CFC

Cyber risk underwriting through MGA platform

Senior Product Developer - Wordings

Contract ManagementUpdated on Nov 13

Full-timeLondon, UKNo salary listedHybrid

About the Job

Requirements

Extensive expertise and experience developing insurance product wordings, or equivalent wordings experience; alternatively, contracts or product-development experience from claims, Fintech, or law.
Working knowledge of insurance product requirements and strong understanding of, and experience in, developing commercial or personal lines insurance products.
Ability to understand underwriter requirements from product-offering, customer, and broker-relationship perspectives and incorporate them into product development.
Ability to dissect complex issues, reach practical solutions, map complex coverage processes to establish underwriting intent, and articulate drafting rationale with reference to product development principles.
Accuracy and attention to detail in drafting policy wordings, endorsements, and ancillary documents of varying complexity.
Stakeholder management, communication, time-management, and organisational abilities.

Responsibilities

Create, maintain, and enhance specialist commercial insurance products across all lines of business, and support Underwriting and Claims teams with product-related enquiries.
Lead discussions to gather requirements for wording projects and recommend practical solutions aligned with drafting conventions and product development principles.
Draft product-related documents of all levels of complexity.
Provide technical drafting support to team members and guidance on drafting language for complex coverage scenarios.
Maintain version control and records for product documents.
Respond to product enquiries within prescribed timeframes and follow time-tracking processes.
Manage development and delivery of new product initiatives and product-version upgrades from initial concept through final release within prescribed timeframes.
Work with the systems development team to integrate new product initiatives and product-version upgrades into systems.
Manage communication between the Products team, Underwriting teams, and other business stakeholders regarding progress and release of new product initiatives and product-version upgrades.
Apply practical considerations relating to FCA Consumer Duty in product development, including best practices for incorporating them into technical wording discussions with underwriters.

The Products team plays a central role in developing and maintaining CFC’s insurance product offerings. The team’s core mission is to ensure that customers are placed at the forefront when drafting product language. We engage with stakeholders across the business to create, develop and upgrade our innovative and market first product lines. Within the dynamic and ever-changing world of product development, each day comes with a new intriguing challenge, and to continue supporting the growth of CFC and the product portfolio, we are looking for a Senior Product Developer to join the team.

We are looking for someone that has extensive expertise and experience with the development of insurance product wordings. Having impeccable technical drafting abilities and the experience to effectively lead and drive product development discussions with Underwriting teams are critical for this role.

As a Senior Product Developer you will take ownership of creating, maintaining and enhancing CFC's specialist commercial insurance products across all lines of business, whilst providing an excellent support service to the Underwriting and Claims teams on product related enquiries.

Lead discussions to gather requirements for wordings projects and recommend practical solutions that are aligned with CFC’s drafting conventions and product development principles.
Draft all product related documents of all levels of complexity.
Understand underwriter requirements from a product offering, customer and broker relationship standpoint and incorporate these into product development projects so that the final product output is representative of meeting these needs.
Provide support and assistance to technical drafting queries from other team members, and guidance on how to draft language to meet requirement of complex coverage scenarios.
Maintain intricate version control and records management for all product documents.
Ensure that product enquiries are responded to within the prescribed timeframe and that time tracking processes are appropriately followed.
Process management of the development and delivery of new product initiatives and product version upgrades from initial concept to final release within the prescribed timeframe.
Work with the systems development team to achieve successful system integration of new product initiatives and product version upgrades.
Relationship managing the communication between the Products team and Underwriting teams and other key stakeholders throughout the business in respect of the progress and release of new product initiatives and product version upgrades.
Apply practical considerations towards the FCA Consumer Duty into the product development process, taking into consideration best practices on how these are to be incorporated as part of technical wording discussions with underwriters.

We are looking for someone with Wordings experience in an equivalent role, or contracts/product development experience obtained from a background in claims, Fintech or law. You will have working knowledge of insurance product requirements and a strong understanding of, and experience in, developing commercial or personal lines insurance products.

As a subject matter expert on CFC's comprehensive product suite, you will be solutions-oriented in your approach, with the ability to dissect complex issues to reach practical solutions to present back to stakeholders. You will be able to clearly map out complex coverage processes to provide a simple means of establishing underwriting intent and be able to clearly articulate drafting rationale in reference to product development principles.

Outstanding accuracy and attention to detail are crucial in this role, which will be evident in your ability to accurately draft policy wordings, endorsements and ancillary documents of all levels of complexity. Stakeholder manager skills, paired with strong communication, time management and organisational abilities, will ensure the smooth end-to-end delivery of product initiatives.

About the Company

CFC

Cyber risk underwriting through MGA platform

CFC Underwriting is a specialist insurance provider operating as a managing general agent (MGA) that underwrites on behalf of a panel of carriers, focusing on emerging and specialty risks with a strong emphasis on cyber. It uses a proprietary global insurance platform powered by data science to streamline underwriting across a portfolio of 50+ products, including cyber and professional liability, with an in-house incident response team adding comprehensive cyber risk management. It differentiates itself through its early focus on cyber, large in-house claims and incident response capabilities, and a global broker-driven distribution model. Its goal is to deliver fast, precise underwriting and robust risk management for technology-related and other specialty risks worldwide.

Company size: 1,001-5,000
Company stage: Not listed
Total funding: Not listed
Headquarters: London, United Kingdom
Founded: 1999

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