LM HPS Claims and Delegated Manager

Hiscox · London

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The Role

The Hiscox Portfolio Solutions (HPS) Claims and Delegated Manager is a unique new opportunity to manage modern and forward-looking books of claims. HPS comprises new distribution methods of placement going from lead Lloyd’s business with bespoke claims solutions to fast follow books.

Working closely with the London Market Claims Leadership, London Market Claims teams and the Group Claims Team you will drive the continuous development and improvement of the London Market Hiscox Claims service and commitment to do what is right for our customers.

What is HPS?

This new division consists of four distinct but complementary teams:

• Alternative Risk – Written within Hiscox London Market since 2015, the team selectively backs a diverse range of underwriting expertise targeting new and developing profitable segments of the market.
• Beta-Follow – Supporting select broker cross-class follow facilities to create a diversified portfolio of risk operating through efficient underwriting and claims models.
• Global MGA – Engaging with MGAs to provide strategic multi class underwriting capacity 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 cannot meet a client’s individual needs.

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.

Principle Duties and Responsibilities

• Managing the portfolios of claims for both lead, follow and fully delegated books of business.
• Liaising with Claims Operations and the Claims Vendor team to ensure appropriate claims processing structures are in place to support an efficient claims operating model and that claims data is readily available.
• Review and understand claims data to be able to provide insights into HPS books of business at a portfolio level. This will include identifying claims trends and activity that might require further investigation or action.
• Liaising with Reserving and Underwriting to review HPS books of business to ensure the claims performance of the books are well understood in order to support changes in pricing assumptions, underwriting appetite or reserving assumptions.
• Engaging with third parties that are handling claims on behalf of Hiscox to better understand the claims performance and provide greater insights into areas that are not visible from the claims data.
• An ability to liaise with senior stakeholders both inside and outside of Hiscox.
• For lead business:
  • work with underwriters to understand the business and its claims requirements.
  • Where lead business is underwritten, claims will be handled by the existing Non-HPS claims teams. This role will need collaboration with the  claims managers to ensure claims can be serviced in those non-HPS claims team and appropriate business planning or delegated arrangements are in place.
• Be the Main Claims Contact for the business for the HPS Division.

Person specification

• You will be passionate about delivering an exceptional market leading claims solutions.
• Be open to new ideas and new ways of doing things while having a firm grounding in the controls around claims both from within Hiscox and Lloyd’s.
• Have experience of overseeing a portfolio of claims across multiple lines of insurance business including both first party and third party especially in the Lloyd’s market.
• A proven record in developing and driving oversight and an understanding of technical claims handling.
• Experience of managing and engaging with others (both internally and externally) who are handling claims on your behalf.
• Enthusiastic and a team player with good relationship and empathy skills.
• Excellent analytical, communication and influencing skills and an ability to take the lead on solving problems.
• Experience and understanding the significant of a reserving philosophy for the claim life cycle on both an individual and collective basis.
• Experience of using analytical techniques to interpret data and produce meaningful insights into claims issues.
   

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