Senior Wording Specialist - MGA/ DUA

 Not Specified
 Not Specified
 Sunday, May 31, 2020

Company Information

Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Target Openings


Job Description Summary

We have a new exciting opportunity for a Senior Wording Specialist to support our MGA and DUA business. You will work with business unit leaders and the Head of Product Development to manage and draft our MGA and DUA insurance contract wordings, as well as reviewing and developing sound technical underwriting standards.

We aim to offer an inclusive and flexible approach to how and when you work, as well as good work-life benefits. We are happy to discuss all types of flexible working with you, when you join us for your interview. While we may not be able to accommodate exactly what you want, we are always open to having the conversation.

Primary Job Duties & Responsibilities

Be Committed, Be Connected, Be Creative and Be Energised - these are the values we are passionate about. Understanding and embracing our values will shape your success and contribute to making this a great place to work. The following key activities form a core part of your role;

  • Policy Wordings and MGA/DUA agreement contracts:
  • Manage and undertake policy wording development and control across all lines of business ensuring TRV Wordings are robust and accurately drafted.
  • Maintain a review of wordings ensuring that the status of outstanding wordings is known at any time and that the appropriate steps are taken to chase any overdue wordings in a timely fashion.
  • To liaise with underwriters and brokers to ensure that slips and wordings meet pre-bind quality assurance before inception.
  • Manage and facilitate, the amendment and drafting of policy wordings to ensure compliance with underwriters intended depth and breadth of coverage.
  • Report wordings and documentation issues to underwriters/Manager on an exception basis so that underwriters are aware of the issues and can act accordingly.
  • Build and maintain relationships with brokers/underwriters so that wordings and documentation issues are resolved quickly and to the satisfaction of all parties.
  • To ensure consistency and integrity within wordings is maintained.
  • Work with the Delegated Authority Coordinator to ensure appropriate wording of Binding/TPA Agreements themselves and accompanying Certificates.
  • To review and advise on TSM and TICL outwards reinsurance wordings in conjunction with the purchasing underwriter and the Outwards Reinsurance Manager.
  • Technical.
  • Manage and execute Technical projects relating to issues that impact the Company's underwriting operations including:
  • Monitoring & reviewing corporate appetite, Policy coverage, the legal, regulatory and statutory (where relevant) environment, industry developments & claims trends.
  • Define, develop European Underwriting positions and guidelines.
  • Establish (or oversee) corporate underwriting appetite to ensure constancy across Europe.
  • Emerging Issues.
  • Identify trends and opportunities. Perform research, develop strategies and act as resource for Risk Committee and Senior Management.
  • Liaison with US parent in respect of emerging issues, corporate underwriting stance, coverage and product development.
  • Represent the Company at relevant industry seminars and other forums to assimilate changes that represent opportunities or threats for the Company's underwriting operations.
  • Act as a technical reference point for underwriting business units and provide clarity, advice on technical issues.
  • Product Development.
  • Actively participate in Product Development (both new and existing) providing technical expertise, input and guidance.
  • For both new and existing Product Development, undertake, manage and facilitate policy wording development and control (ensuring wordings are robust, accurately drafted and maintain commonality, where appropriate).
  • Technical Training.
  • Assist in respect of development /provision & maintenance of Technical Training materials particularly in respect of compliance with Lloyds Market reform initiatives and respond as appropriate to claims trends, technical issues and industry requirements.
  • Other Duties.
  • Ensure that effective recruitment, retention and succession planning is in place and that all staff training and development needs are identified, acted upon and documented.
  • Achieving the annually agreed performance objectives.

To be successful you will need to consistently deliver a great experience in every customer contact; connect with the right partners internally to find creative solutions to problems; be a role model and behave in a way that actively supports an inclusive work environment; and consistently deliver on your commitments.

Minimum Qualifications

    Experience drafting underwriting policy wordings.

    Experience managing projects.

    Education, Work Experience, & Knowledge

    • Previous exposure of London Market systems/processes beneficial.
    • Educated to degree standard.
    • Relevant experience gained working within the Company or Lloyds market.
    • Relevant work experience gained within any of the following Property, Marine Classes, Aviation, Power and Utilities, Professional Risks or Personal Lines particularly Accident & Travel (from either an Underwriting or Claims perspective preferably with a legal bias).

    Job Specific Technical Skills & Competencies

    • Leadership
    • Consistently sets clear direction by defining goals and priorities
    • .
    • Develops a high degree of trust through demonstrated persona integrity ethics and a commitment to doing the right thing
    • .
    • Energises others to commit to achieving the highest standards
    • .
    • Consistently demonstrates ability to influence and leverage behaviour for the benefit of the company
    • .
    • Must have the ability to lead in a way that demonstrates passion and a sense of urgency and he/she will be capable of garnering the respect of both his/her, peers and senior leaders. The successful candidate will demonstrate the maturity, judgment, sensitivity and competence necessary to operate in a matrix organization.
    • Skills & Abilities
    • Strong attention to detail & accuracy, coupled with excellent analytical & problem solving skills.
    • Acts with a sense of urgency
    • .
    • Works effectively with all levels and can build new relationships.
    • Effectively coaches and monitors employees at all levels
    • .
    • Takes responsibility for decisions and actions
    • .
    • Manages own work
    • .
    • Understands the business and responses to all related issues, concerns and problems.

    Environmental / Work Schedules / Other

    • Requires some travel

    Equal Employment Opportunity Statement

    Travelers is an equal opportunity employer.