Job Type:
Permanent
Build a brilliant future with Hiscox
About Hiscox UK
Hiscox UK is a leading brand in the insurance market, recognised as setting the standards others try to emulate. We consistently deliver strong growth and exceptional returns, recruiting only the very best and empowering them to deliver. We are known for insuring the homes of the rich and famous through to the most innovative technology companies. Our customers are diverse and unique and are only united by our ability to provide specialist insurance tailored to their needs.
The team and role
The UK Exposure Management team are a fundamental part of the Hiscox UK business driving analytics and business insight that drives the direction of portfolio management decisions. The UK Exposure Management team sits within a wider Portfolio Underwriting and Pricing function whose primary objective is to provide pricing and underwriting services across our UK retail business wait the aim of providing market leading risk selection and driving profitable growth across our portfolio. The team reports directly to the UK Chief Underwriting Officer and collaborates closely with the rest of Underwriting, Distribution, Operations, Marketing, Reserving and Finance.
In this role you’ll be someone who loves stakeholder management and knowing the who’s who as you’ll be networking and talking to the wider business, including Group Exposure Management, Heads of Underwriting, and our Chief Underwriting Officer. You’ll be comfortable presenting on technical subjects and making real data driven decisions to shape the wider underwriting portfolio aligned with business objectives.
As the Head of Exposure Management, you’ll be accountable for the reporting, monitoring and delivery of our exposure management strategy across a growing book of non-standard high net worth household, motor, SME commercial as well as specialty lines. The Head of Exposure Management plays a critical role supporting and influencing the strategic direction of the Hiscox UK portfolio as well as building exposure management capability and core skills within the UK business.
What you’ll be doing
1. Working with the Head of Portfolio Underwriting and Pricing to design and embed a framework of regular operating rhythm for exposure management reporting, analysis and decision making.
2. Being accountable for the development and maintenance of data pipelines to enable us to easier and accurately monitor exposure across all of our UK products in a robust and repeatable manner. This will include setting the best practice of minimum data standards required across the UK portfolio and working with key stakeholders in underwriting, distribution and operations to ensure a consistent approach to understanding, measuring and recording our exposures is adhered to.
3. Ensuring the accurate completion of our internal and external reporting requirements, including but not limited to UK exposure rollups across property and non-property perils to group exposure management teams, provision of datasets for reinsurance renewals and provision of property aggregation reporting for capital teams.
4. Working with the wider UK business to understand the impact of business written on the shape of our portfolio. Providing analysis on the bets we are taking, allowing us to maximise profits for a given level of risk, or minimise risk for a given level of profits.
5. Ownership of a suite of UK specific realistic disaster scenarios (RDS’s) including documentation and calculation of their potential losses. Embedding a regular framework to ensure RDS’s are reviewed and remain up to date. Working closely with group teams to ensure these are reflected in our internal capital model.
6. Developing strong relationships with underwriting managers and product heads, understanding how the risks in their areas are evolving and measured.
7. Being the key point of contact in the UK for exposure management. Acting as the gateway into group and other exposure management teams to understand the wider strategy and priorities for exposure management and translating these into a business unit specific approach and strategy. You will need to have exceptional communication and organisational skills and be comfortable in juggling conflicting priorities between senior stakeholders, building a strong relationship with them to enable you to influence and manage their expectations
8. Deputise for the Head of Portfolio Underwriting and Pricing within the team where required, including representation of the wider portfolio underwriting and pricing team in meetings with senior managers.
Candidate Profile
We are looking for an individual who is highly analytical, driven and detail orientated with a passion for excellent execution. You will need to be articulate and exhibit a track record of good decision-making skills, working under pressure and to tight deadlines, with an ability to quickly understand problems and create and implement solutions. As a Head of Exposure Management most important is an extremely good understanding of the nuances involved in performing detailed analytics combined with a strong commercial mindset. A fundamental part of this role is being a key point of communication into the wider UK Business representing the Exposure Management function.
Our must haves:
9. A very experienced underwriter with at least 5 years’ experience and proven track record of successful underwriting
10. A proven track record of being able to use data analysis to drive underwriting decisions at a portfolio level
11. Numerate and confident in data analysis tools such as Excel
12. Strong analytical pragmatic reasoning skills and an aptitude for innovative problem solving
13. Experience of working closely with senior stakeholders and an ability to build strong working relationships
14. Excellent communication skills with ability to articulate the complex to technical and non-technical audiences
15. Deadline oriented, hardworking, curious, passionate, enthusiastic and a self-starter
16. Good understanding of Commercial Lines and/or Personal Lines insurance through various distribution channels
Our nice to haves:
17. Seeking or attained relevant professional qualifications
18. Exposure/Catastrophe Research & Development skills
19. Previous experience of catastrophe modelling
20. Knowledge of Reinsurance structures, Capital Modelling and Risk.
Diversity and flexible working at Hiscox
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 also understand that working life doesn’t always have to be ‘nine to five’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
Work with amazing people and be part of a unique culture