Senior Coverage Specialist - Financial Lines Senior Coverage Specialist - Financial Lines …

Aon are currently recruiting a London based Financial Institutions’ Product Leader to join our Financial and Professional Services team, part of our Global Broking Centre.

The role is for a Financial Institutions’ Product Leader with strong technical knowledge and ability. Responsibility for providing advice to clients, Aon FI business leaders and other colleagues on products, coverage and placement design, new innovations and claims.  

The individual selected will be a member of the Financial and Professional Services’ Coverage Team and have a primary focus supporting Financial Institutions’ insurance broking in the Global Broking Centre.

About Aon

Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Aon is an equal opportunities employer.  Aon's recruitment and selection policy ensures the best possible skill mix of colleagues and the highest quality candidates are appointed using objective job-related criteria.

Global Broking Centre - London

The Global Broking Centre in London is an integral part of Aon’s global broking strategy. The GBC provides colleagues from across the Aon network with access to specialist brokers and client managers, dedicated client solutions and thought leadership, and significant global insurance capacity.

The GBC works with network colleagues to deliver market-leading solutions to Aon clients, creating a competitive advantage in our placement strategies worldwide.

The Coverage Team is headed by Ed Smerdon and is embedded in the Financial & Professional Services business of the GBC.  It has a thriving and dynamic team environment.

About the Role

As FI Product Specialist some of your key responsibilities will involve:  

• It will potentially be a high-profile role both within Aon and in the marketplace
• Working with Aon’s major FI clients (including banks, asset managers, insurance companies and other financial services companies) and Aon’s global FI business leaders on financial institutions’ insurance
• Innovating, designing and drafting new insurance products for financial institutions
• Focus would be on financial lines’ coverage for financial institutions (Crime, D&O, E&O, Cyber, PTL and EPL) but with opportunities to work on other classes bought by financial institutions
• Assisting in the negotiation of policy terms with the insurance market on behalf of FI clients
• As a Coverage Team member, you would participate in all team events and projects
• Supporting colleagues in the broking teams in tailoring wordings according to client needs in the light of prevailing law and regulation
• Assisting the Claims team with complex FI claims
• Liaising with the Claims team to reflect claims experience in products
• Training of the broking teams on significant financial institutions’ industry legal and regulatory issues impacting policy wordings and programme structures
• Engaging with corresponding teams in other regions to share know-how and best practices
• You will be responsible for working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company.

About you

As Financial Institutions’ product Leader and member of the Coverage Team, your skills and qualifications will ideally include: 

• Either an experienced technical broker or underwriter with extensive experience in FI insurance, or an Insurance lawyer (in private practice or insurance industry) with a specialism in financial institutions’ insurance, including experience of handling significant coverage negotiations in placing and/or in claims;
• Excellent legal drafting skills and verbal reasoning;
• Ability to engage the Aon business leaders, broking teams and client teams to convey complex information in an accessible way;
• Excellent understanding of London and international insurance market dynamics and core processes;
• Commercial awareness and the ability to consider clients’ demands and needs in the design and drafting of new insurance products;
• Experience of managing effective client relationships;
• Good analytical and problem-solving skills;
• Excellent interpersonal skills;
• Effective communication and presentation skills;
• Excellent understanding and application of compliance and FCA regulation;
• Ability to work well as part of a team;
• Demonstrate integrity and professionalism

Salary and Benefits

This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you can choose additional benefits, including healthcare, childcare vouchers and additional holiday.  We also offer tremendous potential with a growing worldwide organisation.

Our Colleague Experience

Every day, our colleagues make a difference, work with the best, own their potential, and value one another. Together, we share this one purpose: to empower economic and human possibility around the world. This unifying goal is at the heart of our identity, and it lives in everything we do. To learn more about our colleague experience, visit Aon Colleague Experience.

We’re happy to talk flexible working. If you need to flex your working pattern, Aon offers flexible and agile working policies and we’re happy to discuss options with you upon application