Head of Casualty Exposure Management
Hiscox
York, UK
3d ago

Job Description :

Head of Casualty Exposure Management

York based with home working

A senior role reporting to our Director of Underwriting Risk & Reinsurance

The Head of Casualty Exposure Management is a newly created role focussed on driving our risk management strategy in Casualty lines and the role is supported by an Analyst and Senior Analyst.

The main focus of the role is to define measures and the operational processes and structure needed to monitor and make timely smart decisions on our casualty book.

This will involve; External Horizon scanning; Early warning indicators, and working closely with CUOs to identify, mitigate, and hedge casualty risks.

In the area of Natural Catastrophe risk we have a mature process built on 15 years’ experience that helps us assess the bets we are taking and measure and hedge risk effectively.

Casualty lines now represent $1.7bn GWP and 50% of the Group’s net premium base and annual profits with plans for each of these to grow materially in near future.

Along with this growth in premium comes an increase in exposures. Our Casualty RDSs (Realistic Disaster Scenarios) are now in many cases larger than our natural catastrophe RDSs and we have an ambition to develop an (at least) equivalent Risk Management & Analytics capability in this area.

This is an area in which we have invested time, people, and process, but which is immature enough to be fully shaped & developed by the successful candidate.

You'll help us get :

  • clarity into the bets (profits vs risk) we are taking,
  • a transparent, managed approach to emerging risk identification with timely course corrective actions.
  • measurement and communication of our largest risks linked to an effective reinsurance strategy.
  • This will be achieved by :

  • Effectively leading the Casualty Exposure Management team
  • Developing a rich understanding of our coverages and risk
  • Building strong relationships with our CUOs, Casualty Divisional Directors, and Heads of EM in the business units.
  • Developing and managing the Casualty EM framework and processes
  • Bringing together the key analytics and metrics that describe our Casualty portfolio along with the exposure management and horizon scanning activities for these lines.
  • The team

    The Group Underwriting Risk & Reinsurance function is responsible for ensuring our largest risks are identified, understood, measured, priced and hedged effectively.

    The Function is made up of 30 people in 3 teams Reinsurance Purchase, Underwriting Risk Analytics, Exposure Management. The Exposure Management team is made up of Casualty, Cyber, Natural Catastrophe and Research teams.

    The broader team has dedicated support of an IT Delivery Manager, an Operations & Change Manager, and a team PA and is led by the Director of Underwriting Risk & Reinsurance who reports to the Group CUO.

    Our goal is to become a world class casualty insurance company and see this role being a key contributor to lead us there.

    Person Specification :

    Experience in Casualty insurance (in-depth knowledge in at least one of the following - underwriting, broking, claims, legal, exposure management, actuarial) or,

    Experience developing and managing a complex risk management or analytics process within Financial Services

    Experience of managing a team in a complex environment.

    Good communicator / influencer will need commitment to get things done, on time, across various teams.

    Attention to detail tenacity to focus on the detail when it’s required.

    Strong academic background in an appropriate field.

    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.

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