Notice of Cancellation Specialist

Notice of Cancellation Specialist

AXA XL is an Equal Opportunity Employer.

Ipswich, United Kingdom

We invent the new to help the world move forward. Combining powerful analytics and deeper insights with bigger ideals and innovative solutions, we free up our clients’ potential, thereby fulfilling our own.

Following implementation of an industry-leading Notice of Cancellation process in September 2022, the operation is now fully embedded and adding significant value on behalf of UK&L Underwriting Teams. The successful candidate will support the Senior Notice of Cancellation Specialist at a critical time as we look to increase scope and further tighten controls on premium collection (holding brokers to contracted terms of trade) whilst demonstrating discretion to support clients where genuine reasons for premium payment delays occur.

The NOC operation plays a key role in improving broker service levels and thus improving revenue into the organization enabling positive P&L impact and mitigation against aged debt accumulation.

You will be based in our newly refurbished Ipswich office; however, we are excited to have implemented our Smart Working initiative offering a hybrid way of working, combining both remote and office working.

What you’ll be doing

What will your essential responsibilities include?

• Full understanding of the end-to-end NOC process and associated ‘rules of engagement.’ The successful candidate will contribute towards the evolution and documentation of an industry-leading service offering.
• Utilise reporting tools to identify risk, meeting defined criteria for NOC issuance (specified days past due date, presence of a relevant cancellation clause for non-payment within the Market Reform Control/slip and nil paid). The intention is to add subsequent premium instalments to the scope of the operation.
• Structured engagement and liaison with UK & Lloyd’s Underwriting Assistances regarding issuance and, where applicable, with the relevant UK & Lloyd’s Underwriter to ensure visibility of risks falling under the Underwriter’s remit where AXA XL have issued Notice of Cancellation. Also dialogue and management of expiring/expired NOC’s
• Creation, use of existing macros, of Notice of Cancellation letters for issuance to brokers by e-mail advising of AXA XL’s intent to cancel our participation should premium not be received within 30 days.
• Updating the Premium Accounting System (the-Frame for Syndicate business and Genius for company business) and internal NOC Monitor Tracker to reflect issuance (to include recording the date the NOC will expire) and uploading a copy of the NOC letter to the relevant document library.
• Monitoring and actioning requests from brokers in response to NOCs issued. These will typically be payment confirmation requesting the NOC is rescinded or a request for an extension where broker is not in receipt of client funds.
• Establishing and maintaining professional relationships and correspondence both internally and externally

You will report to (UK&L Credit Control & TQM Manager)

What you’ll bring

We’re looking for someone who has these abilities and skills:

Required

Skills and Abilities

:

• Effective communication skills in both verbal and written prose
• Sound organizational skills.
• Knowledge/experience of Microsoft Office applications
• Highly organized and able to work to tight deadlines.

Desired

Skills and Abilities

:

• Confidence to challenge the status quo.
• Analytical capabilities and the ability to identify process efficiency opportunities.
• Identify and execute opportunities for process automation.
• Industry knowledge. Understanding the risks AXA XL’s Underwriters write

What we offer

Inclusion

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender,…