job description:
Role: Vice President, Portfolio Underwriting
Band: III
Location: Manhattan, NY but ANY Hiscox U.S. Location considered for Internal Applicants
Reporting To: Head of Professional Risks
Summary of Role
The VP of Portfolio Underwriting is a key position within Underwriting Management at Hiscox USA. The person in this role will work across distribution channels and lines of business to identify opportunities for more effective portfolio-level underwriting, particularly through digital enablement. This person will work closely with Practice Leaders and Product Heads to implement solutions to allow more efficient, technology-assisted underwriting. The underwriting focus is that of the entire Hiscox USA small business portfolio with a clear focus on the bottom line profit inclusive of expense. Success will be building a sustainable book of profitable business that runs efficiently within each line and distribution channel.
Responsibilities
- Own the coordination and execution of small business underwriting among Practice Leaders and Product Heads
- Define what small business and portfolio underwriting means for Hiscox USA, by industry, segment, line of business and distribution channel
- Define the portfolio underwriting strategy and improve underwriting efficiency by optimizing the operating model for small business accounts, with flexible expansion/contraction capabilities
- Lead “Zero Question Underwriting” efforts, including the use of third party data and insurtech opportunities to enhance portfolio underwriting while still maintaining underwriting rigor
- Collaborate with Product Heads and Practice Leaders to develop and deliver channel-agnostic small business underwriting within a harmonized framework
- Work with Underwriting Excellence and Hiscox US Compliance on assuring compliance with corporate and regulatory requirements
- Collaborate with Head of Training and Product Heads to develop and oversee portfolio underwriting tools for small business underwriters
Increase profitable production of small business through the broker channel- Focus on Professional Risks industry verticals and unlock synergy across Hiscox USA products, to ensure we maximize cross-sell and customer account value opportunities
- Investigate new and innovative methods of risk selection and exposure identification
- Improve renewal performance through optimization of auto-renewal rules and other profit retention strategies
- Collaborate with Underwriting Insights to identify underwriting rules and process changes to improve the customer experience and drive profitable growth
- Monitor book performance together with Product Heads, including rate monitoring, identify early warning signs and drive profit optimization, for defined small business segments
Help drive the implementation of the 2025 plan- Define tactical steps to facilitate successful delivery of the 2025 top and bottom-line targets, and develop a road map for implementation, with a focus on digital migration
- Engage with Mustang team to ensure the system maximizes our small business and portfolio underwriting capabilities
person specification:
Hiscox Values
At Hiscox our spirit is in Challenging Convention and everything we do is guided by our Values.
Courage: Dare to take a risk
Human: Clear, fair & inclusive
Ownership: Passionate, commercial & accountable
Integrity: Do the right thing, however hard
Connect: Together, build something better
What Hiscox USA Offers
- Competitive salary and bonus (based on personal & company performance)
- Comprehensive health insurance, Vision, Dental and FSA
- 401(k) with competitive company matching
- 24 Paid time off days
- 10 Paid Holidays
- Paid sabbaticals after 10 years of service
- Dynamic, creative and values-driven culture
- Modern and open office spaces, complimentary fruit and drinks
- Spirit of volunteerism, social responsibility and community involvement, including matching charitable donations for qualifying non-profits via our sister non-profit company, the Hiscox USA Foundation
About Hiscox
As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength – all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.
We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.
Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places. Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.
About Hiscox US
Hiscox USA was established in 2006 to focus primarily on the needs of small and middle market commercial clients, via both the broker and direct distribution channels and is today the fastest-growing business unit within the Hiscox Group.
Today, Hiscox USA has a talent force of about 420 employees mostly operating out of 6 major cities – New York, Atlanta, Dallas, Chicago, Los Angeles and San Francisco. Hiscox USA offers a broad portfolio of commercial products, including technology, cyber & data risk, multiple professional liability lines, media, entertainment, management liability, crime, kidnap & ransom, commercial property and terrorism.
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 wesupport flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
You can follow Hiscox on LinkedIn, Glassdoor and Instagram (@HiscoxInsurance)
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