Gas Power New Units Insurance Expert

ZipRecruiter; Stafford; On-site; GBP 95,000 - 112,000; Full time

Job summary

Join GE Vernova as part of the Gas Power New Units insurance team where you'll focus on internal and external insurance needs, providing support in contract negotiations and risk management. This role involves cultivating relationships with insurers, managing insurance policies, and contributing to best practices in the field, all while promoting a culture of innovation and inclusiveness.

Benefits

Competitive benefits package

Opportunities for career development

Flexible work-life balance programs

Qualifications

• Significant experience in underwriting, risk management, brokerage.
• Extensive knowledge in all-risk property, construction, marine insurance.
• Hands-on experience in analyzing and negotiating contracts.

Responsibilities

• Provide transactional support during contract negotiations.
• Manage insurance risk policies and thresholds.
• Lead insurability efforts for New Product Initiatives.

Skills

Risk Analysis

Negotiating Skills

Influencing Skills

Education

Bachelor degree from accredited university

Professional designations like CPCU, ARM

MBA or Legal Degree

Job description

Job DescriptionJob Description Summary
Vernova Purpose

GE Vernova is accelerating the path to more reliable, affordable, and sustainable energy, while helping our customers power economies and deliver the electricity that is vital to health, safety, security, and improved quality of life. Are you excited at the opportunity to electrify and decarbonize the world?

What impact you'll make

As a member of the Gas Power New Units insurance team that focuses on internal and external insurance needs you will provide transactional support during contract negotiations by interfacing with customer and supplier insurance experts and identifying risks during underwriting. You will also maintain relationship management of insurers through annual insurance seminars and discussions to keep them updated on GEV HDGT and Aero technology. You will manage insurance risk policies/risk thresholds across the New Unit business and through GEV corporate and deliver insurance and risk management training to the business. You will lead insurability efforts for New Product Initiatives (NPI) with close partnership with Product Management. Cross-train with Gas Power Services insurance team for best practice sharing and to support each other when a backfill is needed during vacations/illnesses/training/traveling, etc.

Job Description

What you'll do

Transactional Support:

• Interface internally with commercial operations and sales providing Risk analysis and solutions in the negotiation of contracts and comment to bid documents.
• Interface externally with customers, partners, suppliers, subcontractors , brokers, and underwriters during negotiations and when needed for negotiating claims in execution.
• Obtain and provide Premium estimates for Proposals/Contracts.
• Review/ comment on Owner/ Partner policies and certificates, as required.
• Ensure that customer/partner risk requirements are in line with GEV risk policies, insurances, and industry standards.
• Interface internally with Project Managers, Contract Managers, Finance Managers, and Logistics for insurance needs as part of the commercial negotiations and bid preparation.

Relationship Management of Insurers:

• Cultivate and maintain key relationships in the global insurance market to keep a pulse on insurance issue that may impact GEV.
• Be a point of contact for insurers as they have questions about GEV technology.
• Support the 3 annual insurance seminars (US, Asia, Europe) to own GEV's narrative with insurers on top issues.

Manage Insurance Risk Policies, Thresholds, and Exposure:

• Contribute/consult on the evolution of GEV risk policies and thresholds in connection with the commercial DOA.
• Actively work with GEV Corporate Insurance to identify solutions to improve the processes and identify coverage issues.
• Contribute to GEV's Renewal process by providing risk data to Corporate Insurance.
• Provided guidance and support to Contract Managers and others for the settlement of claims under customer/ partner insurance policies.
• Provide internal training on insurance standards, risks, and DOA policies.

New Product Initiatives:

• Internally work closely with Products team to identify potential "unproven" technology issues, and provide solutions, prior to customers' entrance into the insurance market
• Support commercial team to ensure that contracts properly mitigate "new product technology" risks.
• Interface externally with customers & partners, broker and underwriter in the negotiation of contract terms, insurability and warranty issues
• Prepare and deliver insurance & risk management training presentations to the business.

What you'll bring (Basic Qualifications)

• Bachelor degree from accredited university or equivalent knowledge and experience
• Significant experience in underwriting, risk management, brokerage, or related field

What will make you stand out

• Extensive knowledge of : All-Risk property, Construction, Marine, Liability insurance coverage; industry standards and practices; industry resources
• Bachelor degree from accredited university in insurance, risk management, or related field
• Professional designations, including CPCU, ARM
• MBA or Legal Degree
• Strong negotiating and influencing skills
• Ability to thrive in dynamic environment interacting with multiple internal functions (commercial, project management, legal, finance etc.) as well as external customers, insurers, underwriters, brokers, etc
• Hands on experience in analysing and negotiating allocations of risk in contracts.
• Hands on experience in pursing insurance recoveries and resolving conflicts.
• Hands on experiences in educating the marketplace on new technologies and facilitating insurance support of NPI.

Benefits Available to You

GE Vernova employees rise to the challenge of building a world that works. In order to meet this mission, we provide varied, competitive benefits to help support our workforce: Our Culture | GE Vernova (gecareers.com)

• Our compensation & benefits are designed to reward high performers and help you manage your personal and family needs. We offer a robust benefits package depending on your employment status and your requirements.
• A healthy, balanced lifestyle can mean different things to different people. We've created programs that support the way you live and work today.
• GE Vernova invests to provide opportunities to grow your career by providing a path for continued on-the-job learning and development.

At GE Vernova, we believe in the value of your unique , background and experiences. We are committed to fostering an inclusive culture, where everyone feels empowered to do their best work because they feel accepted, respected and that they belong. Click here to learn more: https://jobs.gecareers.com/vernova/global/en/i-d-e

About GE Vernova Gas Power

GE Vernova's Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and power plant technologies and services with the industry's largest installed base.

The base pay range for this position is $128,400.00 - 150,000.00K USD. The specific pay offered may be influenced by a variety of factors, including the candidate's experience, education, and skill set. This position is also eligible for bonuses, such as a performance bonus/variable incentive compensation/equity. This position is expected to close on 6/2/25, or thereafter.

The company pays a geographic differential of 110%, 120%, or 130% of salary in certain areas.

Healthcare benefits include medical, dental, vision, and prescription drug coverage; access to a Health Coach, a 24/7 nurse-based resource; and access to the Employee Assistance Program, providing 24/7 confidential assessment, counseling, and referral services. Retirement benefits include the GE Retirement Savings Plan, a tax-advantaged 401 (k) savings opportunity with company matching contributions and company retirement contributions, as well as access to Fidelity resources and planning consultants. Other benefits include tuition assistance, adoption assistance, paid parental leave, insurance, life insurance, and paid time-off for vacation or illness.

General Electric Company, Ropcor, Inc., and in some cases their affiliates, each sponsor certain employee benefit plans or programs (i.e., is a "Sponsor"). Each Sponsor reserves the right to terminate, amend, suspend, replace, or modify its benefit plans and programs at any time and for any reason, in its sole discretion. No individual has a vested right to any benefit under a Sponsor's welfare benefit plan or program. This document does not create a contract of employment with any individual.

Additional Information

Relocation Assistance Provided: No