Job Description
Wordings Specialist
London, UK
Our Global Wordings team has an exciting opportunity for an ambitious and adaptable individual to join them as a Wordings Specialist. You will be an integral part of the team and the wider Legal department supporting the underwriting business across all product lines covering a wide variety of complex risks. You will have the opportunity to demonstrate your technical drafting skills and advisory services to the underwriters, their clients and brokers in order to provide a service differentiator for AXA XL.
What you’ll be doing
What will your essential responsibilities include?
- Analysing - reviewing our existing products, new products and those of our competitors, including analysis and explanation of individual clauses right through to entire product wordings, always with a focus on delivering a timely and commercial solution to any issue raised
- Creating & Innovating - working closely with key stakeholders to build new insurance products from scratch or refine or expand existing products, leading innovation for the AXA XL brand
- Teamwork - collaborating with colleagues across the Wordings team, the wider Legal Department and beyond (Claims, Compliance, Conduct Risk) in order to deliver on team goals, service delivery requirements and internal projects
- Training and Developing - sharing best practice solutions across the wider business and more junior wordings colleagues, delivering presentations to underwriting teams, providing pre-bind and post-bind technical wording advice
- Supporting underwriters in achieving underwriting discipline both through coverage analysis and offering robust and clear wording solutions and highlighting potential coverage exposure to emerging risks
- Governance and Contracts Certainty - the ability to ensure contract certainty and adhere to governance principles in reviewing, managing, and advising on contractual terms in accordance with underwriting, legal, risk, compliance and regulatory standards and requirements.
- Collaboration - working closely with key stakeholders to deliver a fast, efficient, and high-quality service to our internal underwriting partners always prioritizing the needs of our internal stakeholders. Keeping clear and regular communication with the underwriting teams, understanding their business, needs and demands is key.
You will report to a Wordings Manager.
What you’ll bring
We’re looking for someone who has these abilities and skills:
Required Skills And Abilities
- Ability to interpret and analyse (re)insurance clause and/or wording requests and to satisfy these by drafting your own (re)insurance clauses and wordings from scratch in a clear and robust manner (in English).
- Confidence to deliver your own wording solutions to underwriters, brokers and peers both in writing and face to face.
- A comprehensive understanding of what the business, legal and compliance needs are for individual insurance classes.
- An ability to plan and self-manage workload and work under pressure whilst adhering to deadlines and competing priorities.
- An ability to work both as part of a team and independently with little or no supervision and to exercise independent judgement.
- Demonstrable wordings experience and proven record of working in depth with (re)insurance wordings.
- Analytical and critical thinking, technical proficiency of the underwriting function and robust interpersonal skills.
- An ability to interrogate and explore complex and abstract concepts relevant to policy coverage.
- An understanding of how insurance products are constructed and perform in the real world.
Desired Skills And Abilities
- An in-depth understanding of standard clauses used in the market and class-specific wording structures.
- Experience in the use of contract analytics technology tools
- ACII or Legally qualified or working towards qualification
What we offer
Inclusion
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential.
It’s about helping one another — and our business — to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
- Robust support for Flexible Working Arrangements
- Enhanced family-friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.
Total Rewards
AXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.
We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society - are essential to our future. We’re committed to protecting and restoring nature - from mangrove forests to the bees in our backyard - by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day - the Global Day of Giving.
For more information, please see axaxl.com/sustainability.
Who we are
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.
How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
