University Degree in Actuarial Science, Finance, Statistics, or Mathematics
FSA or progression towards FSA
2+ years of actuarial experience in Life and Health insurance/reinsurance
Strong analytical, organizational, and problem-solving skills
Ability to learn quickly and work under tight timelines
Excellent communication skills for diverse audiences
Proficient in GGY AXIS, Datalink, SQL, Excel, Word, PowerPoint
Responsibilities
Maintain and enhance pricing management models for Individual Life and Critical Illness
Monitor portfolio changes to explain variances in volumes and profitability
Support development and testing of actuarial assumptions for pricing
Lead or contribute to technical aspects of internal projects
Enhance pricing processes by developing tools for improvements
Build models in AXIS for product pricing and profitability metrics
Analyze internal and external data for reinsurance assumption development
Benefits
Collaborative work environment with cross-functional teams
Opportunities for professional development and progression towards FSA
Engagement in impactful projects within the insurance sector
Access to advanced actuarial tools and technologies
Dynamic work setting that encourages quick learning and adaptability
Full Job Description
Position Overview
Supports the ongoing pricing management, analysis, and modelling of the Individual Life and Critical Illness new business portfolio.
Maintains and enhances pricing management models, monitors new business volumes and profitability, and supports the development and testing of assumptions used for new business pricing.
Assist with the development of assumptions and building of actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time.
Works with team members or other internal stakeholders and manages assigned deliverables, communicates analyses and delivering results and documentation.
Your Role
Maintain and enhance the pricing management models used to monitor the Individual Life and Critical Illness new business portfolio.
Monitor the portfolio to identify changes in the portfolio to explain variances between actual and expected volumes and profitability.
Support the development and testing of actuarial assumptions used in pricing Individual Life and Critical Illness business.
Lead or contribute to the technical aspects of internal projects or ad-hoc requests, working with other team members or internal stakeholders.
Contribute to the enhancement of pricing processes or methodologies by developing tools for potential improvements of the day-to-day process and pricing methods.
Build models in AXIS to appropriately price products and determine profitability metrics.
Assist in the analysis of both internal and external data to support assumption development processes for reinsurance.
Your Profile
University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
FSA or progression towards FSA.
2+ years of actuarial experience in the Life and Health insurance/reinsurance industry.
Strong analytical, organizational, and problem-solving skills with high degree of attention to detail.
Demonstrated ability to learn quickly and work effectively under tight timelines in a dynamic environment.
Excellent communication skills, including the ability to clearly organize and present analyses to technical and non-technical audience.
Proficient with GGY AXIS, Datalink, SQL, Excel, Word, PowerPoint.
About Munich Re
Munich Re is a leading global provider of reinsurance, primary insurance and insurance-related risk solutions. The company is headquartered in Munich, Germany. Munich Re operates in all lines of insurance and has a presence in all major markets worldwide. Munich Re's business model is based on the combination of primary insurance and reinsurance under one roof. The company has three business segments: reinsurance, primary insurance, and Munich Health. Munich Re's global premium income amounted to ?54.5 billion in 2020.
