LM HPS Claims and Insights Manager

Job Type:

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Role Profile

Title: LM HPS (Hiscox Portfolio Solutions) Claims and Insights Manager

Direct reporting line: Head of Claims LM

Location:  London

The Role

The Hiscox Portfolio Solutions (HPS) Claims and Insights Manager is a unique new opportunity to manage a modern and forward-looking book 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 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 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 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

• Liaising with Claims Operations to ensure claims data is readily available.
• Review claims data to create insight into HPS books of business. Identifying claims trends and activity that might require further investigation.
• Liaising with Reserving and Underwriting to review HPS books of business to ensure the claims reality of the books are well understood in order to allow underwriting remediation or a change of reserving assumptions.
• An ability to liaise with senior stakeholders both inside and out of Hiscox.
• For lead business:
  • work with underwriters to understand the business and its claims requirements.
  • Where lead business is written, claims will be handled by the existing Non-HPS claims teams. However, this role will need to, prior to placement, liaise with appropriate claims managers to ensure claims can be serviced with appropriate forward-looking business planning or delegated arrangements.
  •  Oversee, reserve and report on claims reported within HPS.
• Be the Main Claims Contact for HPS.

Person specification

• You will be passionate about delivering an exceptional market leading claims insights.
• 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 and developing insights into 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.
• 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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