Chris Oldfield joined Hiscox London Market’s flood team this summer as a Senior Underwriter. After 100 days in his new role, Chris shares his highlights, including the opportunity to meet new brokers and coverholders in person.
What was your career journey before Hiscox?
I worked in recruitment after leaving university, but several of my friends were working in insurance and spoke highly about the variety within the industry, the opportunities it offered, as well as the social aspect. So, I sensibly made the switch, initially working in an operational role in property binders before moving into underwriting on the flood side in 2018.
More recently, I felt it was time to move out of my comfort zone. When the opportunity to join Hiscox - a team I knew well as another leading presence in the flood space, and one that has by far the most sophisticated API offering in London - came up, it was a chance to work for a business that had already built a great reputation for developing innovative flood solutions and was looking to continue growing its flood offering.
How did the first few weeks go?
It was hectic! Although I’m a Senior Underwriter, you start from ground zero in terms of getting to know people and the systems, so it’s been a steep learning curve but an enjoyable one.
How does your Hiscox role compare with your previous job?
Hiscox underwrites a lot more primary flood cover compared to my previous role, which focused more on excess layers. So, it’s been good to see flood from a slightly different perspective. We also have an impressive API product that allows for excellent distribution of our flood product, FloodPlus, so I’ve spent a lot of time getting under the hood and learning how this works, recently spending a day in our York office meeting our Service Delivery team, who are responsible for keeping the gears in motion.
Has there been the opportunity to meet your clients in-person?
One of the advantages of working for Hiscox is that the business continues to prioritise the value of building in-person relationships with brokers and coverholders. In September, I flew with the team to Orlando and then on to Tampa and St. Petersburg in Florida to meet our coverholders. Afterwards, we travelled to San Diego for the WSIA conference. I was back in Florida two months later visiting our partners and have just booked my next trip to New York, Colorado, and California for February next year.
Is there a particular area of the flood business that you’re looking to grow?
The majority of our business is underwritten through our digital platform, FloodPlus, which has proved hugely successful over the last decade. However, we’re also looking to do more manual underwriting for flood risks in the US that fall outside the scope of FloodPlus. These could be single risks related to a residential or commercial property, or a schedule of properties brought to us by a broker.
For example, we recently had a major US fast-food franchise looking for a flood product they could offer to around 10,000 locations, so we’re working with them to create a suitable pricing approach - no easy feat given the size and scope of the insured.
Has there been a particular highlight in your first 100 days?
Apart from meeting new colleagues and getting out to meet our brokers and coverholders, I would say presenting the keynote speech on private flood and FloodPlus at a conference for one of our coverholders in Florida was a particular highlight. The event was held at the famous Don CeSar Hotel on St. Pete Beach and was a great opportunity to meet some of the US partners we work closely with.
How do you see the next 100 days unfolding?
We’re currently finishing off our strategy plan for 2026, and I’ve started the process of onboarding my first new coverholder. I’m excited to see this through from start to finish and look forward to growing that opportunity once they’re live.
I’ll also be reviewing and refining our prior-submit appetite with a view to growing the portion of our book that is underwritten by the team in London.
