Specialist insurer Hiscox has signed a partnership deal with digital platform and distribution solutions provider IS2. This latest contract renewal is an extension of a 10-year long relationship between Hiscox and IS2.
IS2 will deliver an ambitious multi-channel digital roadmap for the schemes insurer that will reduce the cost of its distribution and increase the efficiency of its schemes. Hiscox has a busy pipeline of new multi-channel products planned, including a scheme for a major retailer, improvements to the events product, and a new treatment and professional liability scheme due to launch this year. The global insurer has successfully launched 40 niche schemes on the IS2 platform over the last decade.
Laura Shaw, Head of Digital Trading, Hiscox, comments: “It is essential that schemes remain flexible, accessible and responsive to rapidly changing market needs and that they run efficiently – delivering growth for us and our brokers. That requires a sophisticated digital platform which IS2 provide and they understand our market. We’ve enjoyed a great working relationship with IS2 and value their consultancy in addition to their market-leading technology.”
IS2 is an independent digital trading and distribution platform for the schemes market. It is cloud native, API led. Established in 1996, it has been delivering innovative digital solutions for Insurers, Insurtechs, MGAs and Brokers for nearly 30 years. It is one of the only platforms to offer hosted pricing for niche schemes. Profitable and growing it saw a 30% increase in revenue in 2022 and works with a number of leading insurers. IS2 has a long and successful track record of supporting its clients in achieving their digital ambitions.
IS2 Founder and Managing Director, Simon Pritchard, comments: “We’re delighted and proud to be extending this partnership. Hiscox requires a strong, nimble and responsive platform, to quickly launch new schemes in line with demand and across any channel. Brokers need to know that they can design a scheme for the individual needs of each profession within a class of business. It is essential that the platform can deliver tailored underwriting and a sophisticated customer journey, whilst maximising efficiency. Hiscox schemes are tailored specifically for their partners, with the benefit of speed of delivery for changes to rates and wordings managed centrally.”
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