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Head of Pricing - Crisis Management

London, United Kingdom
Competitive Salary
Closing date
Feb 13, 2024

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Job Role
Commercial Finance Manager
Contract Type
Full Time
Job Type:

Build a brilliant future with Hiscox

About the team/division:

Hiscox London Market has an exciting future. Leading out Pricing team embedded within the Crisis Management division, you will be working with underwriters from Terrorism, Kidnap & Ransom, Product Recall, Personal Accident and Fine Art to influence and inform key business decisions, and divisional strategy.

The Crisis Management division is global with teams based across London, Guernsey and across the US, and incorporates business formerly written through our Special Risks business unit. Across the division, we plan to write c. $350m of Gross Written Premium for a planned profit of c. $30-50m. In addition to external brokers, business is written through a variety of Hiscox owned distribution channels including a syndicate, an insurance company, broker, and various MGAs.

The role

As Head of Pricing, you will be part of the Crisis Management Leadership team, and will understand and monitor the financial performance across the whole division, in addition to driving projects across all classes. Working with the Divisional Director and Line Underwriters, you will influence underwriting decisions across the division with the objective of increasing net underwriting profit.

Each line of business within the division is an established market leader in its respective field; combining this with the support of our Crisis Management consultants, Control Risks, across the division, we are able to provide an unparalleled service to our clients, and have developed a deep understanding of our exposures.

We are looking for an ambitious, innovative and commercial individual who can take ownership, work independently and thrive on ambiguity. We want an individual with a high level of technical expertise, who can work around a problem and communicate effectively to a wide range of stakeholders, speaking in a language they can understand and relate to. You will need to be able to find solutions to problems where there isn’t an established approach, think on your feet, influence other decision makers and collaborate across multiple teams. You should also be inquisitive, eager to learn and passionate about making a difference and adding value to the team. The role is what we could class as ‘front line’ and working side by side with the Underwriters and Divisional Director.

What you’ll be doing as a Head of Pricing:

Co-ordinating analytical support for the underwriters, divisional director, senior management through portfolio analysis and large risk pricing. Discussing this in regular meetings to create a common understanding of performance with the underwriters and come up with ideas to improve the book.
Taking a holistic role approach to the role, capturing all elements of profitability - from reviewing individual accounts, overall portfolio and exposure management, reviewing reinsurance to reviewing operational efficiencies across the division. You will form an understanding and review all aspect of the division that influence profitability.
Managing the three members of the Crisis Management pricing team- creating projects to devise value, allocating this amongst team members, and ultimately driving the divisional P&L. Creating an engaging and invigorating environment for the team to thrive.
Leading project work in collaboration with other teams e.g. Change team, MI, Finance, Control risks. Provide regular updates on progress, challenges and opportunities to all stakeholders as appropriate. Build a broad understanding of business issues, taking into account views from across these functions and using the information to provide an independent view of key UW decisions and to solve new business problems as they arise.
Leading the transformation of Pricing models within Crisis Management to make them automated, user-friendly and technically correct so that they become a benchmark for best-practice for all open market classes across London Market. Investigate the use of large data sets and exploring around the subject to glean competitive advantage e.g. data provided by Control Risks.
Become the key point of contact for day-to-day queries across the division, and be a trusted business partner to each of our offices across the world.
Working with Finance to understand the drivers of the P&L, communicating this to wider stakeholders and providing high quality pricing analysis to help assess the expected profitability of new opportunities.
Clearly and concisely communicating complex issues to a wide variety of stakeholders

Our must-haves:

Educated to degree level with numerate emphasis
Experienced analytical background with work experience in the London Market
Innovative, entrepreneurial and have the ability to give structure to previously unsolved problems.
Superb Excel skills and basic knowledge of SQL.
Excellent communicator to a wide range of audiences (both technical and non-technical)
Speak and write fluent business English

Our nice-to-haves:

Actuarial qualification
Basic knowledge of some coding software

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.

This role is a certified role under the senior manager regime.

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

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