17 Oct
Hiscox
London
Job description
Job Type : Permanent
Permanent
Build a brilliant future with Hiscox
About the team / division
Hiscox is a diversified international insurance group. As part of the group, Hiscox London Market predominantly insures unusual and larger global risks and companies with complicated insurance needs, working within four divisions :
- Casualty (directors & officers’ liability, general liability, cyber risks)
- Marine Energy and Speciality (marine hull and cargo, marine & energy liability, renewables and upstream O&G;)
- Property (commercial / household, major property, flood)
- Crisis Management (terrorism, political violence, K&R;)
It is a time of change within the London insurance market and the role of the wordings specialist has to evolve to meet the new challenges being presented.
The Contract Wordings team has a crucial role to play in support of the future plans of Hiscox, from new product development to customer service.
The Team currently consists of three experienced insurance contract specialists, led by a Head of Wordings. Together they handle contract related work for the various lines of business underwritten by Hiscox London Market across both insurance and facultative reinsurance.
The Team also assist with insurance contractual matters for other areas of the Hiscox group.
With a senior member of the Team due to leave at the end of January 2024, we are looking to recruit someone who has either (1) proven experience as a wordings specialist, and is recognised as such within the wider London and Insurance Market or (2) fantastic potential, high academic ability and a drive to gain experience in wordings.
They will have the responsibility and will be expected to help us maintain an excellent service to the underwriters within Hiscox and to evolve the wording specialist role so that it remains a relevant and integral part of the Company’s future structure.
The Role
This is an exciting opportunity that will place the candidate in a leading position within the Lloyd’s Market. The candidate will be expected to work closely with the underwriters leading a number of the lines of business to shape the coverage and wordings within the Lloyd’s Market.
It is an existing position and the candidate will be expected to support and the rest of the team.
The candidate will attend Broker and Client meetings with the underwriters, as well as regularly attending the underwriter team meetings.
The candidate will be expected to lead new product design and innovation ideas and provide views and critiques of ideas and innovative solutions.
The candidate will require a commercial mind as they will not only be expected to advise on key coverage and wording matters, but also provide their opinion and make decisions on coverage issues.
Whilst it is ultimately the underwriters decision on writing the risk, this candidate will be expected to contribute significantly on coverage specific decisions.
The candidate will be expected to attend the Product Governance Group within London Market taking a leading position on interrogating the product intent, providing innovative ideas on how to develop the products while ensuring that they relevant and commercially attractive to clients.
What you’ll be doing in the role
Leading the wordings and coverage discussions on existing and new products.
Drafting new products in the plain English style used by Hiscox ensuring that the underwriting intention is clear.
Attending Broker and Client meetings with the underwriters to provide guidance and expertise on specific coverage elements of the products.
Extensive liaison with underwriters on a day to day basis to provide guidance on coverage issues and assistance with risk management.
Researching potential coverage issues and producing reports about these findings.
Providing technical training for underwriters and other wordings specialists within Hiscox.
Representing Hiscox at external market meetings.
We are looking for someone with :
- a commercial view of a products and their value to the client;
- confidence to make a decision on coverage, and not just advise;
- proven wordings and contracts experience or proven experience demonstrating transferrable skills;
- proven contract drafting experience with an ability to create products from new;
- an ability to lead and facilitate complex discussions;
- good interpersonal skills;
- attention to detail;
- an inquisitive mind and a proven problem-solver;
- an ability to adapt and work on a range of different wordings;
- the ability to effectively interact with all types of people, including underwriters and other Hiscox colleagues, brokers, and customers;
the ability to work well both individually and in teams, who is a motivated self-starter; and
a desire to learn and increase their technical and professional skills.
Our must haves
- A minimum of five years’ wordings related experience gained in an insurance, reinsurance or law firm. Experience in other industries will be considered if the experience shows strong skills in contracts and drafting.
- Excellent contract drafting skills, including sound knowledge of English grammar and sentence construction.
Nice to have
- Law degree or legal experience which involves an element of reviewing and preparing legal contracts.
- A degree in a suitable subject or insurance qualifications.
Diversity and Hybrid working
At Hiscox we care about our people.
We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.
We have also learned over the past few years that working life doesn’t always have to be in the office, and we have introduced hybrid working to encourage a healthy work life balance.
This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance.
We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.
Apply now for further information
You can follow Hiscox on LinkedIn, Glassdoor and Instagram (@HiscoxInsurance)
LI-CM1
LI-Hybrid
Work with amazing people and be part of a unique culture
▶️ Senior Wordings Specialist
🖊️ Hiscox
📍 London