Group Insurance Manager

The Group Insurance Manager is responsible for overseeing all aspects of group insurance programs within the organization.

This role involves managing the administration of various group insurance policies, ensuring compliance with regulatory requirements, negotiating contracts with insurance providers, and providing guidance to employees on insurance-related matters.

The Group Insurance Manager works closely with internal stakeholders, such as HR departments and senior management, as well as external insurance providers to optimize insurance offerings and provide effective coverage to employees.

Responsibilities:

Administration:

- Oversee the administration of group insurance policies, including health, dental, vision, life, and disability insurance.

- Manage enrollment processes, eligibility verification, and changes to coverage.

- Coordinate with insurance carriers and third-party administrators to ensure accurate processing of claims and timely resolution of issues.

Compliance:

- Stay abreast of relevant laws, regulations, and industry standards related to group insurance.

- Ensure compliance with federal, state, and local regulations governing employee benefits and insurance programs.

- Develop and implement policies and procedures to maintain compliance and mitigate risks.

Contract Management:

- Negotiate terms and conditions of group insurance contracts with insurance carriers and brokers.

- Evaluate proposals from insurance providers and recommend appropriate coverage options based on the organization's needs and budget.

- Monitor contract performance and conduct periodic reviews to assess the effectiveness of insurance programs.

Employee Support:

- Serve as the primary point of contact for employees regarding insurance-related inquiries and concerns.

- Provide guidance and assistance to employees regarding benefit options, claims procedures, and coverage details.

- Conduct educational sessions or workshops to help employees understand their insurance benefits and make informed decisions.

Data Analysis:

- Analyze insurance utilization data, claims trends, and other relevant metrics to identify opportunities for cost savings and improvements.

- Collaborate with finance and accounting teams to develop budgets and forecasts related to insurance expenses.

- Prepare reports and presentations for senior management to communicate key findings and recommendations.

Vendor Management:

- Establish and maintain relationships with insurance carriers, brokers, consultants, and other vendors.

- Monitor vendor performance and conduct regular reviews to ensure service quality and compliance with contractual obligations.

- Evaluate potential new vendors and participate in the selection process as needed.

Qualifications:

- Bachelor's degree in business administration, human resources, finance, or a related field.

- Professional certification such as Certified Employee Benefits Specialist (CEBS) or Chartered Life Underwriter (CLU) is preferred.

- Several years of experience in group insurance administration, preferably in a managerial or supervisory role.

- In-depth knowledge of group insurance products, regulations, and industry best practices.

- Strong analytical skills with the ability to interpret complex data and make strategic recommendations.

- Excellent communication and interpersonal skills, with the ability to interact effectively with employees at all levels of the organization.

- Proven negotiation and contract management abilities.

- Proficiency in relevant software applications, such as Microsoft Excel, HRIS systems, and insurance administration platforms.