime and Cyber Liability), Product Liability, Travel Accident, Bonds, Travel Assistance program, Officer and Employee Umbrella programs and serves as the subject matter expert and advises internal teams on potential risks/claims relative to the above-mentioned insurance programs. Negotiates and renews all insurance policies with broker and prepares underwriting submissions for same. Determines marketing/coverage priorities, premium goals, retention levels, aggregates, and limits of insurance. Presents insurance selection to Director Risk Management and Chief Financial Officer (CFO). Manages the Subaru Advantage Insurance (SAI) program with affinity insurance partner and creates ways to improve results and develop new initiatives and benefits for Subaru customers, including offerings through digital retailing and Dealer Management System (DMS) integration. Develops vehicle-specific programs/discounts enabling lower cost of ownership for Subaru customers. Interacts with Marketing and IT on behalf of SAI for better communication and knowledge gathering. Plans, schedules, and participates on behalf of the SAI program at Subaru national meetings. Develops Subaru's strategy for utilizing telematics data to develop new insurance products including usage-based insurance, First Notice of Loss (FNOL) notifications, stolen vehicle tracking and other in-vehicle notifications. Participates in meetings with insurance carriers, Original Equipment Manufacturers (OEMs) and insurance industry experts to gather intelligence regarding market for same, viability for Subaru customers and potential improvement upon existing SOA products. Collaborates with Product Management/Telematics Team and Legal Department regarding same. Participates in Captive Insurance Company Underwriting Meetings. Assists with development of underwriting and pricing guidelines for captive insurance programs. Works with Director of Risk Management with ad hoc projects involving captive insurance company as needed. Maintains oversight of Supply Chain Risk including the implementation of loss control measures and the purchase of insurance coverage from independent carriers or from Pleiades Insurance Co. Ltd. Collaborates with Subaru Corporation (SBR), SIA or other SBR subsidiaries as needed on this topic. Maintains responsibility for the growth and profitability of Subaru's Gap insurance product which is reinsured through Pleiades including the marketing to retailers, coverage design and resolution of claims and IT issues, changes in state laws, premium and surcharge decisions, and design of incentive programs. Maintains oversight of relationship with Allstate Insurance Company that underwrites policy. Additional Responsibilities Collaborates with colleagues in Risk Management and Sales with implementation of new Finance & Insurance (F&I) products offered to retailers and to Subaru customers, recognizing customer needs and profitability in conjunction with the Insurance Marketing Manager and SOA field. Participates in ad hoc projects which have risk management implications involving HR, Legal, Marketing and Corporate Facilities. Supervises vendor and promotional compliance of insurance requirements re:
insurance compliance, vendor contracts, and promotional vehicles Required Skills and Abilities (what employee must know & do to perform this job - e.g., communicate with all levels of employees in organization, balance multiple priorities, etc.) BA/BS in Risk Management or related business area. MBA or Law Degree preferred. Associate in Risk Management (ARM), Associate in Claims and/or Enterprise Risk Management insurance designation preferred. Strong knowledge of insurance coverage especially Executive Risk required. Experience with Captive Insurance OR Associate in Captive Insurance Designation (ICCIE). Strong project and time management skills. Experience leading cross-functional teams and projects. Licensed insurance industry professional highly preferred; if candidate does not have licensure, must have desire to obtain one and will be expected to receive this licensure while employed at SOA. Strategic thinker with ability to see the big picture and understand risks and opportunities. Ability to work with minimal supervision, exercise good judgment, solve problems, think critically, multi-task, and prioritize work in a changeable environment. Strong negotiation and management skills. Strong written and verbal communication skills including presentation skills. Advanced computer and data analysis skills. Proficient in Microsoft Office Suite products. Previous roles in risk management, insurance company and/or brokerage preferred. Work Environment 10% travel required Educational Requirements 4 Year College Degree (BA, BS) Experience Requirements 8 - 10 Years
Salary Range:
$100K -- $150K
Minimum Qualification
Banking, Loans & InsuranceEstimated Salary: $20 to $28 per hour based on qualifications.
Cyber, Product Liability, Executive Risk (Director and Officer D&O /Employment Practices Liability EPL ), Fiduciary Liability, Commercial Crime, Travel Accident, Bonds, Travel Assistance program, Officer and Employee Umbrella programs and is also responsible for the oversight of Supply Chain risk including evaluation of insurance solutions and design and implementation of loss control measures. Responsible for the development and strategy of the Affinity and Employee Insurance programs with Liberty Mutual Insurance company and the development of Subaru's strategy for utilizing telematics data to develop new insurance products including usage-based insurance, First Notice of Loss (FNOL) notifications, stolen vehicle tracking and other in-vehicle notifications with Liberty Mutual and other insurance companies. In addition, responsible for the management of Subaru's Gap insurance product including the marketing to retailers, coverage design and resolution of claims and IT issues. Primary Responsibilities Must be able to perform all of these:
Leads design/marketing and strategy for SOA's Executive Risk Program (including Director and Officers Liability/Employment Liability, Fiduciary Liability, Commercial Crime and Cyber Liability), Product Liability, Travel Accident, Bonds, Travel Assistance program, Officer and Employee Umbrella programs and serves as the subject matter expert and advises internal teams on potential risks/claims relative to the above-mentioned insurance programs. Negotiates and renews all insurance policies with broker and prepares underwriting submissions for same. Determines marketing/coverage priorities, premium goals, retention levels, aggregates, and limits of insurance. Presents insurance selection to Director Risk Management and Chief Financial Officer (CFO). Manages the Subaru Advantage Insurance (SAI) program with affinity insurance partner and creates ways to improve results and develop new initiatives and benefits for Subaru customers, including offerings through digital retailing and Dealer Management System (DMS) integration. Develops vehicle-specific programs/discounts enabling lower cost of ownership for Subaru customers. Interacts with Marketing and IT on behalf of SAI for better communication and knowledge gathering. Plans, schedules, and participates on behalf of the SAI program at Subaru national meetings. Develops Subaru's strategy for utilizing telematics data to develop new insurance products including usage-based insurance, First Notice of Loss (FNOL) notifications, stolen vehicle tracking and other in-vehicle notifications. Participates in meetings with insurance carriers, Original Equipment Manufacturers (OEMs) and insurance industry experts to gather intelligence regarding market for same, viability for Subaru customers and potential improvement upon existing SOA products. Collaborates with Product Management/Telematics Team and Legal Department regarding same. Participates in Captive Insurance Company Underwriting Meetings. Assists with development of underwriting and pricing guidelines for captive insurance programs. Works with Director of Risk Management with ad hoc projects involving captive insurance company as needed. Maintains oversight of Supply Chain Risk including the implementation of loss control measures and the purchase of insurance coverage from independent carriers or from Pleiades Insurance Co. Ltd. Collaborates with Subaru Corporation (SBR), SIA or other SBR subsidiaries as needed on this topic. Maintains responsibility for the growth and profitability of Subaru's Gap insurance product which is reinsured through Pleiades including the marketing to retailers, coverage design and resolution of claims and IT issues, changes in state laws, premium and surcharge decisions, and design of incentive programs. Maintains oversight of relationship with Allstate Insurance Company that underwrites policy. Additional Responsibilities Collaborates with colleagues in Risk Management and Sales with implementation of new Finance & Insurance (F&I) products offered to retailers and to Subaru customers, recognizing customer needs and profitability in conjunction with the Insurance Marketing Manager and SOA field. Participates in ad hoc projects which have risk management implications involving HR, Legal, Marketing and Corporate Facilities. Supervises vendor and promotional compliance of insurance requirements re:
insurance compliance, vendor contracts, and promotional vehicles Required Skills and Abilities (what employee must know & do to perform this job - e.g., communicate with all levels of employees in organization, balance multiple priorities, etc.) BA/BS in Risk Management or related business area. MBA or Law Degree preferred. Associate in Risk Management (ARM), Associate in Claims and/or Enterprise Risk Management insurance designation preferred. Strong knowledge of insurance coverage especially Executive Risk required. Experience with Captive Insurance OR Associate in Captive Insurance Designation (ICCIE). Strong project and time management skills. Experience leading cross-functional teams and projects. Licensed insurance industry professional highly preferred; if candidate does not have licensure, must have desire to obtain one and will be expected to receive this licensure while employed at SOA. Strategic thinker with ability to see the big picture and understand risks and opportunities. Ability to work with minimal supervision, exercise good judgment, solve problems, think critically, multi-task, and prioritize work in a changeable environment. Strong negotiation and management skills. Strong written and verbal communication skills including presentation skills. Advanced computer and data analysis skills. Proficient in Microsoft Office Suite products. Previous roles in risk management, insurance company and/or brokerage preferred. Work Environment 10% travel required Educational Requirements 4 Year College Degree (BA, BS) Experience Requirements 8 - 10 Years
Salary Range:
$100K -- $150K
Minimum Qualification
Banking, Loans & InsuranceEstimated Salary: $20 to $28 per hour based on qualifications.
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