We anticipate the application window for this opening will close on - 22 Dec 2025

 

At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You’ll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.

A Day in the Life

The Principal Insurance and Claims Management role is a newly created expert and highly specialized position under Medtronic Diabetes Risk Management, reporting directly to the Sr. Director, Insurance and Risk Management.

This position plays a key role in the Insurance Program placement to ensure Medtronic Diabetes has the most fitting protection at the most appropriate cost.

Amongst its key responsibilities, this is a global role what works cross-functionally and cross-geographies with key stakeholders at all levels to gather information for insurance placement, facilitates claims resolution between internal and external stakeholders, provides transparency and visibility of insurance premiums, coverages and guidance for budgeting purposes, and works with key business partners to strengthen our risk management capabilities.

This position is an exciting opportunity to work with Medtronic's Diabetes business. Medtronic has announced its intention to separate the Diabetes division to promote future growth and innovation within the business and reallocate investments and resources across Medtronic, subject to applicable information and consultation requirements. This separation provides our team with a bold opportunity to unleash our potential, enabling us to operate with greater speed and agility. As a separate entity, we anticipate leveraging increased investments to drive meaningful innovation and enhance our impact on patient care.

This role requires you to work on-site at our Northridge, CA or Minneapolis, MN office at least 3 days per week.

Insurance Placement (40%)

• Provides input and reviews Broker’s strategy for accuracy during the renewal negotiations

• Coordinates internal data requests of pre-binding information by market/function in preparation to renewals (e.g., data collection and review for accuracy, compilation of underwriting and data exposure) in accordance with Insurer’s request; influences data collection timeline internally (key stakeholders) and externally (brokers)

• Contributes with recommendations on renewals (e.g., risk tolerance, premiums x coverage relationship, fees, etc.) to the Sr. Director, Insurance and Risk Management

• Reviews of insurance policies and endorsements for accuracy

Claims Management and Certificate of Insurance (COIs) (30%)

• Key point of contact for claims from triage to resolution; assists with claims settlement between key internal stakeholders and external partners (brokers and/or insurers).  Notifies Sr. Director, Insurance and Risk Management to determine next steps for damages that might influence business sustainability / could impact the business or function’s ability to meet its strategic plan objectives

• Manages requests for issuance and revision of COIs; coordinates COIs renewal process for internal distribution; and auto identification cards process

• Supports claims management including worker’s compensation and auto insurance claims

Insurance Budget, Premiums Allocations, and Invoicing (25%)

• Provides insurance budget guidance to Finance according to trends provide by the Brokers/Insurers

• Coordinates premium allocation across different legal entities

• Reviews premium invoices and coordinates payments; troubleshoot reconciliations if needed

Risk Management (15%)

• Monitors of loss control program compliance and acts as key point of contact between the business and key insurers in case of visits and audits

• Documents key risk management processes, insurance manuals, builds presentations to educate key stakeholders about Medtronic Diabetes Risk Management; assists with the Insurance Program Strategy Playbook and the Risk Management SharePoint site

• Supports Sr. Director, Insurance and Risk Management in performing insurance due diligence reviews for mergers/acquisitions and new business, and potential Requests For Proposals (RFPs), if needed

REQUIRED QUALIFICATIONS

• Bachelor’s Degree in Insurance, Business, or Engineering and 7 years of relevant risk management and insurance experience with emphasis on managing global risk exposures

• Or, advanced degree and 5 years of relevant risk management and insurance experience with emphasis on managing global risk exposures

PREFERRED QUALIFICATIONS

• Master’s Degree with specialization in Risk Management, Insurance, or Finance

• Professional insurance designations or equivalent experience

• Professional and management liability, and property and casualty insurance experience

• Expertise in professional and management liability, and property and casualty insurance, particularly within the MedTech field

• Proficient in Microsoft 365 packages (Excel, PowerPoint, Word, SharePoint, Teams)

SOFT SKILLS

• Ability to work independently and influence without ranks

• Analytical and detailed oriented

• Process driven with a disciplined approach towards deliverables and timeline

• Ability to work across multiple time zones and cultures

Physical Job Requirements

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position. 

The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role.

Benefits & Compensation
 

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create.  We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
 

Salary ranges for U.S (excl. PR) locations (USD):$96,800.00 - $145,200.00

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

The following benefits and additional compensation are available to those regular employees who work 20+ hours per week: Health, Dental and vision insurance, Health Savings Account, Healthcare Flexible Spending Account, Life insurance, Long-term disability leave, Dependent daycare spending account, Tuition assistance/reimbursement, and Simple Steps (global well-being program).

 

The following benefits and additional compensation are available to all regular employees: Incentive plans, 401(k) plan plus employer contribution and match, Short-term disability, Paid time off, Paid holidays, Employee Stock Purchase Plan, Employee Assistance Program, Non-qualified Retirement Plan Supplement (subject to IRS earning minimums), and Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).

 

Regular employees are those who are not temporary, such as interns.  Temporary employees are eligible for paid sick time, as required under applicable state law, and the Employee Stock Purchase Plan. Please note some of the above benefits may not apply to workers in Puerto Rico.

 

Further details are available at the link below:

Medtronic benefits and compensation plans

About Medtronic

We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people. 
We are engineers at heart— putting ambitious ideas to work to generate real solutions for real people. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary.

Learn more about our business, mission, and our commitment to diversity here.

It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.