Job Description
About Hiscox
Who are we?
Hiscox is an international specialist insurer and reinsurer. We provide market leading products and excellent service to individuals and businesses with unusual and often complicated insurance needs. A FTSE 250 company, we can trace our roots to the Lloyd’s market in 1901. We employ over 1,400 highly professional staff, have offices in 11 countries and customers all over the world.
In 2012 the Hiscox Group grew by 8% to £1,565.8 million gross written premiums. Despite the second most expensive storm on record for the industry - Superstorm Sandy, and record flood activity in the UK, Hiscox made a profit of £217.1 million and delivered a return on equity of 16.9%.
We cover reinsurance and insurance risks that range from marine, terrorism, aerospace, technology, media and professional indemnity through to high value personal insurance, such as homes and contents, fine art, luxury motor, and kidnap and ransom, and are market leaders in many of our chosen areas.
We are not a mass producer of insurance policies but focus on key areas of expertise and strength and we do business according to our core values of courage, quality, integrity, excellence and respect.
There are three main underwriting parts of the Group. Hiscox London Market, Hiscox UK and Europe, and Hiscox International:
Hiscox London Market underwrites mainly internationally traded business in the London Market – generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd’s.
Hiscox International includes operations in Bermuda and Guernsey and Hiscox USA offering a range of specialist insurance and reinsurance.
Hiscox UK and Hiscox Europe offers a range of specialist insurance for professionals and business customers, as well as high net worth individuals.
Our business philosophy
The best people
Any business is only as good as the people it employs, and we employ the best in the business. We empower our people to provide the type of insurance solutions which are often too complex for other insurance companies, and aim to provide our customers with a level of personal attention that standard insurers might not be able to.
We are committed to developing our staff through our graduate programme, mentoring, in-house and external training, and our professional approach to setting standards is best practice. We are also members of the Chartered Insurance Institute, which has a long history of championing professional standards within the industry, and many of our people have become – or are in the process of becoming – CII accredited.
The best clients
Hiscox has three vital questions for every risk - "Who is the insured? Who is the insured? Who is the insured?". Who we insure is as important as what we insure. Whatever the business, be it a global oil company or a one man professional practice, we are interested in the management and how the business is run. Our belief is that the good insured always pays too much, and the bad insured too little. By seeking out the good insureds and avoiding the bad, we are able to offer wide cover at reasonable premiums.
Innovation
All of our products have been designed with our customers’ specific needs in mind. Creative use of technology has also improved distribution and enabled us to respond even more quickly and effectively to our customers. Unlike many of our competitors, Hiscox really is an organisation that thrives on change.
The role
Working within Hiscox Private Client team this role will be responsible for developing our existing £1m GWP portfolio of high net worth clients to new levels. This will involve working in the Hiscox Private Client team of four to handle renewals and changes of existing clients together with handling new business opportunities primarily over the phone.
Working with our clients you will bring to life their expectation of superb service providing advice, expertise and professionalism.
Key responsibilities
To develop and enhance external and internal relationships, dealing with varied and wide ranging client contacts on a daily basis
To build relationships with clients where unprompted enquiries are facilitated, and develop and convert these
Handle new business enquiries over the phone that have been generated through Hiscox Direct or through other introducers.
Convert a minimum amount of GWP of business each year, as agreed with the line manager
Negotiate new business and renewal terms on our high net worth products
To support our Development Underwriters through the renewal process
To go the extra mile when dealing with challenging situations, raising the overall standards of operation
To monitor the overall performance of the book and ensure remedial action is taken to correct any performance issues
Person Specification
Preferably degree qualified with a minimum of 2 A levels at grade C or above, although this is not a pre-requisite for an experienced insurance professional
Able to demonstrate effective negotiation with all levels and types of client, and experience of having dealt with non-standard risks effectively
Able to conclude positive business deals
Extraordinary communication skills able to positively affect other people and to win business
Able to form strong relationships directly with our high net worth clients
Able to make appropriate decisions when dealing with complex technical issues and can justify decisions
Able to makes sound decisions even when facts are ambiguous and conflicting
Demonstrable drive and energy to move self and business forward
ACII qualification or close to completion
Strong market and competitor knowledge
Consistently demonstrates behaviours conducive to achieving both personal and team objectives, in line with the core values of Hiscox
Why Hiscox?
This is a fantastic opportunity to join Hiscox during a time of focused growth where you will have the remit to make a real difference.
Hiscox offers an environment where you are encouraged to grow with the team and this is an exciting time to be joining this fast growing organisation. There will be plenty of opportunity for on the job career development within a supportive environment.