Underwriting Performance Lead

Job Type:

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Underwriting Performance Lead

Reporting to the Head of Underwriting Performance

London based – Hybrid working

About the Group Underwriting Performance team:

The Group Underwriting Performance team reports into the Group CUO and is reasonable for underwriting performance across the Hiscox Group. The team is accountable for supporting the business units in delivering the business plan and covers several key topics:

• Ensure the business plan is robust, including identifying key assumptions
• Measuring actuals vs expectations for key assumptions that drive GWP and Loss Ratio performance
• Supporting business units to deliver against the agreed plan
• Finding cross business unit opportunities and threats
• Supporting optimisation of the Group UW bet

This team works closely with the Business Unit underwriting management teams and other stakeholders to progress these goals with scope across the entire global portfolio of Hiscox ranging from small personal lines policies through to large catastrophe reinsurance deals.

The role:

Working for the Group CUO and reporting to the Head of Underwriting Performance, this is a senior role expected to lead analysis and engagement to deliver tangible results to the business. The role has a significant business partnering aspect with a need to truly understand what is driving the business result. The team is currently building out the underwriting performance framework and there will be an opportunity to contribute to the design and implementation of the processes, as well as running the processes once established.

Profile of a successful candidate:

• Deep technical expert – proven experience of applying insurance knowledge in multiple lines or markets who understands the possible underwriting strategies available to drive outcomes
• Commercial business expert – able to balance theory and practicality in the current market to make strategic decisions that drive tangible impact across a global insurer
• Self starter and leader – able to work independently to define a path forward where a process is not defined. Will include acting as a leader within stakeholder groups to build a movement with others
• Clear communicator – Able to engage with board and C-suite stakeholders, communicating complex concepts and problems concisely. Effective working with these groups to reach decisions.

Reasons to work in the team:

• Work across the entire Hiscox portfolio, gaining insight into the broader group
• Visibility with Group Exec and engagement with senior stakeholders
• Develop strategic skillset, balancing short and long term delivery
• Scope to pursue projects where candidate has strong interest

Core skillset

• Insurance knowledge, preferably in at least 2 or more markets that Hiscox operates in
• Ability to build networks with stakeholders at all levels, including business unit CUOs, that allows constructive challenge and engagement on technical topics
• Cool under pressure
• Highly organised, able to coordinate activity across teams
• Curious about the business and able to ask the right questions
• Detail orientated, able to go deep into an area
• Concise communicator
• Comfortable with an insurance P&L and standard underwriting analysis exhibits
• 7-10 years of experience (this is a guide only)

Example projects that the team work on:

• Deep dive on a specific line of business to understand profitability. Including review of reserving, underwriting and claims data. Review of underwriting strategy and recommendation of changes to deal with emerging risks.
• Cross-business unit project to generate incremental growth by reviewing current growth drivers against benchmarks and understanding root causes. Prioritizing highest value opportunities and supporting delivery.
• Reviewing annual business plan for loss ratio and GWP, identifying key assumptions and ensuring robust approach is in place. Communicating key moving pieces to executive audience.

Example profiles:

• Experienced underwriter who wants to stretch to strategic / portfolio view
• Pricing manager who wants broader experience, including non-technical aspects of underwriting
• Finance specialist (may have accounting background), with a drive to understand underwriting

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

 
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