On How Hamilton is Building a Tier 1 Company
Hamilton Insurance Group has released a brief titled “We Were Built For This” that documents how Hamilton is developing creative solutions for the benefits of its stakeholders now that insurers are facing a new normal. Speaking of ‘new normal’, Group CEO David Brown defines ‘new normal’ as follows: “The new normal means lower rates and broader terms and conditions, all driven by a lack of catastrophes.” Here are the highlights: (1) On making a fresh start. “Because we started with a clean sheet, we were able to build an IT platform that integrates all the necessary information. It underpins all the underwriting and gives everybody access to all the data they need.” (2) On talent. “We are cross-functional and multi-generational, with underwriters, actuaries and analysts sitting among the software developers to create underwriting efficiencies, and to get the data insights we need to make the best decisions.” (3) On insurtechs. “They are not actually doing anything that’s particularly new” yet are here to stay. (4) On competence. “We have amazing acceptance by clients and a great spread of business with very broad products.” (5) On the intersection of data and tech. It created Attune, a small commercial platform for agents to quote small business insurance, and HARP (Hamilton Analytics and Risk Platform), a risk management platform to analyze, select and price risk. (6) On its mission. Building a Tier 1 company defined as the kind of company that is going to succeed in this new normal. Download here.