At a Glance
- Tasks: Manage client onboarding and develop a centralised wordings library for insurance products.
- Company: Fortegra, a leader in non-life insurance with a focus on innovation.
- Benefits: Competitive salary, professional development, and opportunities for travel.
- Other info: Embrace new technology and enjoy excellent career growth opportunities.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: 4+ years in insurance, strong communication skills, and attention to detail.
The predicted salary is between 45000 - 55000 £ per year.
The Main Purpose Of The Role Is
To service various clients who distribute general/miscellaneous non-life insurance business.
- Main responsibilities include: -
- Developing and managing a centralised wordings library to ensure this is current both in terms of underwriting content as well as necessary regulatory and legal requirements.
- Managing the end-to-end client onboarding process, including due diligence.
- Supporting the production and review of product oversight and governance documentation.
- Working closely with external stakeholders, facilitate regular reviews and support with day-to-day queries.
- Supporting business change and implementation
- Familiarising yourself with the regulatory framework for which Fortegra operates in.
- Occasional travel may be required to support the responsibilities of the role.
The Current Portfolio Of General/miscellaneous Non-life Insurance Business Across UK And Europe Mainly Consists Of Schemes Writing The Following Product Categories Through Various Distribution Channels
- Automotive extended warranty contracts
- GAP insurance
- Cosmetic Protection Products
- Key Insurance
- Mis-fueling
- Roadside Assistance
- Motor Excess (including car hire excess)
- Domestic Appliance extended warranty
- Furniture Insurance (AD, structure, stains)
- Mobile/cell phone insurance (AD, theft, loss, screen protection)
- Pet Insurance
- Primary Job Functions
- Drafting/reviewing/approving policy wordings, IPID's and marketing material.
- Work with Legal and Compliance in the creation of documentation to meeting necessary legal and regulatory frameworks for each territory.
- Ensure onboarding activities are completed accurately and to agreed timescales.
Coordinate with internal stakeholders to identify any risks/issues with escalation, where necessary.
- Assist in the production of distributor Product Oversight and Governance (POG) documentation.
- Assist in managing client relationships during the onboarding and ongoing review process.
- Awareness of claims management processes and understanding of how partners administer business in line with policy terms and conditions.
- Assist in the handling of high-level complaints and commercial claim decisions, where appropriate.
- Support the Underwriting team to deliver and maintain a profitable and sustainable book of GI business through product oversight and documentation management.
- Build high levels of credibility and positive brand recognition for Fortegra.
- Liaise closely with colleagues and develop existing operations and partnerships, where appropriate.
- Embrace new technology, implementation of systems and processes and support file sharing and document storage.
- Adhere to regulatory approval processes, ensure Fortegra remains compliant at all times and complete CPD training as appropriate.
The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to the job.
They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.
Skills & Competencies Required
- 4+ years insurance industry experience.
- Good technical knowledge of insurance products (preferably warranty/consumer based), policy coverages, including the drafting of compliant wordings.
- Experience of regulatory bodies and guidelines gained in an insurance environment.
- Ability to liaise with internal stakeholders at all levels - confident in ability, willing to develop personal and business skill set, with strong commercial acumen.
- Excellent attention to detail and a meticulous eye for identifying inconsistencies or inaccuracies.
- Good communication skills, ability to read audience.
- Effective negotiation, presentation and project management skills.
- Trustworthy, loyal, honest with high integrity.
- Team player, confident in making business decisions.
- Results driven, motivated and takes responsibility for actions and results.
- Pro-active and willing to take on new challenges, with a continuous improvement mindset.
- Computer literate including Microsoft Outlook, Word, Excel and Power Point.
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Product Governance and Oversight employer: Fortegra
Fortegra is an exceptional employer that fosters a dynamic and inclusive work culture in the heart of London. With a strong emphasis on employee growth, we offer comprehensive training and development opportunities, ensuring our team members thrive in their careers. Our commitment to innovation in the insurance sector, combined with competitive benefits and a collaborative environment, makes Fortegra a rewarding place to work for those seeking meaningful contributions in the field of claims adjustment.
StudySmarter Expert Advice🤫
We think this is how you could land Product Governance and Oversight
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Fortegra). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Fortegra. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Product Governance and Oversight
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Fortegra.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Fortegra. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Fortegra
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Fortegra to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Fortegra, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Fortegra's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
