Underwriting

1

Here at Travelers, we have big ambitions! Travelers Europe are looking for a Senior Wordings and Technical Specialist to join our BSI Team! This is an excellent opportunity for an individual with experience in a similar role, or someone who has been involved in drafting wordings for Financial Lines Products and is eager to advance their career.

The Bond & Specialty Insurance (BSI) team provide a wide array of products catering to businesses of all sizes, including but not limited to Management Liability and Professional Indemnity, Financial Institutions and Cyber Insurance.

In this role you will:
- Work collaboratively with the Business Unit leaders, Chief Underwriting Officer BSI and Senior Legal Counsel.
- Be responsible for the management and drafting of wordings, which includes drafting of endorsements, new products, and updates to current product offerings.
- Ensure the integrity of insurance contracts.

Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.

This role may be eligible for a £2,500 new joiner referral bonus. If you are successfully referred by an employee at Travelers Europe, both you and the person who referred you could be eligible for this bonus.

What Will You Do?

Wordings:

• Manage and undertake policy wording development and control across all lines of BSI business ensuring TRV Wordings are robust and accurately drafted.
• Work with Underwriting Officers to ensure that review of forms (TRV policies, broker forms, and competitor) is completed and appropriate sign off is achieved.
• Collaborate with underwriters to ensure that slips and wordings meet pre-bind quality assurance before inception.
• Manage and facilitate, the amendment and drafting of endorsements to ensure compliance with underwriters intended depth and breadth of coverage.
• Report wordings and documentation issues to underwriters and Underwriting Officers on an exception basis so that underwriters are aware of the issues and can act accordingly.
• Build and maintain relationships with underwriters (and brokers as needed) 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.

Technical:

• Maintain awareness of corporate appetite, legal, regulatory and statutory frameworks, industry developments & claims trends that might impact policy coverage.
• Build and maintain a process and repository of approved forms and endorsements with records of appropriate sign off.
• Assist Underwriting Officers with research and strategy development as needed.
• 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 as needed.
• 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 with training of underwriting staff as needed with respect to policy forms.
• Perform other duties as assigned.

What Will Our Ideal Candidate Have?

Experience:

• 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 Financial Lines Products.

Skills and Abilities:

• 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, judgement, sensitivity and competence necessary to operate in a matrix organisation.
• 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 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.

What is a Must Have?

• Experience drafting underwriting policy wordings.
• Experience managing projects.