**London**: Broker Insights has extended its nine-year partnership with Hiscox through a new three-year agreement, focusing on advanced data analytics to enhance underwriting strategies and broker engagement in the commercial insurance market, particularly in technology and media sectors.
Broker Insights, a provider of data analytics for the UK’s commercial insurance market, has announced an extension of its partnership with specialist insurer Hiscox through a new three-year agreement. This agreement marks the continuation of their collaboration, which has now spanned nine consecutive years, highlighting a sustained commitment to regional brokers.
Hiscox is noted for being an early adopter and the longest-standing partner of Broker Insights’ Vision platform. This platform enables Hiscox to utilise data-driven insights to enhance its relationships with brokers. The focus of the renewed partnership will centre on employing advanced data analytics within Vision’s substantial dataset, which encompasses over £6 billion in gross written premium (GWP). This approach aims to identify and exploit mid-market opportunities, thereby allowing Hiscox to fine-tune its underwriting strategy and broaden its presence in vital sectors such as technology and media.
Peter Scott, Chief Executive Officer of Broker Insights, articulated the achievements of their collaboration over the past six years, stating, “Together, we’ve achieved significant milestones over the past six years, from creating valuable strategic opportunities to driving growth with regional brokers.” He further noted that the upcoming three years would see a continuation of this trajectory, asserting that Hiscox will be able to enhance engagement with regional and mid-market brokers while unlocking greater operational efficiency through precise and impactful analytics.
James Stewart-Smith, Broker Sales Director at Hiscox, also discussed the value derived from the partnership. He remarked, “Our longstanding partnership with Broker Insights continues to deliver significant value for our broker relationships and portfolio growth. The platform’s data-driven insights have become integral to our regional broker strategy, helping us identify and respond to opportunities more effectively.” The extension of this agreement is seen as a clear commitment by Hiscox to invest in technology that improves the service provided to both broker partners and their clients.
Source: Noah Wire Services
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