Andy Lewis

Hiscox's Lead Cyber Underwriter on why his perfect weekend includes a trip to see the Hammers and the dangers of "coverage creep" to his market.

What was your dream job as a child?

I was obsessed by sport as a kid and only saw myself playing football, golf or tennis for a living. When I was 18, I applied to study sports psychology at university but thought I'd take a year off first. I got a job as an assistant underwriter at AIG and found I really enjoyed the client interaction and going into Lloyd's.

I liked it so much I decided not to go to university. I spent six years at AIG, initially doing errors and omissions in the professions team before moving into tech, media and cyber. Before joining Hiscox in July 2018, I was at QBE for over four years running the London tech, media and cyber team.

I did manage to play semi-professional football for Basildon Town though, so didn't quite abandon my sporting ambitions. 

How would you describe your job to an elderly relative?

A few of my elderly relatives actually worked at Lloyd's so they understand what I do. My grandfather was a marine claims adjuster there. To those who don't know the market, I say I work with multinational companies to assess their IT risk and then come up with insurance solutions in case their systems are unavailable or suffer a data loss.

There is at times still a lack of understanding as to how to access cyber BI risk, which means you often find certain industries such as manufacturing being priced very competitively.

What is a typical working day for you?

The great thing about cyber risk is there isn't a typical day. We meet clients from almost any sector, from retail, to marine, to healthcare, and because it is such a developing market, the cover is always evolving. 

What do you see as the next big cyber risk?

There has been lots of "coverage creep" in relation to cyber business interruption (BI). There is at times still a lack of understanding as to how to access cyber BI risk, which means you often find certain industries, such as manufacturing, being priced very competitively. We have to find the right balance between coverage and capacity. We could learn a lesson from our property colleagues here. There haven't been too many cyber BI claims so far, but they will come.

We have to keep differentiating the London Market in terms of the additional services we provide so we're not simply competing on price.

Is London under threat as a leading market for cyber risk?

There's no doubt that London leads because we're more client focused and not as transactional as some other markets. But, while there are lots of new cyber insurance buyers, there are also lots of new local markets that can be very competitive on price.  We have to keep differentiating the London Market in terms of the additional services we provide so we're not simply competing on price.

What was the last film you saw?

I've got a seven-month old baby so it's been a while since I was at the cinema!

What’s your favourite book?

Unfortunately at the moment I don’t get a lot of free time, however Soldier Spy was the last good book I enjoyed. I also like the occasional autobiography on self-made success stories.

Describe your perfect weekend

I'm a season ticket holder at West Ham so it would involve seeing them play – and yes, I love the London Stadium, at least when we win. But doing something outdoors with my family and friends always makes for a great weekend.