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Meet Nicholas Jaini: Underwriting Graduate

Book open Reading time: 3 mins

We spoke to Nicholas, Underwriting Graduate at Hiscox, to discuss his experience and time at the firm.

What made you choose Hiscox’s underwriting graduate programme?

Hiscox is a specialist insurer with a set of strong values. I experienced this first-hand during an internship at Lloyd’s of London, where I had the opportunity to work with a team from Hiscox and was impressed by their expertise. This was further evidenced by the people I met during an open and insightful interview process and I knew that it was the place I wanted to begin my career ininsurance.

I chose the underwriting graduate programme as I was interested in learning how different types of businesses operate in order to evaluate their risks thoroughly. I was keen to expand on skills I acquired while studying for an economics degree, and the analytical nature of underwriting gives me the opportunity to do so. We work with a range of businesses across multiple sectors, and no two risks are the same – and so I’m constantly learning.

Describe your journey on the Hiscox Graduate Programme

I joined shortly after graduating in September 2022 working with the London Professions and Specialty Commercial (PSC) team as part of my first rotation. I worked on a variety of risks across different industries and products. This allowed me to quickly build my knowledge of underwriting, especially in professional indemnity but also management liability, cyber, commercial property and casualty insurance. It was challenging, but the team guided me throughout and it was fantastic working with brokers from the start.

I’m now on my second rotation within the UK’s Specialty Media team. I’ve got more technical underwriting skills and worked alongside specialist underwriters and claims experts. The Media team underwrites risks ranging from marketing companies to film producers. The sector is new to me, and given the significant changes to the industry with things like generative AI and big data it is an exciting time to be working in this area.

Aside from underwriting, I’ve had the opportunity to pitch a new Hiscox product with colleagues from across the Group as part of an Innovation workshop, organise a panel discussion, work with partner broker graduate cohorts and attend industry networking events.

I look forward to exploring the wider business during my non-underwriting rotation, which will be my final rotation of the programme before I move into a role in the business.

Tell us more about underwriting and some of your day-to-day responsibilities

Underwriters decide the terms upon which a contract of insurance is written, including the premium and any clauses and subjectivities. The term ‘underwriter’ was coined in Lloyd’s of London during the seventeenth century where market participants would write their name underneath the risk that they were accepting. I work within Hiscox UK, underwriting commercial SME risks across multiple sectors.

Liaising with brokers to negotiate terms and maintaining good working relationships with them is an important part of my role. We are always looking forward, and I will often find myself analysing policy data, working on new opportunities, and seeking to improve the experiences of brokers and customers.

I particularly enjoy being given the autonomy to approach my work independently while still feeling the support of a team around me.

What advice would you give to someone thinking about joining the Hiscox Underwriting Graduate Programme?

The rotational structure of the graduate programme provides you with a comprehensive understanding of the business. You will be surrounded by talented colleagues who are more than happy to share their time and expertise. Come with an open mind, a willingness to learn and remember that no question is a stupid question!

Ready to find out more? Head over to Hiscox's profile to explore their upcoming opportunities!