The Partnerships team is part of the larger Hiscox Re Underwriting function which reports to the Directors of Underwriting London and Bermuda. The team's key objective is to support the DOU's in enhancing our decision making and improving proportional reinsurance purchases, such that it creates capital resilience, a competitive advantage, allowing us to maximise profits for a given level of risk, or minimise risk for a given level of profits. At Hiscox collaboration is key to our company success and as such we work closely with the wider catastrophe modelling and capital management teams in order to gain a full understanding of underwriting risk across the group.
The Partnerships team is responsible for the placement of quota share reinsurance to align with business unit planning and group risk appetite. Reporting to the Head of MI and matrix reporting to the Underwriting Partnerships Manager this role works closely with underwriters, portfolio management and finance to support the review and selection of reinsurance options and is responsible for supporting the entire placement process.
The team's activities include:
Accessing business unit requirements and advising on products, markets and pricing
Production of marketing, budgeting and exposure reports
Production of detailed information submissions and regular updates to reinsurance partners
Managing relationships with brokers and markets
Advising purchase instructions and reporting on placement progress
Agreeing and recording coverage documentation
Tracking and reporting purchase details
Producing internal and external presentations
The Partnerships MI Analyst role covers two main areas of responsibility, one being the placement and administration of various reinsurance treaty programmes on behalf of Hiscox Re, Syndicates 33, 6104 and Hiscox Bermuda, the other is to develop and improve the systems used to store and the processes employed to extract data which is required for reinsurance placement and reporting purposes.
Reinsurance is a fundamental part of managing the amount of risk to which the group is exposed, the spend is sizable so small improvements can have a material impact on overall profitability. The role will involve working closely with many parts of the business affording a great opportunity to understand the detailed workings of a wide array of insurance and reinsurance lines from across the group.
Principal Duties and Responsibilities
Providing assistance with the planning and optimisation of their reinsurance cover
Working with the underwriting teams, in-house contract specialists and reinsurance brokers to produce underwriting submissions and reinsurance contracts suitable for the placement of Hiscox reinsurance programmes, this will include the extraction, compilation and assessment of underwriting data from a wide range of systems
Develop robust MI and reporting system for both communicating with partners and providing internal insights
Drive performance through crafting and managing regular reporting cycle, including relevant exec-level insights
Working closely with the underwriting risk analysis team to ensure consistency of information and the appropriateness of how it is used
Build and manage relationships with Hiscox reinsurance brokers and reinsurance counterparties
Support the placement, execution and administration of specific reinsurance programmes from planning / budgeting to post placement handover to the Reinsurance Operations team
Record, manage and report on counter party exposure
Develop deep understanding of available data, and use visualisation to turn these into actions
Person Specification: Who are we?
Hiscox Re & ILS is the reinsurance and insurance-linked strategy (ILS) business unit within Hiscox Group. Our team of circa 150 curious and collaborative individuals are committed to providing top quality service to brokers, clients, quota share partners and ILS investors through an innovative range of reinsurance products and third-party capital opportunities.
Our focused and discerning underwriting approach is complemented by a commitment to world-class service, and the ability to offer creative solutions to complex problems. We know our people are our biggest asset so finding and retaining top talent is crucial for every role. Find out more at www.hiscoxre.com.
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
Be unique. Be authentic. However you prefer to say it, we really mean it. Our culture
embraces people’s diverse perspectives and creates a positive environment where everyone
belongs. We’re determined to build a better, more connected world for everyone.