Contract Wordings Analyst

Reinsurance Underwriting London, United Kingdom


  • Job Category:

    Reinsurance Underwriting

  • Location:

    London, United Kingdom

  • Job Type:

    Regular

  • Number of Openings:

    1

Description

Position at Tokio Marine HCC

   

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Job Title: Contract Wordings Analyst   

Reporting to: Contract Wordings Manager   

Position Type: Permanent  

Location: London, Fenchurch Street  

Role Type: Office based (5 days in London)  

   

   

Overview:  

Why Tokio Marine HCC?  

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.   

   

Job Purpose:   

  • To work with the Contract Wordings Manager supporting the Treaty Reinsurance and Outwards Reinsurance divisions.
  • To support and advise the Treaty Underwriters.
  • To maintain all contract documentation and risk related information.
  • To ensure compliance with legal and regulatory requirements.
  • To engage with the Underwriting Teams and share knowledge on Wordings related matters. 

   

Key Responsibilities:   

  • Reviewing, negotiating, and agreeing wording documentation.
  • Developing knowledge and expertise of dealing with Marine and Non-Marine Treaty Reinsurance.
  • To ensure that wordings documentation is reviewed, negotiated, and agreed in a timely and professional manner in accordance with best market practice, should it require specific agreement by TMHCC.
  • To protect the investment providers ensuring that unnecessary claims are not paid. Providing technical advice and assistance to Underwriters and Brokers in reviewing and drafting slips, wordings, clauses and endorsements.
  • Accountable to the Contract Wordings Manager and active Underwriters within the HCC Treaty Reinsurance Underwriting team with regard to the risk, ensuring the wordings are unambiguous, clear, fair and based on firm order terms.
  • To ensure wordings are reviewed in order to create a document which provides the cover intended and is based on the needs of the Underwriters. External responsibility to the broker/client to ensure that the wording represents the cover agreed with the Underwriter and that it is clear what risks are covered.
  • To carry out tasks required by the Wordings Team to a satisfactory standard.
  • To develop both the technical and personal skills required of an individual working within the London Market insurance industry.
  • To maintain up to date knowledge of market, legal and FCA requirements & guidelines so that wordings meet legal requirements.
  • To attend training courses necessary to attain skills required to carry out specific tasks and in order to increase general Reinsurance knowledge.
  • To deliver training and coaching to Team Members, Underwriters and Underwriting Assistants to improve Wordings knowledge and application.

   

Principle Accountabilities & Technical Capabilities:   

                      Ensuring the wording contains no ambiguity.  

                      Protecting the interest of TMHCC by paying attention to detail, developing an understanding of market practice and current market issues, and being able to maintain confidentiality.  

                      Managing the progress of such documentation.  

                      Maintaining ownership of those wordings rejected to the brokers until finally agreed.  

                      Liaising with other members of the Wordings team, Underwriters, Claims Adjusters on technical issues and Reinsurance support staff.   

                      To support regulatory compliance to ensure commerciality when decision making.  

                      To have a clear understanding of the TMHCC Treaty division’s risk appetite.  

                      To champion the company values and work in accordance with its organisational behaviours.  

                      To be aware of and comply with the relevant rules and regulations in relation to financial crime.  

                      Develop knowledge of Non-Marine Insurance and Reinsurance markets and wider market issues.  

                      Develop knowledge of the London and Company Markets, especially regarding TMHCC involvement of the Marine, Non-Marine Property, Accident and Health, and Engineering Reinsurance classes of business.  

   

Performance Objectives:    

  • Develop understanding and knowledge of market practices. 
  • To enhance the Treaty Reinsurance portfolio by utilising and training our AI solution.
  • Willingness to study towards market qualifications.

   

Skills and Experience Specification:  

Essential:  

  • The successful candidate must possess the skills to work closely with the Treaty Team and Reinsurance Underwriters, demonstrating confidentiality, accuracy, and energy.
  • The ability to foster and maintain business relationships must be evident from the individual’s personal style, generating credibility with the business and senior management.
  • A degree in English, History or a suitable subject.
  • Demonstrate competencies in: Microsoft Word, Excel, and Outlook.
  • Demonstrate good communication and interpersonal skills.
  • Demonstrate excellent verbal and written English.
  • Ability to work under pressure and additional hours during busy periods.
  • Good organisational skills.
  • Team Player.

   

   

Desirable:  

   

  • Law degree or legal experience which involves an element of reviewing and preparing legal contracts.
  • Insurance qualifications.

   

What We Offer  

   

 The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.  

   

The Tokio Marine HCC Group of companies is an equal opportunity employer.  Please visit www.tmhcc.com for more information about our companies.   

   

   

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