Vanderbilt Health - Executive Search Team is conducting a national search for a Senior Property & Casualty Insurance Manager. The Senior Property & Casualty Insurance Manager serves a vital role in the risk financing functions for VUMC, including its majority-owned entities. In summary, the role is responsible for insurance policy application and renewal activities, ongoing self-insurance activities, management and maintenance of all insurance and self-funding documents and communications, and providing consultation and expertise regarding insurance and self-funding issues. The specific duties are outlined below.
The Office of Risk and Insurance Management exists to support the Medical Center's missions of research, education, and the delivery of excellent patient care through a combination of risk financing, risk prevention, and risk control activities. Our goal is to provide excellent, ethical and timely risk management resources and services to our internal and external customers. We reach these goals by:
Treating others professionally and with respect;
Taking responsibility for finding a solution to any problem or complaint for all those seeking our services; and
Continuously evaluating and improving our performance.
Position Shift: 1st shift; Days (Hybrid)
Discover Vanderbilt University Medical Center:
Vanderbilt University Medical Center (VUMC or the Medical Center) is one of the largest academic medical centers in the Southeastern U.S., with over $6.3 billion in annual revenues (FY 2022) and approximately 30,000 employees. VUMC operates as a fully independent, nonprofit health system, following the completion of the transaction in 2016 that separated it legally and financially from Vanderbilt University (the University). This successful transition positioned VUMC for future growth and investment, while preserving its tightly woven connections to the geographically contiguous University in research and teaching.
VUMC is governed by its own 11-member Board of Directors, with direct capital market access that allows the Medical Center to compete effectively in Nashville's dynamic healthcare marketplace. VUMC has led and continues to expand the Vanderbilt Health Affiliated Network, the largest provider-organized network of doctors, regional health systems and other health care providers in Tennessee and surrounding states. VUMC shares Vanderbilt University's respected name and collaborates closely with the University through education and research. Teaching and research collaboration and connections between the University and the Medical Center remain a strategic priority for both institutions and continue in a seamless manner.
VUMC is a comprehensive academic medical center dedicated to patient care, research, and biomedical education. Its reputation for excellence in these areas has made it a major center for patient referrals and for research awards. Each year, people throughout Tennessee and the Southeast choose VUMC for their health care because of its leadership in medical science and dedication to treating patients with dignity and compassion. VUMC is renowned for innovation, work ethic, and the collegiality of its employees. From health care advances to compassionate care, VUMC owes its accomplishments and reputation to staff and faculty who consistently bring skill, drive, and innovation to their work. World-leading academic departments and comprehensive centers of excellence pursue scientific discoveries and transformational educational and clinical advances across the entire spectrum of health and disease.
VUMC is known not only for its highly-acclaimed teaching hospitals, but also for leading innovations in care such as its groundbreaking efforts in developing electronic medical records. Each year, VUMC clinicians provide close to 3 million ambulatory visits, perform more than 72,600 surgical procedures, and see 169,000 patients in its emergency rooms. Vanderbilt biomedical scientists in more than 100 laboratories conduct more than $600 million of federal, foundation, and corporately sponsored research each year.
VUMC is comprised of Vanderbilt University Hospital (VUH), Monroe Carell Jr. Children's Hospital at Vanderbilt, Vanderbilt Psychiatric Hospital, Vanderbilt Wilson County Hospital, Vanderbilt Tullahoma-Harton Hospital, Vanderbilt Bedford County Hospital, Vanderbilt Stallworth Rehabilitation Hospital (50% joint venture with Encompass), representing more than 1,700 inpatient beds. The Vanderbilt Transplant Center, the Vanderbilt Heart and Vascular Institute, and the Vanderbilt-Ingram Cancer Center are also VUMC constituent units. VUMC Hospitals experience more than 78,000 inpatient admissions and 11,000 observation admissions annually. Supporting this wide range of care are nearly 3000 physicians and nurse practitioners in the Vanderbilt Medical Group, and over 7,000 nurses. In 2006, Vanderbilt achieved designation as Nashville's first Magnet hospital by the American Nurses Credentialing Center and has continued active Magnet designation.
VUMC Recent Accomplishments:
Based on VUMC's historical performance and management's leadership, VUMC is the recipient of many top accolades which include:
Leapfrog "A" safety score recognized as one of the safest hospitals in the country;
U.S. News & World Report Best Hospitals:Vanderbilt University Hospital ranked #19 Nationally (Honor Roll) in July 2022; #1 in Tennessee; and #1 in Metro Nashville;
U.S. News & World Report: The Children's Hospital (as hereinafter defined) is nationally ranked in Cancer, Cardiology & Heart Surgery, Diabetes & Endocrinology, Gastroenterology & GI Surgery, Neonatology, Nephrology, Neurology & Neurosurgery, and Pulmonary & Lung Surgery;
U.S. News & World Report: The Children's Hospital is ranked #1 Pediatric Hospital in the Southeast & Tennessee;
Vizient (Quality Metrics): #22 out of 100 Academic Medical Centers;
Forbes: America's Best-In-State Employers for 2021;
Becker's Healthcare: "100 great hospitals in America" - for six straight years since 2015;
Seventh consecutive Magnet designation from the American Nurses Credentialing Center;
Healthcare Equality Index: Leader in LGBTQ Healthcare Equality by the Human Rights Campaign Healthcare Equality Index; and
College of Healthcare Information Management Executives ("CHIME"): earned 2020 CHIME Digital Health Most Wired, a recognition program managed by CHIME.
VUMC has also achieved many health care "firsts":
A nine-year-old patient of the Children's Hospital is the first in the world to receive an investigational gene editing therapy for Methylmalonic Acidemia, a rare genetic disorder diagnosed at birth;
VUMC recently completed its 10,000th organ transplant, an achievement representing nearly 60 years of life-saving work;
In the first such procedure in Tennessee, VUMC brought two donor hearts that had stopped beating back to life before transplanting them into patients in 2020. Until recently, such hearts, categorized as donation after cardiac death, could not be used for transplant and were discarded. By saving this type of heart, more life-saving transplants will be available for VUMC patients, thereby shortening wait times for people badly in need of a transplant; and
With the aid of an $18.2 million, five-year grant renewal from the National Institute on Aging, the Vanderbilt Memory and Aging Project is advancing interdisciplinary research into abnormal brain aging and cognitive decline in older adults, with continuing emphasis on the role of blood flow changes in the heart and brain.
Duties and Key Responsibilities:
Evaluates insurance data to determine competitive pricing and coverage terms. Recommends purchase of insurance coverage as appropriate.
Evaluates requirements and manages the insurance application process for an increasingly diverse environment for new ventures/affiliate engagements for the medical center.
Oversees collection of confidential data regarding loss exposures, claim payments, reserves, and payrolls as required for actuarial studies, premium audits, surveys, and insurance reviews.
Analyzes insurance policies for accuracy of coverage and appropriate endorsements purchased and insures continuity of layering coverage.
Manages filings with the State Department of Insurance for compliance and payment of premium taxes for workers' compensation self-insurance. These filings require collaboration with multiple departments to insure accurate information regarding affiliates, acquisitions, joint ventures, and partners.
Administers the process of obtaining experience modification factors to the National Council for Compensation Insurance (NCCI) for workers' compensation self-insurance.
Directs the process of obtaining necessary underwriting information for all new and renewal insurance policies (40+ applications).
Manages and oversees funding calculations and premium allocations for purchased insurance and self-insurance.
Administers detailed and complex spreadsheets of VUMC's $6.4B in assets (building values, content values, square footage, etc) to allocate property and general liability premiums, including journal entries for accurate allocation of premiums to the proper departments and centers.
Reviews, analyzes and provides recommendations on institution-wide and department-specific agreements, contracts, and leases to ensure VUMC is including the appropriate insurance requirements of outside parties and ensuring that VUMC can comply with requirements posed by the outside party. This can include recommendations related to indemnification and limitation of liability provisions which requires collaboration with VUMC's Office of Legal Affairs.
Supervises and manages requests for Certificates of Insurance to be issued on self-insurance; and certificates from the broker and/or insurance carrier on purchased insurance coverages based on the analysis of requirements from external parties.
Communicates with staff and faculty throughout all levels of the medical center and with brokers and other insurance industry partners regarding insurance coverage questions, premium charges, building projects, special events and various other insurance questions.
Assists in the development of annual budgets of approximately $15M for insurance coverage for the institution
Acts as liaison between Institution and its insurance brokers/carriers for maintenance of VUMC's insurance programs
Responsible for monitoring monthly financial data for completion of journal entries and reconciliations related to insurance coverage and ensuring proper allocation/amortization of insurance premiums to the appropriate cost centers. This includes assistance with the yearend financial review process to ensure premiums have been amortized correctly throughout the year.
Assists as needed with various claim management activities including but not limited to Network Security (Cyber Liability), Property, and other non-professional liability insurance claims
Assists in maintaining the institution's Enterprise Risk Management framework. This includes engaging leaders across the institution, development of presentations to C-suite leadership and distribution/development of institutional risk ranking surveys
Responsible for management of all out of state workers' compensation insurance requirements including maintenance/submission of out of state employee information and timely payment of premiums to carriers and monopolistic states
Vanderbilt University Medical Center is home to Vanderbilt University Hospital, The Monroe Carell Jr. Children’s Hospital at Vanderbilt, the Vanderbilt Psychiatric Hospital and the Vanderbilt Stallworth Rehabilitation Hospital. These hospitals experienced more than 61,000 inpatient admissions during fiscal year 2015. Vanderbilt’s adult and pediatric clinics treated nearly 2 million patients during this same period. Vanderbilt University Hospital and the Monroe Carell Jr. Children’s Hospital at Vanderbilt are recognized again this year by U.S. News & World Report’s Best Hospitals as among the nation’s best with 18 nationally ranked specialties. Vanderbilt University Medical Center is world renowned because of the innovation, work ethic and collegiality of its employees. From our health care advances to our compassionate care, Vanderbilt owes its accomplishments and reputation to staff and faculty who bring skill and drive and innovation to the medical center day after day. World-leading academic departments and comprehensive centers of excellence pursue scientific discoveries and transformational educational and clinical advances across the entire spectrum of health and disease.As t...he largest employer in middle Tennessee, we welcome those who are interested in ongoing development in a caring, culturally sensitive and professional atmosphere. Most of us spend so much of our lives at work, we want to be part of maintaining a workplace in which people support one another and encourage reaching for excellence. Many high-achieving employees stay at Vanderbilt because of the professional growth they experience and because of their appreciation of Vanderbilt’s benefits, public events and discussions, athletic opportunities, beautiful setting and, above all, sense of community and purpose.Vanderbilt and its employees share a set of mutual expectations that have been created with productivity, legality, fairness and safety always in mind. We believe that our investment in training and compensating employees multiplies in value when we enable individuals to deliver their best performance for the benefit of us all.