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Head of Insurance

Summary

Salary
£Competitive
Team
Finance
Location
Malmesbury - United Kingdom

Description

Insurance touches almost every part of Dyson globally, whether it is cover for business interruption / loss across our production, retail or IT estate; or liability cover for all the Group’s various activities.  As a result, this role should be at the forefront of business change, ensuring appropriate consideration of insurance as a key response to Dyson’s major risks.  Reporting to the Director of Internal Audit and Risk, this role will be the Group’s subject matter expert on the technical aspects of those insurances purchased, as well as the lead on evaluating the extent, value and quality of risk transfer as a solution to key Group risks to which the business is exposed. This role is autonomous but works closely alongside colleagues from the wider Internal Audit & Risk team, with some support from shared administrative resource.

Accountabilities

  • Being the Group’s subject matter expert on and point of contact for the global insurance programme, including detailed understanding and efficient management of:
    • The annual renewal process;
    • The collection and upkeep of accurate and detailed risk and underwriting information;
    • Contractual liabilities agreed to and imposed on others, ensuring they align with our risk culture and insurance program; 
    • Scoping of new and enhanced coverage; and 
    • Notification, investigation and negotiation of claims settlement on both a direct and indirect basis, including below deductible losses.
  • Continually challenging and evolving the insurance programme to ensure it is fit for purpose for the size, scale, aspirations and nature of the Dyson Group. 
  • Understanding business process, challenges and plans across the Dyson business, building relationships at Executive / senior management level to ensure the impact and likelihood of all present and future insurable risks are modelled, enabling informed decisions on insurance purchase to be made.
  • Hosting, creating, maintaining and distributing guidance and training to support the business in all aspects of insurance, empowering colleagues to make informed decisions on insurance and risk related matters.
  • Managing the Group’s relationship with its brokers and assessment of their performance, ensuring that Dyson receives the level and quality of advice and support appropriate for its needs and that it represents value for money.
  • Dealing with certain insurers on a direct basis, critiquing quality of coverage / wording, pricing and claims processes; and building deep long term working relationships with underwriters, risk engineers et al. 
  • Structuring the insurance program (i.e. deductible and limits) to provide best value for money and align to the risks, and severity of events, to which the Group is most exposed.
  • Ownership of the insurance budget and ensuring its position can be reported when required. 
  • Reporting of the insurance program, budget, claims and ongoing insurance related projects to the CFO, Board, Risk and Audit Committees.
  • Creation and promotion of sound supply chain risk management practices (as it pertains to the insurance programme), including implementation of physical and behavioural risk recommendations and post event loss mitigation strategies.
  • Responding on a timely basis to ad-hoc queries from the business.

Skills

QUALIFICATIONS
  • Educated to degree level or equivalent from a recognised institution
  • Relevant insurance qualification e.g. ACII or equivalent

KEY COMPETENCIES
  • Demonstrates the highest levels of integrity and confidentiality at all times
  • Demonstrable in-depth technical knowledge of commercial insurance policy terms and conditions
  • Ability to work autonomously to deliver high quality results
  • Pragmatic and commercial approach to risk management
  • Drive to understand all aspects of the operations of Dyson Group globally
  • Ability to communicate complex issues in a simple and effective way with attention to detail
  • Ability to develop effective relationships across all areas of the business and with third parties
  • Project management, particularly in the context of arranging new/enhanced cover; procurement of services from brokers and direct insurers; and renewal 
  • Willingness and ability to travel internationally where required

ESSENTIAL EXPERIENCE
  • Large international consumer products business
  • Working with brokers and / or insurers on global complex programmes
  • Direct claims advocacy
  • Demonstrable experience in the placement and / or management of the following insurance classes:
    • General / Products Liability
    • Product Recall & Warranty 
    • Property Damage & Business Interruption, inclusive of a large number of significant owned and multi-tiered supply chain premises
    • Large Natural Catastrophe cover (including liaison with the re-insurance market)
    • Cyber

DESIRABLE EXPERIENCE
  • Corporate risk management 
  • Demonstrable experience in the placement and / or management of the following insurance classes:
    • Non Damage Business Interruption
    • Marine Cargo
    • Directors & Officers Liability
    • Trade Credit
    • Employee Health & Benefits

Benefits

  • 27 days holiday plus eight statutory bank holidays
  • Pension scheme
  • Performance related bonus
  • Life assurance
  • Sport centre
  • Free on-site parking
  • Subsidised café and restaurants
  • Discounts on Dyson machines