A greater appetite

John Heaney reveals to Ana Paula Nacif how he, and Hiscox, are ready to take on more commercial business

Not many people can say their love affair with insurance started as a teenager. In fact, many admit to having ‘fallen into it’. Not John Heaney.

After watching a documentary about claims at the tender age of 14, he decided he would pursue a career in insurance. "When I was 17, I got my first job. Since then I’ve been living the dream. I still love it," he says.

John, Hiscox’s Commercial Underwriting Manager, explains that his passion for the insurance business comes as much from working with people as from having to stick his head above the parapet and face constant challenges. "We need to understand people and their businesses, which is extremely interesting," he says. "I can’t imagine myself doing anything else."

With such drive, it is no wonder that John rose through the ranks to land himself a job as an Underwriting Manager for the Middle East with Tokio Fire & Marine, which took him around the world. Tired of living out of a suitcase, he joined Hiscox in 2005. "Instead of going to Dubai or Saudi Arabia, I now go to Leeds and Manchester," he jokes. John says he decided to join Hiscox because of its ambition to be different and its dynamic approach to insurance. He helped grow the commercial division five-fold, from £6 million to £30 million, in little more than three years.

The commercial insurance sector is constantly changing, opening up opportunities for both insurers and brokers. John puts his success down to Hiscox’s willingness to build strong partnerships with their brokers and clients. "It is about meeting people, discussing their needs and coming up with a perfect solution for them. Other insurers can copy our products, our policies and even our prices at a similar level, but they cannot match our people," he says proudly.

A flexible and successful team

John says his team of underwriting experts based throughout the UK is empowered to make decisions, which means brokers and their clients get instant decisions. "There is no head office Big Brother mentality and brokers place business with us because we offer them flexibility," he explains. "We have many different operating models and brokers can transact business in the way it suits them; for example, through a managing general agency or via our fast scheme solutions, whereby we do everything, including talking to customers direct on behalf of the broker."

But his team’s success is not only about business flexibility. John is keen to point out that service levels are very good and that Hiscox has "one of the best claims services in the market", adding that many brokers have built a solid relationship with the insurer, which has helped them to boost their own businesses.

Always on the move, the last place you will find John is at his desk in Colchester. "I probably go to my office twice a week," he says. "I spend most of my time meeting brokers and their clients, so I can build a solid understanding of what they need and come up with a solution. That’s the beauty of us being new in this area. We have no systems or doctrine we are tied to, so we can be innovative in how we transact business with each individual client."

His next move may surprise those who had thought that when John talks about commercial insurance he is only referring to office insurance. He is now taking the team’s proposition to the next level, with the aim of getting more venues on the books – but not just any venues. "We want inspirational places to insure," he says. "Places you take the family at the weekend, such as museums and vineyards." One of his recent clients is a monastery in Manchester that is now used as a classical music and entertainment venue.

"This is the type of place that our high net worth clients visit at the weekend," he points out. "We are also keen to move further into the medical malpractice sector, insuring places such as day spas for property and liability, including malpractice."

Hiscox’s commercial division writes mainly property and liability, but those looking for something slightly different just need to ask. "Apart from our core products – which are professional indemnity, office, combined, management liability, charities and wellbeing portfolios – we do write more unusual schemes, such as multimedia and Part P electrical warranty schemes for electricians," John explains.

With ‘achievement and efficiency’ as his motto, John says he is most proud of having been able to grow the business with his team, maintaining underwriting profits and creating a partnership with clients and brokers where everyone is a winner. "Everyone gets the benefits," he says. "I’ve seen brokers increasing their business volume after coming to Hiscox. Clients like our services, so they tell their friends."

After such a resolute start at the beginning of his career, John completes 30 years in the insurance industry in July. And, although there is no doubt his business acumen has paid off, another thing his colleagues do remember about him is the bright colours he loves wearing. In fact, last year he won an internal award for the most colourful tie. The trouble is, as he says, "I’m not sure whether the award was for the best or worst tie!"

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Hiscox Commerical Products

• Professional Indemnity
• Commercial Combines
• Management Liability
• Office Insurance
• Schemes
• Medical Malpractice
• Event Insurance

 

 

 

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