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AI augments Hiscox underwriting as insurers keep human decision control
Hiscox says expanded risk data access via AI helps speed up quotes and reduce servicing costs while keeping underwriters accountable for yes-or-no decisions.
Insurance Business reports that more than half of U.S. states have adopted the NAIC Model Bulletin on the Use of Artificial Intelligence Systems by Insurers, which requires carriers to document how AI supports underwriting decisions without replacing human judgment.
Mike Maletsky, vice president of underwriting transformation at Hiscox, said the company views that distinction as an operating principle rather than a compliance task. He said Hiscox uses AI to cut busywork and administrative effort, while keeping underwriters responsible for the final decision on approvals or denials.
Maletsky described the past five years as a shift in underwriting “visibility” rather than decision authority, with AI tools surfacing a broader set of data points for the same risk. He said that expanded visibility is contributing to faster quotes and lower servicing costs, and can help the carrier handle higher business volumes without adding headcount.
He also argued that specialty insurance, unlike personal lines that can rely more heavily on templated rules, has structural differences that limit how much can be automated, so a human-in-the-loop model remains central as Hiscox scales.