As data becomes more vital to the insurance industry, Broker Insights has announced a three-year extension to its partnership with global specialist insurer Hiscox.
Hiscox, an early adopter and the longest-standing partner of the Broker Insights Vision platform, will continue to use data analytics to strengthen engagement with regional brokers. The partnership will also focus on using advanced analytics to identify mid-market opportunities within Vision’s data set, to refine Hiscox’s underwriting approach and expand its presence in key sectors, such as technology and media.
The extended agreement also builds on the progress made since the partnership began, with both companies working to improve underwriting precision and broker engagement. By using data-driven insights, Hiscox aims to refine its approach to market opportunities and provide targeted support to brokers operating in the mid-market space.
The renewal reflects a focus on supporting the regional broker market through data-driven insights and analytics, the companies said. Adding the three-year extension with this agreement, the companies have been in collaboration for nine years.
Peter Scott (pictured above), chief executive officer at Broker Insights, noted the companies had achieved a number of milestones over the past six years. “Looking ahead to the next three years, by further leveraging analytics and market insights within Vision, Hiscox can continue to focus on the right opportunities, enhance engagement with regional and mid-market brokers, and unlock greater efficiency with precision and impact,” he said.
The financial terms of the extended agreement were not disclosed.
James Stewart-Smith, Hiscox broker sales director, stated that the collaboration aligns with Hiscox’s long-term strategy. “Our longstanding partnership with Broker Insights continues to deliver significant value for our broker relationships and portfolio growth,” he said.
Broker Insights has been extending its reach in recent times - including expanding its operations into the US market, launching its Vision platform across all 50 states.
