Insurance Sourcing Specialist

1 week ago

Bournemouth, Bournemouth, United Kingdom Vitality Full time
Job Title: Insurance Sourcing Specialist

We are seeking an experienced Insurance Sourcing Specialist to join our team at Vitality. As a key member of our sourcing team, you will be responsible for sourcing, contract, and supplier management for Group Insurance for the organisation.

Key Responsibilities:
  • Identify and evaluate potential risks to the company's assets, operations, and personnel, and evaluate these in terms of impact and likelihood.
  • Be the point of contact for all corporate insurance claims, and all related insurance queries, dealing with multiple internal and external stakeholders, to advise on best practice.
  • Build strong relationships with key stakeholders to define category-focused sourcing strategies to meet sourcing and business objectives.
  • Utilise existing knowledge and conduct market research to identify potential corporate insurance suppliers, define the preferred sourcing solution, and manage any cut-throat (RFI/RFP) exercises to meet business and commercial requirements.
  • Draft and implement robust contracts and service schedules with selected suppliers in order to maximise business value. Mitigation of risk and liaison with Legal is required as standard.
  • Manage all associated risk and compliance activities, driving post-contract value and stakeholder management.
  • Perform on-going supplier management and assurance actions across a portfolio of suppliers to help Vitality effectively manage service performance.
Requirements:
  • Possess specific knowledge and experience in Corporate/Group Insurance management strategy and implementation primarily in General Insurance corporate coverage.
  • Have impressive experience of negotiations with suppliers to deliver value and mitigate contractual risk.
  • Show a broad understanding of contract drafting, service definition, performance, and commercial structures.
  • Have a proven record of effective category management, demonstrating the implementation of sourcing strategy, supplier rationalisation, and supplier innovation.
  • Be able to communicate, influence, and network with stakeholders at all levels, both internally and externally.
  • Possess a positive level of proficiency of desktop applications including Excel, Word, SharePoint, and PowerPoint.
What We Offer:
  • Bonus schemes that regularly reward your performance.
  • A pension of up to 12% - we will match your contributions up to 6% of your salary.
  • Our award-winning Vitality health insurance - with its own set of rewards and benefits.
  • Life assurance - four times annual salary.
  • Great career opportunities.

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