Contract Wordings Specialist

Job Description

About usAvencia Consulting are currently working with a leading Specialty Insurer based in the City, who are looking to expand their Wordings team for a Contract Wordings Specialist to join.The Company currently writes lines of business including; specialty insurance: aviation & aerospace, energy, marine, property, terror & political violence, contingency and other specialty lines; reinsurance: property reinsurance, property retrocession, specialtyreinsurance, whole account/multi-class and bespoke.The roleThe role services all group entities in respect of inwards, outwards and internal contract wordings and related supporting documentation. Covering a broad spectrum of business across four pillars (Bespoke, Specialty, Reinsurance and Partnerships). The roleis London based with the occasion to work in Bermuda during peak renewal periods and to visit brokers and clients when necessary.Key accountabilitiesReview, draft and negotiate the content of contract wordings and related supporting documentation (inwards, outwards and internal) to ensure the terms clearly reflect the coverage being provided/purchased.Provide high-level support across the group to ensure that the business written and cover purchased meets market requirements and is cognisant with the boundaries of the groups risk appetite and strategy.Support the Head of Contract Wordings to embed a risk-based culture of contract wordings through use of the underwriting system data, and underwriting team wordings champions, and to embed minimum clause standards to enhance exposure management capabilities.Communicate and disseminate information internally, interact with and solicit support from other areas of the business, particularly claims, legal, finance, compliance and operations.Produce and publish internal guidance and prepare and deliver internal presentations, workshops and training sessions. Mentor junior underwriters on contract wording issues.Visit other office locations to ensure group requirements are aligned and understood. Participate in Client, Reinsurer and Intermediary visits to maintain awareness of market trends and issues and to reach agreement on strategy.Interrogate data and provide regular updates and reports to underwriters and senior management relating to extended coverage and contract wording trends.Play an active part in internal workstreams and projects to improve standards and risk controls.Participate in external working parties and interact with market bodies, attend external meetings and actively engage with peers in the market to keep improving standards.Skills & experienceKnowledge and experience in contract wordings, preferably gained within a (re)insurance company or broking environment.High level of attention to detail and a good standard of English grammar and sentence construction.Enthusiasm and willingness to challenge both internally and externally.Ability to negotiate, influence and effectively disseminate knowledge and articulate opinion, whilst maintaining awareness of commercial environment.Self-motivated with the ability to work on own initiative and as part of a team.Flexible approach to work with the capability to plan, prioritise and handle workload to ensure expectations of stakeholders are effectively managed during peak renewal periods.