Hiscox is rolling out its AI-augmented submission-to-quote tool more widely across Retail, after the specialist insurer said the solution improved speed to quote by around 75% in terrorism and in architects and engineers in its US broker business.
The update came in the company's third quarter trading statement, published on 3 November 2026. According to the statement, the tool also contributed to an improved quote-to-bind ratio in US broker.
Hiscox first disclosed AI-augmented underwriting in US broker in its interim statement on 5 August 2026, when it said the business had deployed an AI-augmented solution for lower complexity business in June, initially in two lines, with early results showing a material reduction in turnaround time. The around 75% figure was published for the first time in the third quarter statement.
The insurer said it is also rolling out a new broker portal across Europe and developing a new pricing engine in the UK. In the third quarter, Hiscox launched a new AI-native portal in US direct, offering what it described as much enhanced self-service functionality. The company said that once proven locally, these capabilities will be scaled across Retail.
Hiscox has also appointed Phil Withey as Group Chief Information Officer. Withey joined Hiscox in 2025 as Chief Technology Officer of Hiscox London Market and, according to the company, has driven the expansion of its AI augmented underwriting and overseen the development of agentic AI capabilities.
Aki Hussain, Group CEO, said: “Our change programme is transforming Hiscox into a more efficient and scalable business, unlocking greater synergies across the Group.”
Headquartered in Hamilton, Bermuda, Hiscox is a specialty insurer listed on the London Stock Exchange. Group insurance contract written premiums rose 9.5% to $4,437.2m in the first nine months of 2026.
