Underwriter - Climate & Emerging Risk

The reinsurance division is made up of our underwriting platforms across London and Bermuda, writing reinsurance risks around the world. Our team of circa 150 curious and collaborative individuals are committed to providing top quality service to brokers and clients across a broad range of reinsurance products. We protect our clients' assets against natural and man-made disasters, covering everything from earthquake and hurricane damage to cyber, malpractice and terror attacks around the world. Our approach is simple, we set out to partner with our customers to help solve the problems that will deliver real value; and have an unwavering focus on matching the right blend of innovation and dependability to meet our customer's ever-evolving needs. Our focused and discerning underwriting approach is complemented by a commitment to world-class service, and the ability to offer creative solutions to complex problems. We know our people are our biggest asset so finding and retaining top talent is crucial to achieving our vision of One Team, Unlocking Capital, Embracing Risk. The team mandate To develop, advocate for, and ultimately provide risk finance and insurance solutions, with the overarching aim of increasing financial resilience against disasters, close the protection gap and promote sustainable development. The team is responsible for underwriting a global portfolio of (re)insurance risks which includes agriculture reinsurance, public sector business, parametric solutions, sovereign and humanitarian Disaster Risk Finance, and risk transfer transactions which support ecosystem and economic resilience against natural hazards and climate/environmental change. Beyond the transactions, the team is responsible for promoting product innovation, developing views of risk for emerging and developing territories and perils, and harnessing the data available in this technological era., The Climate and Emerging Risk Underwriter role presents an opportunity to help build out an important and growing portfolio of diverse business in the Hiscox Re & ILS division. Responsibilities will include:

• To underwrite, manage and grow the global agriculture reinsurance portfolio, with a focus on non-proportional treaties, where the underlying exposure is largely government-subsidised insurance, protecting small subsistence farming, and promoting food security.
• To underwrite, develop, enhance and scale-up the Hiscox offering and capabilities with respect to Disaster Risk Financing mechanisms including but not limited to working on Risk Pools, Sovereign risk transfer mechanisms, Cat Swaps, other Parametric products and insurance of Humanitarian organisations.
• Represent Hiscox in various forums such as the Insurance Development Forum, Sustainable Market Initiative - Insurance Task Force, Lloyd's Disaster Risk Facility and general industry advocacy, engaging with donor governments, MDBs, and other stakeholders.
• Provide technical assistance to our clients, which include developing nations and NGOs.
• Manage long-term business and risk development projects, including projects for the Sovereign and Humanitarian Solutions Working group.
• Develop and enhance the earth observation and portfolio management tools and processes, harnessing relevant internal and external data, and feeding relevant insights into the Hiscox View of Risk.
• Work closely with the Hiscox ILS team to develop the optimum portfolio for our investors, whilst maximising the capacity available for our clients.
• To opportunistically underwrite commercial parametric opportunities with a focus on building a diverse and balanced book of business.
  
  A strategic mindset to identify new trends and areas of emerging risk, providing examples of having designed, developed and introduced new products to the market.
• Strong economic, geographical, mathematical skills, in order to structure, price and develop solutions for new and non-standard risks.
• The confidence to price and lead new business in the market, to attract business from existing relationships and to nurture and develop new relationships.
• Understanding of disaster risk financing, in the context of disaster risk management and climate adaptation.
• A collaborator and team player, both internally and externally.
• Excellent organisation, time and project management skills.
• Willingness to travel for business.
Our nice to haves
• At least 7 years of relevant experience.
• University degree in economics, physical sciences or mathematics.
• (Re)insurance underwriting experience.
• Experience working in or working with MDBs, United Nations Organisations, Government or the humanitarian sector.
• Experience in inclusive insurance solutions.
• Experience working with developing nations.
• Experience with catastrophe modelling and actuarial pricing methods.
• Business planning and understanding various accounting principles.
• Understanding of public finance.
• Competent user of the Microsoft suite, and experience with at least one of R, SQL or Python.
• Additional languages are helpful.