Welcome to “Our Business” page
This page aims to provide an overview of our business operations within the Hannover Re UK Life Branch. Here, you will find detailed information about our company's structure and the vital roles each team plays in achieving our overall business goals. Our aim is to create a deeper understanding of how we work together to drive success and how we collaboratively leverage our expertise to deliver outstanding results.
To find out more about the structure of the different teams and who works where, you can refer to our organisational chart here.
Business Development Protection:
The Business Development/Protection team drives the branch towards growth by identifying and pursuing new business opportunities, focusing on profitable individual protection products such as mortality and critical illness as well as financial solutions reinsurance. The team manages relationships with existing insurance clients/ cedants, providing expertise in product development, risk management, and pricing. They also oversee in-force management and ensure alignment with relevant stakeholders and client-facing representatives including Underwriting and Claims. Additionally, the team keeps us at the forefront of industry trends, supports clients with innovation, and engages in marketing and thought leadership, leveraging digital health data and emerging insurtech partnerships. Learn more about Financial Solutions, In-force management and Marketing by clicking the relevant buttons below:
Biometric Research:
The Biometric Research team believes that superior intelligence supports better decisions, using data insights and the latest health and medical research to price and manage risks while generating commercial benefits. The team's vision is focused on:
• Robust Central Bases: Our central bases assumptions are essential to understanding, pricing, and managing biometric and behavioural risks with precision. The team continuously enhances our tools and techniques, ensuring they are market-leading and fit for the future.
- Best-in-Class Research: The team conducts forward-looking research to monitor how medical advances in diagnosis and treatment will affect the mortality and morbidity risks our clients face and how social, environmental, behavioural and health trends are changing consumer needs. Combining medical expertise, actuarial techniques, and data analytics, their research drives innovation and supports the development and pricing of new protection benefits and reinsurance solutions.
- Exceptional Data Insights: The team develops and embeds data science tools to generate insights that drive opportunities, manage risks and support innovation. They stay updated on the latest innovations, proposing new technologies and methodologies to keep the branch at the forefront of the field.
Underwriting & Claims:
The Underwriting & Claims team is vital to the insurance process, providing underwriting and claims services to clients with high service standards and adherence to company policies. Insurance relies on a pooling concept, with underwriting ensuring the proper operation of this pool. Underwriters set acceptance standards, review applications and classify risks based on the overall profile presented. Meanwhile, the claims team handles claims validation and settlement, when the policy is at its most tangible to the claimant. Learn more about the team in more detail by clicking the relevant buttons below:
The team collaborates with the business development team to explore new opportunities and enhance client relationships. The underwriting research and development team contributes to central basis discussions (owned by the Biometric Research team), bespoke pricing queries, and product development, ensuring alignment across pricing, biometric research, and underwriting & claims. They also stay ahead of innovation trends and industry regulations to ensure readiness for potential disruptions.
Corporate Actuarial, Risk & Compliance:
The Corporate Actuarial, Risk, and Compliance teams are committed to maintaining our business's financial health and operational stability. The team, split across three areas, ensures regulatory compliance through various technical reporting processes and compliance frameworks, along with adherence to local regulatory standards, documented guidelines, policies, and processes, while maintaining relationships with regulators. Additionally, the team plays a key role in valuation work, performance analysis, and enhancing actuarial work. Read more about each area in detail by clicking the relevant buttons below:
Finance & Operations:
The Finance & Operations team is crucial to the company’s infrastructure, managing financial accounting, reporting, taxation, expense management, investments, forecasts, and legal entity management. They also oversee reinsurance operations, acting as the client contact for data management, accounting, credit control, claims processing, and annuities outsourcing.
Their role includes defining the client data management landscape, ensuring data mapping, validation, onboarding, and conducting performance analysis with tools like Power BI. They analyse quarterly financial results, identify key drivers, and focus on portfolio optimisation and issue management, including recapture opportunities and data-related issues. The team manages client seriatim data, facilitating its processing and integration into actuarial, analytical, and operational workflows, while also enhancing UK seriatim processes like Experience Analysis.
Moreover, they play a pivotal role in developing and embedding an enhanced data culture for the UK branch through the data quality management framework.
The Hannover Services IT team also sits within this business area and supports the UK branch by managing hardware, resolving IT issues, sharing IT updates, and providing technical support and training to boost end-user productivity.
Human Resources:
At the heart of our organisation lies a dedicated HR Team, committed to driving business performance and fostering a culture of excellence. The team empowers every employee to reach their full potential by creating an environment that encourages peak performance. Recognising that a thriving business is built on a motivated and engaged workforce, the HR team supports a positive and productive work environment. They align HR strategy with business needs and ensure everyone has the necessary resources. Our team combines specialist and generalist HR functions to provide comprehensive support in key areas such as:
Recruitment: Attracting and selecting top talent.
Rewards & Benefits: Designing competitive compensation packages.
Employee Relations: Managing workplace relationships.
Organisation Design: Structuring teams to align with strategic goals.
Organisational Development: Enhancing capabilities and skills.
Learning & Development: Empowering employees with necessary skills.
Payroll & Administration: Handling payroll and administrative tasks.
HR Business Partnering: Aligning HR strategies with business objectives.
Advisory Services: Providing guidance on HR policies and best practices.