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- Tasks: Draft and manage insurance policy wordings while ensuring compliance with legal standards.
- Company: City-based insurer offering a dynamic work environment.
- Benefits: Competitive salary up to £120,000 plus excellent benefits package.
- Other info: Collaborative culture with opportunities for professional growth.
- Why this job: Join a leading insurer and make a real impact on policy documentation.
- Qualifications: Experience in insurance wordings and strong understanding of contract law required.
The predicted salary is between 72000 - 84000 £ per year.
Tower Street Insurance Recruitment is currently working with a City Based Insurer to recruit an experienced Insurance Wordings Specialist. The ideal candidate will have MGA and Syndicate experience and, through collaboration with the compliance and underwriting teams, facilitate legal and regulatory compliance throughout the organisation's policy documentation.
Key Responsibilities:
- Draft, review, and manage insurance policy wordings, clauses, and endorsements to ensure legal and regulatory compliance while meeting key business needs.
- Collaborate with Underwriters to provide working advice, ensuring documents align with regulatory standards and market practice, and maintain a library of standard wordings.
- Create and upload policy wordings, clauses, and endorsements to reflect underwriting intent, regulatory requirements, and company standards.
- Ensure all policy language is legally and regulatorily compliant and that documentation aligns with binding authority agreements.
- Provide expert advice to underwriters and other departments on policy language, coverage, and potential risks.
- Work closely with underwriters, brokers, compliance, and claims departments to ensure consistent and accurate documentation.
- Monitor regulatory developments and market trends to inform policy drafting and advise on market practice.
Requirements:
- Ability to balance multiple priorities, by focusing on timely delivery of quality outputs.
- Deep understanding of insurance products, contract law, and the ability to interpret complex concepts.
- An understanding of the Lloyd’s/London Market insurance processes and practice.
- Proficient use of Microsoft Office and Business Intelligence tools, including Excel, Power BI etc.
- Proven experience in insurance wordings, contract drafting, or a legal/compliance environment.
Insurance Policy Wording Specialist in City of London employer: Tower Street Insurance Recruitment Limited
Contact Detail:
Tower Street Insurance Recruitment Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Insurance Policy Wording Specialist in City of London
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with policy wordings. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Show off your expertise! Prepare a portfolio showcasing your best work in drafting and reviewing policy wordings. This will not only impress potential employers but also give you confidence during interviews.
✨Tip Number 3
Stay updated on industry trends! Follow relevant news and regulatory changes in the insurance sector. Being knowledgeable about current events will help you stand out in interviews and discussions with hiring managers.
✨Tip Number 4
Apply through our website! We make it easy for you to find roles that match your skills. Plus, it shows you're serious about joining our team and helps us get to know you better right from the start.
We think you need these skills to ace Insurance Policy Wording Specialist in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Insurance Policy Wording Specialist role. Highlight your MGA and Syndicate experience, and don’t forget to showcase your collaboration skills with compliance and underwriting teams.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re the perfect fit for this role. Mention your expertise in drafting and managing insurance policy wordings and how you can help ensure legal compliance.
Showcase Your Technical Skills: Don’t shy away from mentioning your proficiency in Microsoft Office and Business Intelligence tools like Excel and Power BI. These skills are crucial for the role, so make them stand out in your application!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It’s the best way for us to receive your application and get you on our radar quickly!
How to prepare for a job interview at Tower Street Insurance Recruitment Limited
✨Know Your Stuff
Make sure you brush up on your knowledge of insurance products, contract law, and the specific requirements of the role. Familiarise yourself with the Lloyd’s/London Market processes, as this will show that you're serious about the position.
✨Showcase Your Collaboration Skills
Since the role involves working closely with underwriters, compliance, and claims departments, be ready to discuss examples of how you've successfully collaborated in the past. Highlight any experiences where you facilitated communication between teams to achieve a common goal.
✨Demonstrate Your Attention to Detail
As an Insurance Policy Wording Specialist, accuracy is key. Prepare to discuss how you ensure legal and regulatory compliance in your work. Bring examples of how you've managed policy documentation and maintained standards in previous roles.
✨Stay Updated on Trends
Keep an eye on current regulatory developments and market trends in the insurance industry. Being able to discuss recent changes or challenges in the market during your interview will demonstrate your proactive approach and commitment to staying informed.