10 June 2022Insurance

Pen Underwriting mines Hiscox to build out infant tech-sector lines

London-based managing general agent (MGA)  Pen Underwriting has plucked a tech sector underwriter from Hiscox to keep Pen apace with what it considers growing demand for tailored insurance solutions to support the rise of the UK tech sector.

Dan Hydleman (pictured) joins  Pen Underwriting as a specialist technology underwriter to follow the September 2021 arrival of Tom Dixon to spearhead development of the new niche within Pen with a “comprehensive portfolio of professional indemnity-led innovative risk solutions.” The offer covers companies ranging from software developers, internet service providers and GDPR consultants to specialists in blockchain, artificial intelligence and data analytics.

“Tech sector insurance may be a more mature market than cyber, but its upward growth trajectory is just as strong, underpinned as they both are by the expanding digital economy,” Pen Underwriting’s managing director of international & financial Lines Adrian Scott said.

Hydleman has been underwriting in the tech space at Hiscox since 2019 and brings experience in direct-to-consumer channels, e-trade capabilities and a focus on the customer journey,  Pen Underwriting said.

Dixon commented: “Dan’s experience of the fast-evolving and complex risk needs of a growing breed of tech sector companies, coupled with an understanding of how a tech sector book needs to be run and managed profitably, will be invaluable as we continue to grow sustainably but at pace in this rapidly expanding area.”

Hydleman added: “ Pen’s stated ambition to become a top tier, insurance heavyweight in the tech sector was a compelling reason to join the team. It’s exciting to be part of a business that is looking to diversify its product offering, enter emerging areas and do things differently, while making sure new risk solutions continue to reflect changing customer needs and exposures.”

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