Property Specialist, Claims Vendor Management - Mississauga, Canada - Definity Financial Corporation

Definity Financial Corporation

Verified Company

Mississauga, Canada

3 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Job

ID :
6826

Category :
Claims

Brand :
Definity

Regular/Temporary :
Regular

Fulltime/Parttime :
Full Time

Location :
Mississauga, Canada

Definity includes some of Canada's most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance.

With strong roots that date back to 1871, we've grown to become a digital leader in the insurance industry. We're proud to help our clients and communities adapt and thrive in a world of constant change.

Our promise to you:
It's better here. Why? Because we CARE, and we provide an employee experience that's collaborative, ambitious, rewarding, and empowering.

Our ambition is to be one of Canada's leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.

Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with.

Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.

Summary
The Vendor Specialist is accountable for the oversight and performance management of Claims vendor partners.

The Vendor Specialist will oversee multiple external vendor relationships that are significant in scope, complexity, and criticality, specializing in Property.

The Vendor Specialist will be intimately familiar with the various Vendor Management domains including vendor evaluation and selection, strategic alignment and value, communication and expectations, performance management, and issue escalation.

They will also be a key input into new contract and renewal negotiation activities, and post-launch, be accountable for monitoring overall contract compliance, SLA monitoring, performance management including financial objectives and penalties.

The vendor management team will be responsible for planning, executing, reporting, and governing the overall vendor portfolio for Claims.

The team will work with key claims management in designing critical control reports to enable timely and informed management decisions.

The Vendor Specialist will support strategic vendor management initiatives including a tool and process to manage the vendor portfolio data, and the design and implementation of a formal vendor governance framework.

The Vendor Specialist understands the internal and external landscape for standards and practices for Vendor Management and is involved in the planning and execution of the overall Claims deliverables related to this function.

The Vendor Specialist provides updates to the Manager, Vendor Management and Business leaders for the function and will stay abreast of industry and global trends.

What can you expect in this role?

Vendor Strategy Implementation

Supports the Vendor Management Team in implementing vendor strategies into the management of partner performance and selection
Maintaining vendor performance scorecards, dashboards and trend analysis to enhance service excellence and operational effectiveness of his/her function
Implements vendor management strategies to improve performance, drive customer experience, and create commercial value Querying databases to collect, interpret and analyze data

Vendor Management

Participates in and supports vendor meetings to facilitate performance management discussions, issue resolution and continuous improvement initiatives.
Strategically represents the business interests in the partnership. This includes clearly articulating the business performance expectations, as well as the perceived total value proposition of the relationship to vendor partners and key Claims leaders and stakeholders.
Accountable for the overall performance and compliance management of a portfolio of vendor partners; ensures crisp and timely feedback to partners and escalates consequential performance deficiencies promptly to both the vendor and Claims Management teams.
Supports the creation and maintenance of a performance data repository to store key performance data which is searchable and reportable
Maintains and implements comprehensive and holistic visual scorecards that measure both contractual performance indicators as well as other important and impactful performance factors. This should include stack rank, or industry benchmark comparative performance assessments.
Stays abreast of market and industry capabilities, and fair market rates for comparable products and services. Ensures Economical remains in a favourable position to achieve benchmark rates and receive market best services and capabilities.
Periodically travel to establish and maintain relationships with vendors

Relationship Management