We are a modern business with traditional values. We believe in integrity and decent behaviour and we strive to have honest and fair dealings with all our stakeholders in the marketplace – customers, brokers, investors.
Customers: a promise to pay
Our ethos of outstanding customer service has earned Hiscox a reputation as an insurer whose word can be trusted, which sets us apart in our industry. Our belief is that insurance is a promise to pay, so should a loss occur, we aim to fully support our customers, and to pay every valid claim as soon as possible. As well as the claims accolades mentioned above, in 2013, for the fifth year in a row, Hiscox UK was awarded ‘Best Insurer’ at the Start Your Business – Best Service Provider Awards 2013.
What our UK customers said:*
Brokers: creating competitive advantage
Insurance brokers are important stakeholders in our business, and we wish to build strong relationships with them to create a competitive advantage in the marketplace. Hiscox UK has instigated a ‘superb service’ ethos, developing a greater understanding of individual brokers’ needs. Hiscox UK and Hiscox London Market have Chartered Insurer status from the Chartered Insurance Institute, which recognises the professionalism and expertise of staff and helps to attract business partners looking to work with high-quality insurers.
- Best Small Business Insurance award for the fourth year running - Start Your Business Awards 2012.
- Customer care award from the British Insurance Awards 2012.
Investors: building understanding
We have a policy of open and transparent communication with our shareholders. Hiscox reports both its half- and full-year results to investors via a series of presentations, as well as ensuring all relevant Group financial information is available on the corporate website. Senior management and key employees also regularly meet investors and analysts throughout the year to explain and answer questions on our financial performance and business strategy.
- 72% of customers would recommend Hiscox to friends and family based on their experience
- 96% of Business Insurance customers were satisfied that we spoke to them in a clear way and avoided using financial jargon
- 99% of Home Insurance customers were satisfied that we answered their questions and provided the information they needed today
- 90% of our Home Insurance customers surveyed were satisfied with the way we settled their claim
Brokers are the major source of our business. We endeavour to develop long-term partnerships with like-minded global, local and specialist broker organisations for mutual business benefit and to create competitive advantage. We nurture our broker relationships through regular, clear communications and by sharing industry knowledge. This benefits our customers in the form of good customer service and market leading products.
- Hiscox has been awarded Corporate Chartered Insurer status by the Chartered Insurance Institute (CII) for their Hiscox London Market business. This award reinforces the firm’s pedigree as a first class underwriter with a commitment to professionalism and excellent claims handling.
- The British Insurance Awards 2009, General Insurer of the Year
- Insurance Times Commercial Lines Insurer of the Year, 2009
- Insurance Times Broker Service Survey 2009: Best Commercial Lines Insurer for Broker Service
We want shareholders to understand and interact constructively with us about our business, strategy and prospects for growth. To do this we report our half-year and full-year results through presentations, and keep the investor section of our website comprehensive, accessible and current. We also arrange for senior management to meet investors and analysts regularly.