Insurance Claims & Loss Prevention Analyst

Job Category

Job Profile

Job Title

Department

Compensation Range

The Compensation Range is the span between the minimum and maximum base salary for a position. The midpoint of the range is approximately halfway between the minimum and the maximum and represents an employee that possesses full job knowledge, qualifications and experience for the position. In the normal course, employees will be hired, transferred or promoted between the minimum and midpoint of the salary range for a job.

Posting End Date

Note: Applications will be accepted until 11:59 PM on the Posting End Date.

Job End Date

**Please note we are hiring for 2 vacancies

At UBC, we believe that attracting and sustaining a diverse workforce is key to the successful pursuit of excellence in research, innovation, and learning for all faculty, staff and students. Our commitment to employment equity helps achieve inclusion and fairness, brings rich diversity to UBC as a workplace, and creates the necessary conditions for a rewarding career.

Job Description Summary

As a centralized role for all business activities and campus locations of the university including all related entities of UBC global operations, this is a multi-faceted position whose primary responsibility is to oversee, manage, adjudicate and assign adjusters for insurance claims under the institution's property and casualty insurance program and self-insured central insurance fund.

In addition, the role will provide loss prevention advice to the university community, insurer loss control site inspections as well as management of specific lines of insurance including UBC;s fleet policy (over 600 units), accident insurance and rental vehicle insurance.

Organizational Status

This position reports to the Director, Insurance and Loss Prevention.

Work Performed

Claims Management

o Responsible for end to end claim insurance management, including related administration, to ensure prompt response and engagement with departments, adjusters, brokers and insurers, and provides oversight and liaises with external partners including restoration contractors, forensics as well as cost consultants as necessary.

o Leading and maintaining quality claim management structure and systems that includes streamlined processes and quality data management for institutional reporting. Manages financial claim reserves for tracking and forecast of potential payouts of ongoing claims to ensure correct reserves are in place to support critical financial forecasting as part of central budget planning.

o Lead and deliver adhoc or scheduled claim reports to support institutional oversight for executive leadership and key departments to provide performance indicators that are essential for monitoring the effectiveness of claims handling and associated costs, as well as trend analysis for claim frequency, severity and cause of loss that predicts and informs on future claim costs and inform underwriting and risk mitigation strategies.

o Reconcile external loss runs to UBC claims data on a monthly basis and/or as directed by the Director Insurance and Loss Prevention to ensure UBC data is accurate and updated in a timely manner.

o engagement and is the liaison between multiple UBC departments such as legal, finance, HR, operations, external counsel, adjusters and insurers for complex claim matters to streamline decision making, support litigation proceedings, avoid undue delays, costs and/or denial of a claim.

o Provide oversight and monitoring of external adjusters and other venders engaged as part of a claim under the self-insured reserve or assigned insurers to ensure there is appropriate engagement with the UBC community, timely and fair claims resolution and effective management of costs to the University.

o Lead the adjustment and examination of claims as assigned by the Director of Insurance and Loss Prevention where an external adjuster is assigned by an insurer or assigned for larger or more complex claim scenarios within UBC's the self-insurance reserve.

o Monitor and facilitate the claims recovery and internal reimbursement process that aligns to UBC finance requirements - EIB processing.

Insurance

Institutional insurance placements include working with and negotiation of large policy premiums with nationally qualified insurance brokers and/or direct writing including but not limited to provincial self-insurance indemnity programs, local, admitted, large scale reinsurance programs and/or provincial providers including ICBC. Key responsibilities for this role include the identification, assessment of risk primarily for UBC's automobile insurance (fleet policies) as well as non-owned automobile (rental vehicles and accident insurance coverage that extends across all university operations.

o Lead and facilitate the placement of all automobile fleet insurance for all new and renewals vehicles including other transactional changes related to fleet insurance including but not limited to transfer of ownership, vehicle cancellation and distribution of pink cards.

o Lead and facilitate other insurance placements including other supplemental automobile coverages including non-owned automobile and accident insurance.

o Lead and prepare quality submission documentation as required which represents UBC's best-in-class reputation and risk management and loss prevention culture and operational activities.

o Lead the insurance process, negotiate for preferred coverage terms and pricing with A or better rated insurance providers (counter party credit risk) and provide recommended terms for the Director of Insurance and Loss Prevention review and approval for placement. Lead and bind placement of insurance on approval of the UBC risk owner and/or leadership ensuring key terms and conditions are referenced on all supporting documentation that must be retained in the electronic drive.

Insurance Contracts & Other Operational Agreements

This role will be required to review and analyze insurance contracts to ensure the policy type, term and conditions align to meet UBC requirements.

As a subject matter expert, provides risk and insurance recommendations to other institutional departments including procurement, legal, treasury as well as faculty departments for other operational contracts to identify potential uninsured risks, potential liability to the university, or non-preferred language that is misaligned to university appetite or policies of insurance. This work is also required as part of certificate of insurance issuance.

Records, Finance and Accounting

This role is responsible for ensuring that all records are maintained, stored and retained at all times in keeping with industry standard practices, ensuring historical background and supporting legal hold requirements and potential litigation.

Accounting transactions for premiums and/or other operational costs are immediately recorded as part of each and every transaction to ensure that Insurance & Loss Prevention records are at all times accurate to support adhoc reporting. This includes;

o entry of all accounting transactions in master spreadsheets or insurance systems to ensure all financial records are maintained and accurate at all times.

o produces adhoc and/or fiscal summary reports for budgeting and forecasting purposes and to support annual reporting to the Director of Insurance and Loss Prevention, Executive Director of Safety and Risk Services and when requested UBC's Executive Committee and/or Audit & Risk Committee.

o Leads the mid-term and annual premium assessment and financial recovery process from internal and external UBC entities that are for standalone premiums and or as part of an institutional program as directed by the Director Insurance and Loss Prevention.

Loss Prevention

Insurance and loss prevention activities are essential components of a comprehensive risk management strategy.

o Lead and conduct policy type focused risk assessments to identify gaps in coverage or opportunities to reduce premiums through risk mitigation or bundling policies.

o Develop and or support information gathering to support insurance integration and embedment in operations to ensure alignment with insurance policy requirements avoiding claim denial and potential delay or disruption in the event of a disaster, accident or system failure.

o Lead and facilitate the periodic and/or annual insurance loss control inspection(s) of UBC facilities and lead response to insurer recommendations.

Consequence of Error/Judgement

This position works in areas of a complex operational nature with a significant budget impact. Reliability and accuracy are crucial, given the degree of contact with the University community and external professionals. Inappropriate analyses and subsequent decisions could negatively affect the University s financial assets, as well as impact the department and individuals involved.

Supervision Received

Work is performed independently within established program criteria and other guidelines. Work is subjected to periodic review and consultation by the Director Insurance and Loss Prevention to determine that the quality and quantity of work performed meets established program objectives. The position will keep the Director informed on on-going activities and will consult with the Director on major problem areas or deviations from established program objectives.

Supervision Given

Provides assignments and direction to clerical support staff if available.

Minimum Qualifications
Undergraduate degree in a relevant discipline. Completion of the CPA accounting program (CA, CGA or CMA). Minimum of seven years of related experience, or the equivalent combination of education and experience.

- Willingness to respect diverse perspectives, including perspectives in conflict with one's own

- Demonstrates a commitment to enhancing one's own awareness, knowledge, and skills related to equity, diversity, and inclusion

- Strong knowledge in claims management and insurance best practices

- Attention to detail and accuracy is a must for this role

- Strong customer service, relationship building and communication skills required to engage, collaborate and deliver information to the UBC community in a non-technical format

Preferred Qualifications

- Knowledge of post-secondary environment including claims management, insurance policies and procedures.
- Ability to work independently and exercise a high degree of judgment.
- Knowledge of MS Office applications.
- Effective oral and written communication skills.
- Ability to identify problems and develop solutions through the involvement of appropriate stakeholders.
- Able to work under pressure, multi-task and manage priorities appropriately.
- Positive attitude towards learning and development.