Facilities Insurer Services Associate – Cyber
February 18, 2021
Global FINEX is part of Willis Towers Watson and is a division of Willis Towers Watson that acts as a knowledge base for Willis Towers Watson worldwide, with our teams of experts in Financial, Executive and Professional Risks providing specialist advice and services to our clients and associates
We have an exciting opportunity for an Insurer Services Associate to join the Regional FINEX Cyber team.
Based in Ipswich, this role is focused on delivering technical and operational excellence with day to day responsibility for the Cyber facilities to ensure compliance in accordance with terms and conditions set by Insurers.
Under the facilities arrangement, Insurers grant Willis Towers Watson a Binding Authority for Small/Midmarket Cyber Liability and Technology Professional Indemnity business and in doing so will outsource a range of services to the FINEX Cyber team which the insurer would ordinarily undertake in-house.
Candidates must have a minimum of five years Insurance broking industry experience, an extensive knowledge of the placement process, plus experience of liaising with Insurers. A keen eye for detail is required for checking accuracy and adherence to operational requirements under the delegated authority of the binder.
Previous working knowledge of facilities, and how they work would be preferred, but not essential.
This is an interesting and varied role and is a great opportunity for a talented individual who is ambitious, articulate, determined and keen to learn.
To assist with the day to day running of the FINEX Cyber Facilities:
- Experience of working with, adhering to processes and systems.
- Good communication, negotiation and influencing skills.
- Being the focal point for the designated facilities.
- Monitoring the facilities to ensure the FINEX Cyber Team complies with the facility terms and conditions throughout the placement process.
- Being able to operate with strict segregation of duties is essential to avoid conflicts of interests whilst working on behalf of Insurers
- Checking quotations have been generated within the scope of a pre-determined rating schedule
- Binding cover under a delegated underwriting authority, on behalf of Insurers at quoted terms provided to the prospective policyholders.
- Checking documentation production, mid-term adjustments, quotations, evidence of cover and certificates produced on behalf of Insurers.
- Ensure the Facility Operations Team issue the risks written and payment bordereaux to Insurers, in accordance with agreed timescales.
- Liaising with the Accounting and Settlement teams, with regards to outstanding Debt due to Insurers.
- Collation of aggregated (non-specific) statistics for business placed.
- Provision of information to the Insurer to enable them to provide regulatory compliance information.
- Quarterly and Annual performance statistics communicated to all participating insurers.
- Attending regular meetings with the facility insurers when required.
- To support the facilities renewal process in accordance with the timeframe, and as set out by the WTW Facilities team:
- Facilities to be renewed on or before expiry date.
- Facilities to be approved by appropriate persons / groups.
- Full market appraisal review completed every 3 years (or as required), with outcomes documented, and communicated.
- Skilled at building effective relationships at all levels.
- Ability to represent the practice and Willis Towers Watson with integrity and credibility.
Equal Opportunity Employer