Hiscox launches underwriting academy
Hiscox has launched an underwriting academy in the UK with the aim of increasing the speed to competency in underwriting roles.
The Hiscox Underwriting Academy, piloted in Q4 2022, will provide hands-on technical and professional development for talent. The academy is part of a wider drive to strengthen the underwriting talent pipeline, the company said.
In Q4 2022 the Hiscox Underwriting Academy completed a pilot to recruit 10 new underwriters for its commercial insurance division. The focussed nature of the programme has reduced the time it takes to achieve the entry level underwriting licence by two thirds, and this is now being replicated in its personal lines division, with further intakes for commercial roles planned in April.
Half of the five-month enrolment encompasses classroom-based training and the remainder is spent in a supported live environment, before moving immediately into live underwriting roles with a level one Underwriting Licence.
The academy syllabus includes CII modules and training that will help participants achieve certification within the first year of their role.
Jodi Cartwright, distribution director at Hiscox UK, commented: “Competition for qualified underwriters is tough, so whilst we continue to recruit skilled underwriters with experience, we are investing heavily in nurturing new talent, with an increased focus on training, development and career management.
“The Hiscox Underwriting Academy provides those with underwriting aspirations an accelerated path to certification. We recruit and upskill high performing individuals, offering a training path that is fast, comprehensive and hands-on. As the business grows, demand for exceptional underwriters will keep increasing and the academy will ensure we have a strong pipeline of technically-skilled and commercially-astute talent to meet that.”
