Global Insurance Specialist
Eaton’s Corporate Sector is currently seeking a Global Insurance Specialist to join our team. This position is based at our Beachwood, OH location. Flexible hybrid work schedule available.
Position Overview:
This role manages the company's global exposure to several key risk exposures and leads the implementation of controls, processes or insurance programs that keep these exposures within leadership's risk tolerance. It involves directing the resolution of the insurance claims within its scope by using third-party claim administrators (TPAs), and close collaboration with the businesses and Law Department. Identify, analyze and define solutions for productivity improvements and cost reduction opportunities. Raise project management and strategic/financial analysis skills within the department.
Making what matters work at Eaton takes the passion of every employee around the world. We create an environment where creativity, invention and discovery become reality, each and every day. It’s where bold, bright professionals like you can reach your full potential—and where you can help us reach ours.
In this function you will:
- Direct the investigation, negotiation and settlement of claims involving the insurance programs managed. This includes: (1) communicating on a daily basis with adjusters, insurers, Eaton leadership, engineers within the businesses, and the Law Department regarding investigations and settlement negotiations; (2) approving settlements that exceed third party adjuster (TPA) authority levels; (3) ensuring that Eaton obtains favorable subrogation settlements and salvage recoveries; (4) coordinating with regional resources; and (5) performing regular audits of TPA claim files and processes.
- Manage the renewal processes for the global cargo, professional liability, business travel accident and surety bond insurance programs.
- Collaborating with the Global Risk managers, lead the annual renewal processes for all global insurance programs.
- Conduct special projects, research, actuarial or analytical work for department management; collect and analyze risk data to support management decision making processes.
- Provide department members and other internal customers with ad hoc reports and analyses.
- Collect, organize, analyze and display underwriting data needed for global insurance program renewals.
- Identify and implement solutions to automate, streamline and digitalize processes and tasks.
- Lead the department's efforts to expand the innovative use of the RMIS system (Riskonnect).
Why work at Eaton? We provide benefits that are industry competitive and focused on employee well-being. Listed below are programs that are offered globally, but program availabilities may vary by site.
- Flexible work options to help balance work/life demands (at participating Eaton sites)
- Healthcare/retirement savings programs
- Competitive compensation packages to reward skills and performance
- Tuition assistance or financial help for ongoing learning and development
- Health, Dental, Vision & Wellness programs
- Donation matching (U.S., Canada, Puerto Rico)
When we embrace the different ideas, perspectives and backgrounds that make each of us unique, we — as individuals and as a company — are stronger.
Qualifications
Required (Basic) Qualifications:
- Bachelor's Degree in business, finance or related field required.
- Five to seven years of applicable experience required.
- Relocation assistance is not available for this position. Only candidates currently located within a 50 mile radius of Beachwood, OH will be considered. Active Duty Military Service member candidates are exempt from the geographical area limitation.
- Must be legally authorized to work in the United States without company sponsorship.
Preferred qualifications:
- MBA preferred
- Strong finance, project management, risk management and systems a plus.
Position Criteria:
- Must be able to influence others without having direct authority.
- Strong analytical, reasoning, organization and problem-solving skills.
- Must be able to work independently, make sound business decisions within the position's level of authority and be able to properly prioritize dynamic work demands and requests from multiple parties.
- Excellent project management skills.
- Ability to continuously improve existing processes and procedures and communicate these to others in the department.
We are committed to ensuring equal employment opportunities for all job applicants and employees. Employment decisions are based upon job-related reasons regardless of an applicant's race, color, religion, sex, sexual orientation, gender identity, age, national origin, disability, marital status, genetic information, protected veteran status, or any other status protected by law.