London (30 October 2013) – Hiscox’s UK retail business has reduced the number of firms it works with for claims legal advice from 45 to 13 firms. Each panel partner has agreed to a number of sweeping new service standards designed to deliver a better claims service to both clients and brokers.
Recognising that its legal partners play a crucial role at what is often a time of crisis for clients, Bob Thaker, Hiscox’s Head of UK Claims, comments: “Our goal is to work with panel law firms to deliver better outcomes and service for our customers. Adopting a genuine spirit of partnership with fewer firms focused on service goes against the current industry trend in what has predominantly become a race to the bottom on legal spend. We recognise that value goes beyond just cost, and as such, we have sought to build partnerships with a tighter group of law firms who share our values and focus on service, rather than a singular focus on rates.
Andrew Sellers, Group Claims Service Delivery Manager for Hiscox adds: “We have worked with our newly appointed panel to develop new service levels and agree a transparent pricing structure which we have now rolled out and will continue to monitor. Today, once instructed by us, each law firm now has a maximum two hour window to contact a customer. With the new monitoring process in place, those firms that continue to innovate, step up, and delight our customers, will get more work. It is as simple as that.”
The revised Hiscox panel is: Arthur Cox; Beale’s; Berrymans Lace Mawer; Browne Jacobson; Clyde & Co; DWF Fishburns; Kennedys; Lake Legal; Pinsent Mason; Reynolds Porter Chamberlain; Robin Simon; Ronan Daly Jermyn; Simpson & Marwick and Watson Burton.
For further information please contact:
Group Communications Manager
020 7448 6619
Group Communications Coordinator
020 7448 6522
Notes to editors
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Conduct Authority and Prudential Regulatory Authority.
For further information, visit www.hiscoxgroup.com.