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Career Story: Risk Management Consultant

Risk Management Consultant

Job Title: Risk Consultant

Type of Company: An independent risk management consulting firm located in Needham, Massachusetts. We are the largest independent risk management consulting firm in New England and have continually ranked as one of the top ten risk management consulting firms as long as Business Insurance has been tracking our profession.

Education: BS, Ithaca College (Ithaca, NY) •• ARM, Insurance Institute of America

Previous Experience: I worked as a senior adjuster at a national insurance company for two years, then as a legal assistant at a prominent law firm for five. I have been at my current position as a senior consultant for the past seventeen years.

Job Tasks: On any given day I will provide advice and counsel to corporate clients regarding their claims management and safety programs and procedures. I will aggressively manage general liability, worker's compensation, property and automobile claims, including interaction with attorneys, medical providers and insurance company adjusters.

I also am responsible for developing written customized claims and loss management programs as well as conducting training seminars and assisting with their implementation.

I negotiate and oversee assignment and implementation of claims management protocols among client, broker and insurance carriers. I conduct comprehensive claims strategy and reserve reviews as well as claims audits of TPA's (third party administrators), insurance carriers and self-insured/self-administered claims operations. I also provide legal support services, including due diligence and mergers/acquisitions.

The risk consultants at our company will develop and implement procurement strategies ranging from single-vendor renewal negotiations to formal multi-vendor bid processes. They design customized specifications, proactively manage the renewal process, evaluate proposals, and negotiate on the client's behalf. The protection is improved and your overall cost of risk is reduced.

Best and Worst Parts of the Job: I enjoy developing the claims management programs and conducting the training seminars. I enjoy the question and answer period afterwards. We go over many examples of specific issues with clients. I happen to enjoy public speaking.

I guess the least favorite is that it is consulting and with that brings being accountable for hours worked and filling out time sheets.

Job Tips:
1. Starting off as a claims adjuster and also working as a legal assistant helped me have a good perspective on what a client would need to know. I knew both sides of the fence that way.

2. getting some experience with public speaking is also helpful.

3. Enjoying people and being a people person is helpful.

Additional Thoughts: Getting the appropriate experience at an insurance company is a good place to start.

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