Case Study: Hiscox achieves faster, more consistent underwriting with Moody’s Analytics Location Intelligence API

Improved underwriting performance with Location Intelligence

Hiscox, a leading international insurance company, faced challenges in its delegated authority business with U.S. managing-general agents (MGAs). The company needed to ensure underwriting rigor and fast service, moving away from slow, inconsistent spreadsheet-based rating tables to provide quick, accurate quotes for catastrophe-exposed risks. To achieve this, they turned to Moody's Analytics and implemented the Moody’s RMS Location Intelligence API.

The solution from Moody's Analytics provided a cloud-based API that delivered real-time location intelligence, enabling Hiscox to return quotes within five seconds. This resulted in significant improvements, including percentage point gains on loss ratios and the ability to issue over 30,000 quotes per week with expectations to double that number. Moody's Analytics helped Hiscox achieve stronger growth, a better customer experience, and a more proactive, data-driven underwriting process.

Hiscox

Daniel Alpay

Line Underwriter