Hiscox has cut the time between broker submission and quote by approximately 75% in terrorism and architects and engineers lines, and is now expanding that AI-powered underwriting tool across its US retail business, according to the specialty insurer’s nine-month trading statement.
The improvement in speed is also translating into better placement outcomes. Hiscox said the quote-to-bind ratio has improved alongside the faster turnaround, suggesting the efficiency gain is affecting conversion, not just process. The tool is now being rolled out more widely across retail, the segment that includes the US broker and direct channels.
Hiscox USA reported insurance contract written premium growth of 8.4% to $791.6 million for the nine months to September 30, compared with $730 million for the same period in 2025. Momentum improved on 2025 across both the direct partnership and broker channels.
The US direct partnership and digital channel grew premiums by 10.1% to $491.4 million. Hiscox said it has delivered double-digit growth in digital direct consistently over the last four years. In a notable shift in distribution strategy, Hiscox said it is now advertising on what it described as a leading large language model, without naming the platform, a disclosure that suggests AI-driven discovery is beginning to affect how small business owners find and buy insurance.
US broker grew by 5.8% to $300.2 million, which Hiscox described as positive against a highly competitive backdrop. Growth was driven by expansion into life sciences and technology start-ups, with allied healthcare also performing well following the addition of new underwriting talent. The AI submission tool contributed to the improved quote-to-bind ratio in that channel, particularly in terrorism and architects and engineers lines. Auto-renewals optimisation also produced a broad improvement in retention and persistency.
Hiscox London Market reported headline ICWP growth of 9.9% to $1.05 billion, but underlying growth after stripping out prior-period adjustments was 3.9%. The nine percentage point gap reflects deliberate cycle management. Hiscox has pulled back from major property, upstream energy, power and renewables, where aggregate rates have fallen 5% through the first nine months, consistent with the position it reported at the half-year.
Hiscox’s H1 2026 results show that the insurer had already non-renewed 23% of its power and renewables book by mid-year. That process has continued through Q3. Where Hiscox London Market is actively deploying capital, it is moving into adjacent classes: downstream energy, technology errors and omissions, Hiscox Portfolio Solutions structured products, and selective casualty lines where returns remain adequate. D&O is showing early signs of stabilisation as US IPO activity picks up.
The ILS business connected to Hiscox Re has grown sharply this year, with assets under management reaching a record $3.1 billion as of 1 October 2026, more than doubling from $1.5 billion at the start of the year.
Group insurance contract written premiums grew 9.5% to $4.44 billion. The change program remains on track to deliver $75 million of profit and loss benefit for the full year. CEO Aki Hussain said the company remains on track to deliver 9% constant currency growth for the full year.
