New IT system shift disrupts Hiscox's operations, hits growth

Posted On: May. 30, 2019 6:45 AM CST

U.K.-based insurer Hiscox P.L.C. said that a shift to a new IT system for broker-distributed business disrupted its operations and hampered its growth in the first quarter, S&P Global reported. Bob Thaker, chief executive of Hiscox U.K., said that the insurer is also rolling out a new operating model for its broker-distributed business and growth would continue to be subdued until the changes take effect.