Manager, Risk Analytics
JobberSalary not specified
Senior Commercial Lines Account Executive at Foundation Risk Partners
Teaneck, New Jersey, United States
Not SpecifiedCompensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Insurance, Risk Management ConsultingIndustries
Requirements
- Experience managing insurance and risk management programs for clients in industries like construction, real estate, manufacturing, private equity, and hospitality
- Ability to handle accounts with combined annual property and casualty insurance premiums over $30 Million
- Skills in gathering, summarizing, and presenting renewal exposures for property and casualty insurance
- Proficiency in developing service requirements, interviewing, vetting, and selecting insurance brokers and carriers
- Expertise in designing insurance policy language specifications and preparing renewal submissions
- Competence in reviewing, analyzing insurance proposals, negotiating terms, premiums, and addressing underwriting questions
- Knowledge to recommend suitable insurance programs based on client exposures and risks
- Capability to oversee placement of insurance bids, ensure correct issuance of binders, policies, and endorsements, and request amendments
- Experience managing clients’ internal risk management teams/insurance departments
- Ability to report to CFO on implementation and management of corporate risk control programs
- Skills in counseling senior management on transactional risk exposures using economic models and risk vs. benefit analyses
- Proficiency in overseeing insurance brokers and third-party risk management vendors
- Expertise in setting up and coordinating disaster recovery and business continuity plans
- Ability to review, draft, negotiate insurance provisions in vendor contracts, leases, loans, and other contracts
- Knowledge of ensuring compliance of insurance certificates for vendors and reviewing received certificates
- Experience scheduling and coordinating loss control inspections, property valuations, addressing concerns, and amending valuations
- Skills in setting up and training clients’ claims staff, reviewing claims, reporting to policies and carriers
- Ability to run quarterly claims review meetings, ensure efficient adjustments and appropriate reserves
- Proficiency in creating loss pick and forecasting models using Loss Cost Factors
- Expertise in reviewing loss frequency and severity to establish patterns and reduce future occurrences
- Experience coordinating claims recovery and assisting in loss adjustments for maximum benefit
- Knowledge of setting up and managing captive insurance programs, including underwriting exposures, pricing negotiation, cash management, and financial statement review
- Skills in due diligence for Private Equity clients, including pre-acquisition risk management and insurance reviews
Responsibilities
- Act as account manager for approximately 20 domestic and international clients
- Manage insurance and risk management programs, including placement of traditional and non-traditional insurance
- Gather, summarize, and present renewal exposures prior to renewal of all property and casualty lines
- Develop service requirements for brokers and carriers; interview, vet, and select bidders
- Design insurance policy language specifications and prepare renewal submissions for the marketplace
- Review and analyze proposals, negotiate coverage terms and premiums, address underwriting questions
- Recommend best-suited insurance programs to clients
- Oversee placement of winning bids; ensure correct binders, policies, endorsements, and request amendments if needed
- Manage day-to-day needs of clients’ risk management programs
- Manage clients’ internal risk management teams/insurance departments
- Report to CFO on implementation and management of corporate risk control programs
- Counsel senior management on transactional risk exposures using economic models and risk vs. benefit analyses
- Oversee insurance brokers and third-party vendors to ensure they act in clients’ best interests
- Set up and coordinate disaster recovery and business continuity plans
- Review, draft, negotiate insurance provisions in contracts, and provide opinions on contractual risk transfer
- Ensure compliance of clients’ insurance certificates to vendors and review received certificates
- Schedule and coordinate loss control inspections and property valuations; address concerns and amend with carriers
- Set up and train clients’ claims staff; review incoming claims and report to policies/carriers
- Run quarterly claims review meetings to ensure efficient adjustments and appropriate reserves
- Create loss pick and forecasting models using Loss Cost Factors to anticipate trends
- Review loss frequency and severity by claim type to establish patterns and decrease future occurrences
- Coordinate claims recovery and assist in loss adjustments for maximum benefit and payments
- Set up and manage captive insurance programs; present exposures, negotiate pricing, advise on cash management, review financial statements
- Participate in Due Diligence project teams for Private Equity clients, conducting pre-acquisition risk management and insurance reviews to confirm no problematic issues
Skills
Property and Casualty Insurance
Risk Management
Insurance Renewal
Broker Selection
Insurance Negotiation
Policy Placement
Underwriting Analysis
Insurance Proposals
Client Account Management
Risk Control Programs
Foundation Risk Partners
Insurance brokerage and consulting services
About Foundation Risk Partners
Foundation Risk Partners operates as an insurance brokerage and consulting firm, focusing on providing tailored insurance solutions and expert advice to clients across the United States. The company grows by acquiring other firms and expanding its services organically, ensuring a diverse mix of industry knowledge and specialized services. Their approach combines expertise in various sectors with a commitment to cultural alignment and shared values. Unlike many competitors, Foundation Risk Partners emphasizes a collaborative relationship with clients, aiming to achieve exceptional outcomes and drive success for their partners.
Daytona Beach, FloridaHeadquarters
2017Year Founded
$2MTotal Funding
DEBTCompany Stage
Consulting, Financial ServicesIndustries
201-500Employees
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
401(k) Retirement Plan
401(k) Company Match
Unlimited Paid Time Off
Paid Holidays
Paid Vacation
Risks
Over-reliance on AI could cause disruptions if technical issues arise.
Expansion into new regions may pose compliance and operational challenges.
Leadership changes might lead to strategic shifts affecting company stability.
Differentiation
Foundation Risk Partners leverages AI to enhance risk analysis accuracy and speed.
The company focuses on a strategic mix of industry expertise and cultural fit.
Foundation Risk Partners is rapidly expanding through acquisitions and organic growth.
Upsides
AI solutions have decreased cycle times by up to 90% for certain activities.
Prospect conversion rates have increased by up to 50% due to AI adoption.
Expansion into Baldwin, New York, offers new market opportunities.
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