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Vendor Management In Insurance Jobs in New York (NOW HIRING)

Quest Diagnostics

Manager, Vendor Management

Secaucus, NJ · On-site

$150K - $160K/yr

This role will also be responsible for optimization opportunities and take lead in renegotiating ... Life and disability insurance, plus buy-up option * Flexible Spending Accounts * Annual incentive ...

FIS

Director - IT Vendor Management

New York, NY · Remote

$161K - $273K/yr

Act as a key leader in FIS's digital transformation agenda, evolving vendor management into a strategic partner capability * Own vendor transitions and transformation programs to ensure continuity ...

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Vendor Management In Insurance information

What is vendor management in insurance?

Vendor management in insurance involves overseeing third-party service providers to ensure they meet contractual obligations, quality standards, and compliance requirements. It includes activities such as selecting vendors, negotiating contracts, monitoring performance, and managing risks, often using tools like vendor management systems. Professionals in this field need strong organizational and communication skills to coordinate between insurers and vendors effectively.

What is the difference between Vendor Management In Insurance vs Claims Specialist in Insurance?

AspectVendor Management In InsuranceClaims Specialist in Insurance
CredentialsTypically requires insurance knowledge, vendor management certifications, and industry experienceRequires insurance adjuster licenses, claims handling certifications, and industry knowledge
Work EnvironmentOffice-based, vendor negotiations, contract management, and coordinationField and office-based, claims assessment, customer interaction, and documentation
Employer & Industry UsageInsurance companies, third-party vendors, and brokersInsurance carriers, third-party administrators, and claims departments
Search & Comparison IntentUnderstanding vendor relations and management roles in insuranceClaims processing and customer service roles in insurance

Vendor Management In Insurance focuses on managing relationships with external vendors, negotiating contracts, and ensuring service quality. Claims Specialists handle claims processing, customer interactions, and assessing insurance claims. While both roles are essential in the insurance industry, they differ in responsibilities, required credentials, and daily tasks.

What is the role of vendor management in insurance?

Vendor management in insurance involves overseeing third-party providers to ensure they meet contractual obligations, quality standards, and compliance requirements. It includes activities such as selecting vendors, negotiating contracts, monitoring performance, and managing risks to support efficient insurance operations. Strong vendor management helps insurers reduce costs, improve service delivery, and maintain regulatory compliance.

What skills are needed for vendor management in insurance?

Vendor management in insurance requires strong communication, negotiation, and relationship-building skills to effectively coordinate with external providers. Analytical abilities, knowledge of insurance policies and regulations, and proficiency with vendor management tools or software are also essential for ensuring service quality and compliance.

Is a vendor management in insurance a good job?

Vendor management in insurance is a professional role that involves overseeing relationships with third-party providers, ensuring compliance, and managing contracts. It requires strong negotiation, communication skills, and knowledge of insurance regulations, often involving tools like vendor management systems. The job can offer stability and growth opportunities within the insurance industry.
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Vendor Management In Insurance jobs near you

Vendor Management Specialist

A.M. Best Europe - Rating Services Ltd

Bedminster, NJ • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Re-posted 21 days ago

Job description

Benefits Summary
  • Flexible and hybrid work arrangements
  • Paid time off/Paid company holidays
  • Medical plan options/prescription drug plan
  • Dental plan/vision plan options
  • Flexible spending and health savings accounts
  • 401(k) retirement savings plan with a Roth savings option and company matching contributions
  • Educational assistance program

Overview
The Vendor Management Specialist will support the head of Vendor Management by managing a portfolio of vendors throughout all phases of the vendor life cycle. The position will ensure that assigned vendors are selected, onboarded, monitored, renewed and terminated in accordance with Company policy in order to minimize the Company's exposure to risk.
Responsibilities
  • Manage a portfolio of multiple vendor engagements across all departments, while driving operational efficiencies and providing excellent client services.
  • Build and maintain long-lasting relationships with vendors.
  • Negotiate product pricing and contracts with vendors. Assist with updating, renewing, and canceling vendor contracts.
  • Communicate product-related issues and concerns to vendors.
  • Research new vendors in the market.
  • Facilitate communications between vendors and stakeholders.
  • Track vendor performance and mitigating actions. Compile reports, as needed.
  • Support resolution of vendor activities, inquiries, issues, incidents, service requests, and escalations.
  • Maintain vendor and contract data in the system of record (Venminder) and ensure reports and performance targets are met, reported, and submitted from vendors to be uploaded in the system.
  • Coordinate with Accounts Payable to assure that vendors are fully reviewed before initial payment.
  • Manage the periodic review of vendors and track expiring due diligence, insurance and tax documentation.
  • Assist in reviewing, updating and enhancing vendor management procedures.
  • Keep abreast of US and EU regulatory requirements.
  • Perform other related duties as assigned.

Qualifications
  • Bachelor's degree in relevant curriculum, legal, compliance, finance, or risk management preferred
  • Three plus years in Procurement and Vendor Management or related field
  • Experience in vendor management or procurement preferred. Certification in third party risk management preferred (CTPRP, CRVPM)
  • Proficiency in MS Office, especially Excel
  • Experience with Vendminder vendor management software preferred

Skills
• Experience effectively engaging with leadership and influencing internal stakeholders
• Ability to work in a constantly changing environment and manage priorities according to changing strategic objectives
• Ability to multitask and work well as part of a global team
• Excellent problem-solving skills, communication and interpersonal skills
• Excellent presentation skills
• Strong analytical and negotiation skills
• Strong interpersonal skills
• Ability to offer improved customer service

Apply