Hiscox London Market is already recognised for its reputation within the delegated authority sector, with over half of the business’s gross written premium generated through third-party channels. To further strengthen this position, Hiscox will enhance its presence in both the delegated authority market and alternative risk solutions arena, by establishing a new division – Hiscox Portfolio Solutions.
The division will consist of four distinct but complementary teams:
- Alternative Risk – Written within Hiscox London Market since 2015, the team selectively backs world-class underwriting expertise targeting the most profitable segments of the market.
- Beta-Follow – Supporting select broker cross-class facilities to create a diversified portfolio of risk, with high indexation.
- Global MGA – Engaging with MGAs to provide strategic support to create a diversified portfolio of risk. This will involve a limited number of significant MGA relationships, utilising both Hiscox London Market and Hiscox’s Retail division.
- Structured Solutions – Focusing on multi-year and/or multi-line polices where traditional insurance solutions may not adequately meet a client’s individual needs.
The opportunity
The division builds on many of the existing skills the business has already developed, not least in alternative risk where Hiscox has been marketing a developed proposition for ten years. As the use of data and advanced analytics blends with more traditional underwriting skills, however, there are significant opportunities to deliver innovative insurance solutions in key areas where clients might be looking for alternatives to traditional risk transfer, as well as to support data-led delegated authorities where Hiscox can provide significant insurance capacity.
A blended skillset
To bring these four propositions to the market, Hiscox is building out its Hiscox Portfolio Solutions teams with a blend of both seasoned underwriters with expertise across multiple lines of business, and commercial actuaries who can offer the analytical expertise necessary to provide deep insight into portfolios; it’s a hybrid approach that harnesses the power of a diverse skillset to deliver market-leading results over the longer term.
Problem solvers needed
Whatever the skillset, Hiscox Portfolio Solutions is looking for natural business builders who enjoy working in a challenging, entrepreneurial environment, surrounded by experts in their relevant fields, where it’s all about solving problems for clients – problems that may not have been solved before – and coming up with holistic solutions.
By building uniquely talented teams, Hiscox Portfolio Solutions aims to offer clients and brokers a range of high-quality insurance propositions that cannot be accessed anywhere else in today’s fast-changing risk environment.
If you would like to find out more about the career opportunities at Hiscox Portfolio Solutions, go to Hiscox’s career page.