Position Overview:The AVP, Claims Vendor Management is responsible for overseeing the strategic relationships with third-party service providers in support of the end-to-end lifecycle of commercial property and casualty claims. This role is accountable for optimizing vendor costs, ensuring compliance with service level agreements (SLAs), and enhancing claims processing efficiency. The AVP serves as the primary liaison between external vendors and internal claims stakeholders, providing direction on vendor selection, performance, and issue resolution.
Key Responsibilities:- Vendor Strategy & Sourcing:
- Will align closely with Starr Procurement in the development and execution of Requests for Proposals (RFPs), contract negotiations, vetting, and the onboarding of new claims vendors to secure optimal pricing and contract terms.
- Identify and implement vendor sourcing strategies that align with business objectives and risk appetite.
- Establish, monitor, and report on vendor scorecards and Key Performance Indicators (KPIs) to ensure service quality, compliance, and value delivery.
- Conduct regular performance reviews and develop action plans for continuous improvement.
- Oversee third-party vendor compliance with regulatory requirements, internal claims handling standards, and data security protocols.
- Coordinate and participate in periodic vendor audits and due diligence activities.
- Investigate and resolve escalated vendor-related issues, service deficiencies, and billing disputes in a timely and effective manner.
- Collaborate with internal stakeholders to facilitate prompt and satisfactory issue resolution.
Qualifications & Requirements:- Bachelor's degree in Business Administration, Supply Chain Management, Insurance, or a related field required.
- Minimum of 5-7 years of progressive experience in vendor management, procurement, or claims operations within the insurance industry.
- Demonstrated expertise in contract negotiation, data analysis, and cross-functional team collaboration.
- Strong problem-solving, communication, and relationship management skills.
- In-depth understanding of the property and casualty insurance landscape, commercial claims lifecycle, and vendor panel management best practices.
- Familiarity with regulatory requirements relevant to claims administration and vendor oversight.
For individuals hired to work in New York, Starr Insurance Companies is required by law to include a reasonable compensation range for this role. The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skills sets: experience and training, licensure and certifications; and other business and organizational needs. A reasonable estimate of the current range is $150,000 - $165,000
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