Hiscox sweeps the board at Digital Insurance & Tech Awards
If success can be measured in awards then Hiscox London Market’s new underwriting portal had a very successful 2014. The portal – known as Better Underwriter Decisions (BUD) – won awards for ‘Digital Insurance Project Team of the Year’, ‘Green Insurance IT Initiative’, as well as recognition for Cognizant as outsourcing partner at November’s Digital Insurance & Tech Awards held in London.
BUD marks an important stage on the ‘paperless’ journey for Hiscox’s London Market team. It is a web-based portal and a suite of applications that have revolutionised how underwriters access information, by linking all core systems including a policy system, claims, documents, contract and modelling into a single view.
“Our goal back in 2013,” says Keith Featonby, Head of IT for London Market, at Hiscox, “was to make Hiscox London Market paperless by 2014. We’ve made huge strides towards that aim with BUD’s sleek web portal, palm authentication high speed scanners, and dashboard, which provide our underwriters and managers with features such as real-time data tracking premiums against targets, and a wealth of information on broker and client performance. These awards are a vindication of what we set out to do and are welcome recognition for the team’s great work.”
Gareth Francis, Head of Business Change for Hiscox London Market, adds: “Brokers have welcomed Hiscox’s use of BUD and are particularly complimentary about the way BUD has been built around the needs of the underwriters, rather than purely from an operational perspective. It’s also been fun to see how many brokers have tried to override and test the palm authentication security on the high speed scanning system that BUD uses; we were concerned at first to see so many failed log-ins until we realised what was happening. If nothing else it proves the security of the system.”
Hiscox's Stephane Flaquest also took home CIO of the Year at the awards.
For more details about BUD contact:
Head of IT - Hiscox London Market
+44 207 448 6594