Avencia Consulting are recruiting on behalf of a leading specialty Insurer based in the City, who are looking to hire 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, specialty reinsurance, whole account/multi-class and bespoke.
The 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 Bespoke and Specialty and Partnerships. The role is London based with the opportunity to work in other locations.
Review, draft and negotiate the content of contract wordings and related supporting documentation to ensure the terms clearly reflect the coverage being provided.
Maintain repository of contract clauses, subjectivities and guidance to support the contracts process.
Carry out post-inception sampling of contracts to ensure standards are maintained.
Communicate and disseminate information internally, interact with and solicit support from other areas of the business, particularly claims, legal, finance, compliance and operations.
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.
Skills & experience
Knowledge 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.