Hiscox joins forces with insurance software specialist

Specialist global insurer Hiscox has partnered with insurance software specialist Verisk Specialty Business Solutions to implement a new solution called Sequel Claims.

This partnership will enhance Hiscox London Market’s claims management capabilities, according to a statement.

It will supplement existing capabilities via an electronic claims file (ECF) write-back enabled claims management solution.

Adam Rushin, director of operations at Hiscox London Market, said: “One of our key claims drivers was to implement a modern tool with a trusted partner who is embedded in the Future at Lloyd’s programme so we can embrace the various digitisation opportunities coming out of Blueprint Two.

“Verisk is the ideal partner and Sequel Claims integrates easily with current and future Hiscox and London market applications, ensuring we deliver faster response times and better service to our customers.”

Verisk-owned Sequel bought Ignite’s broker software in September 2021. 

Consolidating market position

Sequel Claims will also allow users to manage and act on claims data in real time, said the firms.

This will provide a single reference point throughout the claims process and deliver a range of operational and workflow efficiencies alongside enhanced user experience, decision-making and reporting capabilities.

Richard Reggel, chief commercial officer at Verisk Specialty Business Solutions, added: “We are proud to partner with Hiscox to deploy our flexible, scalable platform which will help consolidate its position as a market leader in the London and global insurance markets.”

A spokesperson for Verisk told Insurance Times: “Verisk are working with our clients in order to support the various Blueprint Two initiatives.”