Who we are
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Get to know the business
General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.
Reporting directly to the Global Head of Claims Vendor Services, the Claims Sourcing Manager will be responsible for leading the development of Claims vendor panels, contracting with large (high value) claims vendors, ensuring due diligence documentation is collected and stored correctly. The role will lead discussions with Claims leadership to develop vendor panel strategies and cost saving initiatives. In addition, the role will manage and guide Claims sourcing analysts to ensure their projects are completed accurately.
About the role
What you need to know:
- Lead end to end acquisition of larger vendors with an annual spend of more than $500K for insurance Claims processing and adjudication commodities. This shall include:
- Negotiate commercial contracts from AIG’s vendor contract template with Claims vendors to be a preferred AIG panel vendor
- Lead vendor pricing negotiations
- Document and summarize the agreed commercial terms accurately
- Oversee the collection and storage of all required due diligence documentation in line with the team’s standard operating process.
- Lead discussions with Claim leadership to develop Claims vendor strategies for the establishment of vendor panels and the reduction total claim costs (Loss Adjusted Expense (LAE) reductions as well as Indemnity based savings).
- Perform complex cost benefit and financial analysis and identifies and supports quality improvement initiatives.
- Establish and maintain strong relationships with key business units and their leaders to understand procurement requirements and pipeline of procurement related work.
- Manage and guide Claims Sourcing Analysts and Shared Services to support teams in their respective projects/tasks to ensure best practice and standard operating procedures are followed.
- Demonstrate project management skills for driving forward vendor sourcing initiatives, pulling together clear project outlines and updates.
- Collaborate with the Legal department and other support groups to ensure completion of acceptable contracts.
- Promote use of preferred vendors to promote greater standardization, improved compliance, risk mitigation and leverage of purchasing power to increase cost savings.
- Communicate marketplace intelligence relative to vendor capabilities, market pricing, conditions and trends, innovations, to help guide AIG claims teams to optimal use of vendors.
- Perform other ad hoc assignments to enable AIG to cost-effectively procure Services.
What we’re looking for:
- Bachelor’s degree in Business or related field and/or equivalent combination of experience; insurance or financial services industry preferred.
- Minimum 5 years prior experience working with Claims Vendors.
- Significant experience and expertise with a track record for leading strategic sourcing processes, negotiating and contracting services.
- Experience in developing and analyzing detailed commercial financial propositions.
- Experience working with commercial negotiations and drafting contracts.
- Understanding of procurement-related economic and financial analyses.
- Proactive attitude with problem solving skills, strong logic skills and critical thinking.
- Data-driven with skillsets for reporting and analyzing data metrics.
- Experience building strong, meaningful internal and external relationships.
- Exhibits confidence in self and others; inspires and motivates others to perform well. Excellent team building, and coaching skills.
- Experience in successfully organizing and directing a team of people. Energetic leader with a positive attitude and a go-getter drive.
- Proven ability to effectively communicate data metrics and insight to key stakeholders and executives.
- Advanced in MS Excel, MS Word, PowerPoint, and MS Outlook.
A look at our benefits
At AIG, we have a 100-year legacy of working to make the world a better place. And that begins with our employees. We’re proud to offer a range of employee benefits and resources that help you protect what matters most – your health care, savings, financial protection, and wellbeing. We provide a variety of leaves for personal, health, family, and military needs. For example, the “Giving Back” program allows you to take up to 16 hours a year to volunteer in your community.
We also believe in fostering our employees’ development and offer a range of learning opportunities for employees to hone their professional skills to position themselves for the next steps of their careers. AIG also has a tuition reimbursement program for eligible employees to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.
We are an Equal Opportunity Employer
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to [email protected] . Reasonable accommodations will be determined on a case-by-case basis.
Functional Area:CS - Corporate Services Estimated Travel Percentage (%): Up to 25% Relocation Provided: No AIG Claims, Inc.