Hiscox, a specialist global insurer, has appointed Phil Withey as chief technology officer (CTO) for its London Market division, reinforcing its leadership team as it ramps up its digital transformation agenda.
The company, known for its international presence in the specialty insurance space, is increasingly focusing on technology-led initiatives to remain competitive and innovative. The new CTO appointment is part of a wider strategy to enhance operational efficiency, improve client service and strengthen underwriting capabilities through digital tools.
Hiscox operates in the global insurance market, providing a range of specialist insurance products for businesses and high-net-worth individuals. The London Market arm of the company focuses on complex risks and underwrites a broad spectrum of international business through Lloyd’s of London. The firm has been investing in next-generation systems and artificial intelligence to modernise its offerings.
Phil Withey brings more than two decades of experience in financial services technology to his new role. He joins from London Stock Exchange Group (LSEG), where he held several senior leadership roles over the last ten years, including head of architecture for FTSE Russell, Shared Technology, and Data and Analytics. Most recently, Withey led the architecture team supporting LSEG’s multi-billion-dollar transformation partnership with Microsoft.
Set to begin his tenure in June, Withey will be based in London and will report jointly to Hiscox Group CIO Chris Loake and Hiscox London Market CEO Kate Markham. He will also join the London Market leadership team. His remit includes setting the technology strategy for the division, modernising trading systems, and driving investments in digital innovation, data and artificial intelligence.
Withey’s earlier experience includes roles at Barclays Capital and Threadneedle Investments, further bolstering his strong track record in applying technology to advance financial institutions.
Hiscox London Market continues to channel substantial resources into technology as it pursues greater agility, enhanced client service, and sustained competitive advantage in an evolving insurance environment.
Hiscox London Market CEO Kate Markham said, “We continue to make significant progress in the digital transformation of our business, enhancing our underwriting and claims capabilities and helping us to deliver outstanding service to brokers and clients. Phil’s experience and expertise will be key to delivering on our ambitions, supporting our colleagues across the business as we look to make it easier for brokers and clients to trade with Hiscox.”
Commenting on his appointment, Withey said, “I am delighted to be joining Hiscox at such an exciting time and to playing my part in realising its ambitious plans. Hiscox London Market has led the way with innovations such as its generative AI-enhanced lead underwriting model, so I’m really looking forward to building on the strong foundations already in place as we continue to explore how technology can transform the development of our products and the delivery of services.”
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