What's Happening?
Hiscox has appointed Adrees Tinkler to lead a new alternative risk transfer (ART) team within its London market business. Tinkler, who joins from Allianz where he was a senior structured underwriter, will establish the ART team later this year. His role will involve supporting the expansion of a suite of (re)insurance products that bridge the gap between self-insurance and full risk transfer. This appointment comes in response to increased client demand for innovative insurance solutions. Hiscox's chief underwriting officer, Paul Lawrence, highlighted the addition of the ART team as part of the company's strategy to broaden its offerings in response to evolving client needs.
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Why It's Important?
The creation of an ART team by Hiscox reflects the growing demand for tailored insurance solutions that offer multiyear pricing certainty and specialized coverage. This move is significant as it demonstrates Hiscox's commitment to adapting to the changing risk landscape and providing clients with products that meet their specific needs. By expanding into ART, Hiscox is positioning itself as a leader in offering innovative insurance solutions, which can provide clients with greater flexibility and security in managing their risks. This development is particularly relevant for industries seeking more customized insurance options that align with their unique risk profiles.
What's Next?
As Hiscox establishes its ART team, the company is expected to further develop and refine its suite of (re)insurance products to cater to the specific needs of its clients. This expansion will likely involve close collaboration with clients to understand their risk management requirements and provide solutions that offer both protection and pricing certainty. The success of this initiative will depend on Hiscox's ability to leverage Tinkler's extensive underwriting experience and strategic oversight to deliver innovative and effective insurance solutions.
