Wordings Specialist

3 days ago

Woodbridge, Suffolk, United Kingdom Willis Towers Watson Full time
We expect the candidate to be involved in providing support to the team - ensuring contract certainty is always adhered to and helping to standardise core product offering. An ongoing requirement will be to review, improve and amend wordings as needed, ensuring latest best practice and clauses are implemented.

The remit is broad and review work will span across both Insurance and Reinsurance Lines of Business covering Large and Complex single risk, Facilities and Reinsurance (Proportional, and Non-Proportional).

The Role
  • Review and provide commentary on contract wordings.
  • Recommendation amendments and improvements to contract wordings.
  • Review carrier produced documentation.
  • Resolve contract wordings queries from the Structured Risk Team, Clients, Client Teams & Brokers.
  • Provide technical advice to sales/client team and network on Wordings related matters.
  • Provide comparisons between differing wordings.
  • Analyse / imagine claims scenarios to stress test wordings.
  • Draft contract Wordings and Endorsements, where required.
  • Assist with the negotiation of contract wordings with (Re)Insurers.
  • Attend client team, client and (Re)Insurer meetings as needed.
  • Draft and/or present training material (as and where required)
  • Review of Market Reform Contracts (Slip/MRCs), as required.
  • Wordings-related ad hoc tasks, as required.
    We expect the candidate to be involved in providing support to the team - ensuring contract certainty is always adhered to and helping to standardise core product offering. An ongoing requirement will be to review, improve and amend wordings as needed, ensuring latest best practice and clauses are implemented.

    The remit is broad and review work will span across both Insurance and Reinsurance Lines of Business covering Large and Complex single risk, Facilities and Reinsurance (Proportional, and Non-Proportional).

    The Requirements
    • Good understanding of (Re)Insurance and (Re)Insurance contract law.
    • Knowledge/Awareness of multiple classes of business is desirable but not essential.
    • Good understanding of Facilities (Binding Authority, Lineslips) and Proportional + Non-Proportional Reinsurance.
    • Excellent communication skills - written and verbal.
    • Good analytical capabilities
    • Able to prioritise, manage deadlines and work under pressure.
    • Operates with a sense of urgency and client first attitude at all times.
    • Excellent attention to detail.
    • Good technical skills.
    • Good communication, negotiation, and adaptive interpersonal skills.
    • Must be prepared to work with integrity and openness, complying at all times with FCA requirements.
    • Good IT skills with excellent MS Word capabilities
      Willis Towers Watson is an equal opportunity employer.

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