Role: APC Sales and Development Underwriter
Location Lisbon
Reporting to: Gonçalo Baptista, Country Manager Portugal
Band I
Salary: tba
About Hiscox
Who are we?
Hiscox, a FTSE 250 company domiciled in Bermuda since 2006, is a leading specialist
insurer with a diverse portfolio of personal and commercial risks. With 100 years of
underwriting heritage, we now have more than 1,100 staff, with offices in 12 countries. In
2009, the Group controlled a gross premium income of £1,435.4 million with a pre-tax profit
of £320.6 million.
As a market leader in our chosen areas of business, we cover risks that range from marine,
terrorism, aerospace, technology, media and professional indemnity through to high value
personal insurance, such as homes and contents, fine art, bloodstock and kidnap and
ransom.
We are not a mass producer of insurance policies but focus on key areas of expertise and
strength. We specialise in protecting people with unusual and often complicated insurance
needs.
There are three main underwriting parts of the Group. Hiscox London Market, Hiscox UK and
Europe, and Hiscox International:
• Hiscox London Market underwrites mainly internationally traded business in the London
Market – generally large or complex business which needs to be shared with other insurers or
needs the international licences of Lloyd’s
• Hiscox International includes operations in Bermuda and Guernsey and Hiscox USA
offering a range of specialist insurance and reinsurance
• Hiscox UK and Hiscox Europe offers a range of specialist insurance for professionals and
business customers, as well as high net worth individuals.
2. Hiscox Europe
Hiscox Europe covers Belgium, France, Germany, the Netherlands, Spain and Portugal with
over 220 people – this includes, full time, part time and apprentices - working in our business.
As a business we generate sales of around 140€m per annum via two main products Art and
Private Client (high net worth private households, personal fine art and public and personal
collections) and Professional, Specialty and Commercial (professional liability for small to
medium sized businesses in the professional consulting arena and D&O products).
Over the last 12 months the Professional, Specialty and Commercial business has grown
significantly and is projected to grow aggressively over the next 2 years. Art and Private Client
rds
was the main part of our business and is still around 2/3 by turnover and this will reduce to
50% by 2011. Lat year we had a major review of our APC book to ensure its long term
profitability. In 2011 we are in a good position to build up our profitability from a good position
in the Spanish market.
Innovation
All of our products have been designed with our customers’ specific needs in mind. Creative
use of technology has also improved distribution and enabled us to respond even more
quickly and effectively to our customers. Unlike many of our competitors, Hiscox really is an
organisation that thrives on change.
Core products
Hiscox Assurances Services offers the following products:
Art & Private Clients (APC)
Private Client policies cover higher value homes, contents, fine art and valuables: an all risks
policy for contents from 150.000€ upwards. Claims paid on a new for old basis, with no limits
for fine art or sub-limits in case of theft or vandalism.
The Fine Art by Hiscox policy is designed for collectors with fine art collections in excess of
150.000 €. Fine Art by Hiscox is an All Risks policy which covers fine art collections worldwide
with no limits.
Hiscox provides risks and contingency policies for private clients, dealers and communities,
designed for cultural and commercial exhibitions, public and private art collections, art
dealers.
Professional Insurances
For liabilities that may arise over advice or recommendations made in a professional capacity.
Covering business consultants (e.g. management, organisation, HR, recruitment); marketing
and communication consultants (including PR and design); IT consultants; Travel agents;
Home Surveyors; as well as Directors & Officers liability, event organisers, materials and
equipments, musical instruments, and affinity groups.
For offices Hiscox offers an all risks policy which includes office equipment if it is accidentally
damaged, lost or stolen, liability and financial loss. This policy is targeted to the Services
sector.
Kidnap and Ransom
We cover individuals and companies against all forms of extortion and can protect your
assets from illegal demands and the consequential associated expenses.
Hiscox K&R policy gives our client access to the services of Control Risks, response
consultant, in the event of kidnap, illegal detention, extortion or hijack like piracy act.
Hiscox Portugal
Hiscox has been in Portugal for eight years and we opened our first office in 2006 with one
underwriter focusing on the Art and Private Clients business. We have now around 40 staff,
that include a shared services centre that supports other Hiscox offices.
Introduction to the role
The role Sales and Development Underwriter, APC is an interesting one: combining client
facing relations and business development skills with good technical underwriting to make a
stretching and interesting role. You will probably spend around 50% of your time working with
our brokers. Our style is to have a small number of brokers and get to know their needs, and
the needs of their clients, and provide excellent customer service to meet these needs.
Key responsibilities
Underwriting
• Develop strong commercial relationships with brokers through underwriting visits and
regular day-to-day contact in order to underwrite commercially viable APC risks.
• To construct and implement a programme of Broker/ client relationship management
activities and events to maintain and win quality business
• Develop and maintain a network of current and prospective clients to win new and
repeat business and further enhance the reputation of Hiscox in the market as an
innovative and cost effective Underwriter
• Contribute to and implement the Portuguese annual business plan and ensure that it
is effectively communicated and delivered to our clients
• Provide support for the development of new products
• Represent Hiscox within the portuguese insurance industry and clients groups to
promote the reputation of Hiscox
• Understand the underwriting policies, targets and authority limits.
• Produce management information reports for the Underwriting Team
Key requirements
Qualifications
• Ideally a graduate
• Experience of working in an underwriting or broking capacity in the Art and Private
Household. Experienced underwriters from other specialisms wishing to cross train
will also be considered.
• Already have a strong network of business partners and an excellent profile within the
insurance market
• Be technically competent and able to underwrite technical and complex risks after
training
Communication and Influence skills
• Well rounded Interpersonal skills and able to influence peers, managers and clients
• Sales skills, or be able to demonstrate the potential to acquire sales skills
• Must have excellent communication written skills. It is essential that you are confident
and competent to conduct business by telephone and email.
• Underwriting is both an art and a science – you will need to be confident that your
maths skills can contribute to effective commercial underwriting
• You will need to read and write Portuguese and English to a high standard. English is
are internal business language and you will need this to take part in out internal
meetings and training events. Training can be given to improve your capability.
• You will be, at least, intermediate standard for the Microsoft office suite – ppt, excel
and word.
• Excellent telephone manner and inter-personal skills to develop close rapport with our
broker supporters
• Team player, who is able to use initiative
Organisation
• High standard of personal organisation with some project management skills
• Have an eye for detail and be highly focused on producing high quality work that is
“right first time”
• To work quickly and accurately and to consistently show the Hiscox “going the extra
km” dedication and commitment in a fast growing and demanding area of the
business.
Travel
After an intensive induction period you should be prepared to spend around 2-3 days per
week visiting and working with our brokers around Portugal. Travel around Portugal will be
approximately 20% of your time.
Career Progression
In the earlier stages of your career at Hiscox, success will be rewarded by organic growth of
your role and writing more complex cases.
In the longer term your career will depends on you and the growth of our business. You could
develop into an APC underwriting Manager or become a European APC specialist.
Internal
Interviews will be with
Gonçalo Baptista, Country Managers for Portugal
Robert Bowler, Head of HR for Europe
Two further European Managers
We use psychometric tests as part of our selection procedure
The intention would be to hold interviews on the same day to reduce time delays. Some
interviews may be held by VC.
All offers are subject to references