Senior Product Development Specialist, Commercial Insurance, COG

Job Description Do you have experience of developing and launching new commercial insurance products within and underwriting or legal environment?

If you are interested in developing your skills and career within one of the largest commercial insurers in the world, then we would love to hear from you!

This role would suit a candidate from an underwriting, legal or claims background with a strong technical skillset and prior experience in managing and drafting policy language.

This is a unique position held within the Commercial Insurance division of Chubb Overseas General to lead Product Development, reporting directly to the EVP, Head of Commercial Insurance. You will be responsible for continuously developing and reviewing the suite of core template policy wordings to maintain their competitive advantage. You will also be responsible for assisting the COG regions in localising and implementing these wordings as well as reviewing and signing off key changes to wordings and endorsements, to identify deviations against our Chubb preferred coverage and language.

We are open to discuss flexible working options. The successful candidate will be based in the London office but there will be flexibility to work from other COG offices globally on occasion with management consent. There is also the possibility of travel to other COG regions where required.

Key Responsibilities

• Development of standard Chubb template wordings and endorsements, including scheme and bespoke wordings, clause banks, policy format and presentation layout.
• Leading product development for small commercial and middle market segments, with an emphasis on building new Package and industry specialized products
• To review, negotiate, and achieve agreement to insurance documentation.
• Review all scheme and broker “initiative” policy forms in conjunction with the COG regions.

Keep abreast of market wording developments.

• Working with COG regions to localise wordings and endorsements.
• Taking referrals from COG regions to sign off deviations to Chubb standard wordings and endorsements.
• Dealing with ad-hoc requests from COG regions in relation to wording and coverage issues
• To maintain records and reports relating to wording matters, including diary of outstanding issues.
• To negotiate and liaise with brokers, other underwriting staff and Chubb employees, where required.
• To provide training to underwriters on wording related issues where required.
• To assist in the maintenance of the central wording’s repository.
• Involvement in ad hoc information requests / projects related to the relevant bank of wordings.
• To work within the framework of Chubb ethical and service standards.
• To represent Chubb at Industry Associations including as the IUA / LUG.

Qualifications

• Significant experience of a technical nature is required with product line bias.
• Experience of coaching others.
• ACII or progression towards ACII is preferred.
• In-depth knowledge of policy wordings and clear grasp of the challenges posed by market uncertainty and possible litigation from unclear language drafting.
• Knowledge of insurance business, markets, and general insurance related terminology
• Knowledge of law and ability to check sound legally approved policy forms and communicate them to underwriters.
• Strong communication skills and high attention to detail as the wording specialist individual will be responsible for articulating coverages, clauses and policy intent to brokers and underwriters.
• Understanding of clauses and terminology
• Uses clear language – is brief, precise, and straightforward.
• Ability to explain complex topics concisely.
• Ability to draft reports and plans for internal and external audiences

What do we offer in return? Pension and annual bonus scheme, 25 days annual leave plus ability to purchase 5 additional days, Private Medical cover, Employee Share Purchase Plan, Life Assurance, Subsidised gym membership, Comprehensive Learning & development offerings, Employee Assistance program.

Integrity. Client focus. Respect. Excellence. Teamwork Our core values dictate how we live and work. We’re an ethical and honest company that’s wholly committed to its clients. A business that’s engaged in mutual trust and respect for its employees and partners. A place where colleagues perform at the highest levels. And a working environment that’s collaborative and supportive.

Diversity & Inclusion. At Chubb we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.

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