Senior Actuarial Associate, New Ventures
New York , United States
In keeping with our global position as an industry leader and innovator, Munich Re is driving transformative change in the life reinsurance industry. Our innovation strategy sets a new standard in digitization that will radically transform our end-to-end business operations and deliver world-class, fully automated business processes and workflows. We RE_think, RE_engineer, RE_define, RE_invent. What do you want to do tomorrow? We'll make it happen. Together. As a key member of Munich Re’s new Innovation division Munich Re New Ventures, you will contribute to improve the client purchasing experience via the creation of a digital insurance offering via innovative simplified underwriting and use of integrated analytics and thus grow the size of the insurance market and Munich Re’s share of the reinsurance market. This role is expected to prepare the individual to take on roles with increasing responsibility within the organization.
- Product Development & Pricing for Munich Re New Ventures
- Supporting the development of new innovative digital products, from initial design to implementation, with a focus on actuarial modelling, in line with Munich Re New Ventures’ strategy.
- Supporting the pricing of new Individual and Group Life and Health innovative products
- Includes assumption setting, cash flow, reserve and capital projections, assessing profitability from both a direct and a reinsurance perspective
- Demonstrating familiarity and understanding of Munich Re, industry and regulatory pricing processes, standards, requirements, metrics and tools.
- Supporting the negotiation of partnership agreements with optimal terms.
- Bachelor’s degree
- 3+ years of experience
- Near ASA or ASA required
- Product knowledge (including product design, features, and key risks) of life insurance products preferred
- Direct carrier Life insurance experience preferred
- GGY AXIS modeling experience with expertise in building and validating models preferred
Munich Re Life US aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe. We offer a highly competitive total compensation package that rewards hard work and success.