Underwriting Graduate – Munich

Why Hiscox?

We believe that it is our humanity that sets us apart from other insurers. We take pride in understanding people and their lives at real depth. We look at what makes them different, not what makes them the same.

Our world-class underwriting enables us to be a specialist that properly gets under the skin of the people it protects instead of an insurance generalist who never goes more than skin deep.

When it comes to claims, our reputation for claims handling is second to none. We see the human pain that comes with a claim and we go above and beyond to make things right.

We forge deep and trusted relationships with our broker partners. We speak to our customers like people, not like robots. And we take real care of our staff.

It all adds up to a business that truly sees the people behind the policy: a business with strongly held values and a unique ‘soul’ that makes Hiscox a place to work like no other.

What is the role?

Hiscox Europe is a key part of the Hiscox group and consists of Hiscox Germany, Benelux and Iberia, Hiscox France and Hiscox Ireland. Hiscox Europe provides personal lines cover, including high-value household, fine art and classic cars; as well as commercial insurance for small and medium sized businesses.

In Germany, Hiscox SA relies on the expertise of approximately 250 employees spread between Munich, Hamburg, Cologne, Frankfurt, Berlin, Stuttgart and Lisbon.

Hiscox’s specialist insurance products are offered through three distribution channels (Brokerage, Direct and Partnerships). This organisation reflects Hiscox’s desire to place customer needs at the center of its development by offering a multi-channel approach. Our customers are individuals, small to large multinational companies, as well as professionals and communities. Thanks to our precise knowledge of the German speaking market, we are able to offer tailor made products covering high value household goods, cyber, special risks, professional indemnity, and Directors and Officers liability insurance.

Underwriting is about risk analysis and selection, trading, creativity and innovation. At Hiscox, underwriters use judgement, skill and experience to assess, accept or decline risks in line with our underwriting philosophy. They offer flexible and attractive underwriting solutions to customers, partners and brokers, and undertake account and performance analysis for lines of business and brokers or partners to ensure profitability.

What is the opportunity?

This 18-month graduate programme will provide you with exposure to three key business areas within the Underwriting function. Two of the rotations will be in your home location, with one other being in a different European office.

Your rotations explained:
Your first rotation will take place in one of our Sales, Technical or Desk Underwriting teams within your base location, where you will establish the foundations for your graduate career with us.

In your second and third rotations, you will build upon the knowledge and skills you have developed, completing one of these rotations in a different European office. These rotations will challenge you to develop new skills and gain broader technical knowledge. You will also have the opportunity to work closely with our European Management Team, broadening your perspective and understanding of the wider European business.

We are looking for:

• 2.5 or above grade point average predicted or obtained in Insurance, Finance, Economics, Engineering or Law (although we are open to different degree backgrounds)
• Someone who has interpersonal skills, with the passion to develop your trading and negotiation skills in various market conditions
• Someone who is curious with an eagerness to learn and try new things
• You to have the ability to communicate effectively with a diverse range of individuals, with the drive to partner with key stakeholders across the business?
• You to be comfortable working with data
• You to have the courage to ask questions, challenge the way things are done and put your own ideas forward
• Fluent in German and English (written and spoken)
• The permission to work in the location you are applying to (by the start of the graduate programme)

Why should you apply?

• Gain excellent exposure to Hiscox Europe overall, through three underwriting rotations
• Develop a solid understanding of the underwriting basics and principles across the full range of our product lines
• Use your analytical and critical thinking skills, learning how to assess risks, determine premiums and make underwriting decisions
• Service our existing brokers, as well as develop new relationships
• Build on your communication and interpersonal skills as you learn how to trade and negotiate with our brokers and partners in both good and poor market conditions. Trading is a key part of the role and you’ll be interested in working in sales and dealing with clients
• Receive on-the-job training as well as a structured learning programme ranging from technical knowledge to interpersonal skills
• Receive support and guidance from our Early Careers Team, your Grad Buddy, Senior Sponsor who sits on the European Management Team, and benefit from regular access to the CEO of Hiscox Europe
• Be part of an international graduate cohort, gaining a global network of peers across the business