Director, Excess Loss / Self-Funded Division

Director, Excess Loss / Self-Funded Division

Kansas City, MO

Position Summary :

As the Director of the Excess Loss / Self-Funded Division, you will be responsible for managing and directing the Excess Loss (Stop Loss) Strategic Business Unit while maintaining profitable group insurance products. Your role encompasses a wide range of responsibilities, including product development, relationship building with Managing General Agents (MGA’s), negotiating marketing and administrative services, coordinating with reinsurers, and ensuring compliance with all relevant regulations.

Expectations :

• Develop a comprehensive marketing strategy for prospective MGA’s.
• Conduct on-site visits and evaluations of prospective MGA’s, assessing their marketing and administrative capabilities.
• Negotiate marketing and administrative service agreements with MGA’s.
• Negotiate Carrier Fees and other compensation structures with MGA’s.
• Provide support and assistance in negotiations with reinsurer(s) on reinsurance agreement(s).
• Coordinate the development and maintenance of all reinsurance documents for specific products or producers.
• Implement administrative procedures (internal and external) to facilitate policy issuance, premium collection, and claims payments.
• Deliver policy equipment and procedural guidelines to MGA’s.
• Develop efficient business flows that align with the needs of stakeholders, including banking arrangements.
• Ensure accurate and timely distribution of risk premiums to the Reinsurer(s).
• Monitor Managing General Agents (MGA) for compliance with MGA Agreement, reinsurance arrangements, and state / federal legislation.
• Coordinate and participate in the drafting and filing of group policy forms, amendments, and revisions, including responses to objections or disapprovals from regulatory bodies.
• Develop excess loss experience reporting with each MGA and reinsurer, monitoring these reports regularly to foster profitable relationships.
• Provide support for auditing exercises of MGA’s by field auditors (internal or external) and the auditing exercises of the Reinsurer(s).
• Review audit reports and ensure compliance with audit findings by MGA’s.
• Support compliance efforts with products and producers.
• Collaborate with the Legal Department (or outside counsel) in resolving disputes, handling demand letters, lawsuits, etc.
• Supervise staff supporting group insurance products.
• Perform other related duties as assigned and required.

Competencies :

Requisites :

If you are a seasoned insurance professional with a proven track record in Excess Loss and life insurance administration, we encourage you to apply for this challenging and rewarding role.