2026-11-03 · Source: Insurance Business US
Summary in 3 Points • Hiscox has reduced broker turnaround times by approximately 75% in terrorism and architects and engineers lines. • The insurer reported a 9.9% growth in London Market insurance contract written premiums, reaching $1.05 billion. • Hiscox's ILS business has seen assets under management grow to a record $3.1 billion as of October 1, 2026. --- Hiscox has successfully cut broker turnaround times by around 75% in its terrorism and architects and engineers lines, enhancing efficiency and improving quote-to-bind ratios. The expansion of this AI-powered underwriting tool across its US retail business is expected to further streamline processes and boost conversion rates. Additionally, Hiscox London Market reported a 9.9% increase in insurance contract written premiums, reaching $1.05 billion, while the ILS business has seen significant growth, with assets under management doubling to $3.1 billion this year. The company's strategic shift includes pulling back from major property and upstream energy sectors, focusing instead on adjacent classes like technology errors and omissions and selective casualty lines. This deliberate cycle management reflects Hiscox's commitment to maintaining adequate returns. CEO Aki Hussain indicated that the company is on track to achieve 9% constant currency growth for the full year, supported by a change program expected to deliver $75 million in profit and loss benefits. Hiscox's AI-powered underwriting tool significantly improves efficiency in the quote-to-bind process, impacting the London Market's approach to delegated authority and binder business.
Hiscox's AI-powered underwriting tool significantly improves efficiency in the quote-to-bind process, impacting the London Market's approach to delegated authority and binder business.