Wordings/Contracts Specialist

XL CATLIN; London; On-site; GBP 100,000 - 125,000; Full time

Job description

Job Description - Wordings/Contracts Specialist (12001132D20241112)

Job Number:

12001132D20241112

Wordings/Contracts Specialist

London, UK

Our Global Wordings team has an exciting opportunity for an adaptable individual to join them as a Wordings Specialist. You will be an integral part of the team and the wider Legal department supporting the underwriting business across all product lines covering a wide variety of complex risks. You will have the opportunity to demonstrate your technical drafting skills and advisory services to the underwriters, their clients and brokers in order to provide a service differentiator for AXA XL.

Essential Responsibilities

1. Analysing – reviewing our existing products, new products and those of our competitors, including analysis and explanation of individual clauses right through to entire product wordings, always with a focus on delivering a timely and commercial solution to any issue raised.
2. Creating & Innovating – working closely with key stakeholders to build new insurance products from scratch or refine or expand existing products, leading innovation for the AXA XL brand.
3. Teamwork – collaborating with colleagues across the Wordings team, the wider Legal Department and beyond (Claims, Compliance, Conduct Risk) in order to deliver on team goals, service delivery requirements and internal projects.
4. Training and Developing – sharing best practice solutions across the wider business and more junior wordings colleagues, delivering presentations to underwriting teams, providing pre-bind and post-bind technical wording advice.
5. Supporting underwriters in achieving underwriting discipline both through coverage analysis and offering robust and clear wording solutions and highlighting potential coverage exposure to emerging risks.
6. Governance and Contracts Certainty - the ability to ensure contract certainty and adhere to governance principles in reviewing, managing, and advising on contractual terms in accordance with underwriting, legal, risk, compliance and regulatory standards and requirements.
7. Collaboration – working closely with key stakeholders to deliver a fast, efficient, and high-quality service to our internal underwriting partners always prioritizing the needs of our internal stakeholders.

You will report to a Wordings Manager.

Required Skills and Abilities

1. Ability to interpret and analyse (re)insurance clause and/or wording requests and to satisfy these by drafting your own (re)insurance clauses and wordings from scratch in a clear and robust manner (in English).
2. Ability to deliver your own wording solutions to underwriters, brokers and peers both in writing and face to face.
3. A comprehensive understanding of what the business, legal and compliance needs are for individual insurance classes.
4. An ability to plan and self-manage workload and work under pressure whilst adhering to deadlines and competing priorities.
5. An ability to work both as part of a team and independently with little or no supervision and to exercise independent judgement.
6. Demonstrable wordings experience and proven record of working in depth with (re)insurance wordings.
7. Analytical and critical thinking, technical proficiency of the underwriting function and robust interpersonal skills.
8. An ability to interrogate and explore complex and abstract concepts relevant to policy coverage.
9. An understanding of how insurance products are constructed and perform in the real world.

Desired Skills and Abilities

1. An in-depth understanding of standard clauses used in the market and class-specific wording structures.
2. Experience in the use of contract analytics technology tools.
3. ACII or Legally qualified or working towards qualification.

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.

At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential.

Location

London, UK

Job Field

Legal, Compliance & Risk

Schedule

Full-time

Job Type

Standard

AXA XL is an Equal Opportunity Employer and does not discriminate against any colleague or applicant for employment on the basis of race, color, national origin, religion, sex, gender identity and/or expression, sexual orientation, age, disability, genetic information, veteran status, military status or any other category protected by local law.