Wordings/Contracts Specialist

TN United Kingdom; London; On-site; GBP 45,000 - 75,000; Full time

Job summary

An established industry player is seeking a Wordings Specialist to join their dynamic Global Wordings team. This role is crucial in supporting the underwriting business across diverse product lines, focusing on complex risks. You will leverage your technical drafting skills and advisory capabilities to enhance service delivery to underwriters, clients, and brokers. The position involves analyzing and creating innovative insurance products, collaborating with various stakeholders, and ensuring governance and clarity in contractual terms. If you're passionate about insurance and eager to make an impact, this opportunity is perfect for you.

Qualifications

• Ability to interpret and analyze (re)insurance clauses.
• Experience with (re)insurance wordings and a proven track record.

Responsibilities

• Reviewing and analyzing existing and new insurance products.
• Collaborating with stakeholders to develop or refine insurance products.
• Providing coverage analysis and clear wording solutions.

Skills

Analyzing insurance clauses

Drafting clear clauses

Understanding business and legal requirements

Managing workload under pressure

Interpersonal skills

Analytical and critical thinking

Education

ACII qualification

Legal qualification

Tools

Contract analytics tools

Job description

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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.

DISCOVER your opportunity

What will your essential responsibilities include?

1. Analyzing – 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) 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 through coverage analysis and offering robust and clear wording solutions, while highlighting potential coverage exposures to emerging risks.
6. Governance and Contracts Certainty – ensuring contract certainty and adhering to governance principles in reviewing, managing, and advising on contractual terms in accordance with underwriting, legal, risk, compliance, and regulatory standards.
7. Collaboration – working closely with key stakeholders to deliver a fast, efficient, and high-quality service to internal underwriting partners, maintaining clear communication and understanding their needs.

You will report to a Wordings Manager.

We’re looking for someone with these skills and abilities:

1. Ability to interpret and analyze (re)insurance clauses and wording requests, and to draft your own clauses and wordings clearly and robustly in English.
2. Ability to present wording solutions effectively both in writing and face-to-face.
3. A comprehensive understanding of the business, legal, and compliance needs for various insurance classes.
4. Strong planning and self-management skills, with the ability to work under pressure and meet deadlines.
5. Ability to work independently and as part of a team, exercising independent judgment.
6. Demonstrable experience with (re)insurance wordings and a proven record of working in-depth with them.
7. Analytical and critical thinking skills, with technical proficiency in underwriting functions and interpersonal skills.
8. Ability to analyze complex concepts relevant to policy coverage.
9. Understanding of how insurance products are constructed and perform in practice.

Desired skills include:

1. In-depth knowledge of standard clauses and class-specific wording structures.
2. Experience with contract analytics technology tools.
3. ACII qualification or legal qualification, or working towards it.

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. We serve mid-sized companies, multinationals, and innovative individuals, not just by providing re/insurance but by reinventing it.

We combine a comprehensive capital platform, data-driven insights, leading technology, and top talent in an agile and inclusive workspace to deliver excellent client service across property, casualty, professional, financial lines, and specialty lines.

Our innovative and flexible approach to risk solutions partners with those who move the world forward.