The agency won the account after a final head-to-head pitch against UM London. Arena Media and MPG Media Contacts were also involved in the review, which was co-ordinated through ISBA, at its early stages.
Hiscox's media was previously handled by Acquity, the customer insight agency since rebranded as Crayon Ci.
Vizeum will work on the business from July and will be responsible for supporting the marketing of Hiscox's direct business and the sale of its services via independent financial advisors.
Hiscox, which spent around £3 million on media in the last year but is expected to increase this in the future, kicked off a review of its media in February. Its relationship with VCCP, which handles its creative account, was unaffected by the process.