At a Glance
- Tasks: Lead pricing for Cyber portfolio, manage reviews, and develop pricing models.
- Company: Dynamic insurance firm in London with a focus on innovation.
- Benefits: Hybrid working, competitive salary, and opportunities for professional growth.
- Other info: Mentorship opportunities and a supportive team environment.
- Why this job: Join a cutting-edge team and shape the future of Cyber insurance.
- Qualifications: Experience in pricing and strong analytical skills required.
The predicted salary is between 60000 - 80000 € per year.
We are looking for a Cyber Pricing Lead to join our London City office on a full-time basis with hybrid working of 2-3 days per week in the office.
Responsibilities
- Assume responsibility for the pricing for the Global Markets Cyber portfolio, including managing and appropriately prioritising case pricing reviews, development of tools and ad-hoc analysis independently and in a timely manner.
- Work autonomously on individual pricing assessments of large risks and binder reviews for the Cyber class of business, including clear communication of results to the underwriters.
- Effectively manage, mentor and support more junior team members, including providing training and reviewing their work as required.
- Uphold the high standards indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of delegated underwriting contracts.
- Support the syndicate business planning process for the Cyber portfolio.
- Construct, review and maintain pricing models for the Cyber class of business, in Excel and hyperexponential Renew.
- Analyse pricing-model data including parameter validations.
- Produce and review pricing management information.
- Conduct new-business initiative analyses and independent reviews.
- Support underwriting within depth-portfolio analyses and performance management.
- Ensure all advice offered is in line with TAS requirements.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
- Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
Knowledge and Skills
- Significant pricing experience in the Lloyd’s Market.
- Experience with Cyber insurance is an advantage.
- Proven experience understanding a commercial insurance product intrinsically to price renewals with little or no claim experience.
- Highly developed mathematical / statistical knowledge in (re)insurance.
- Effective communication skills and ability to translate complex models into business terms.
- Strong business acumen and interpersonal skills.
- Team player and willingness to train junior members in the team.
- Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment.
- Knowledge of a range of modelling techniques and applications for pricing.
- Current Lloyd’s market knowledge.
- Ability to work independently, managing the Cyber pricing portfolio.
- Willingness to continue to develop knowledge of any pricing-related matters.
- Knowledge and understanding of FCA regulations and Lloyd’s standards.
- Knowledge and understanding of the underlying principles of insurance and reinsurance.
All candidates in consideration for any role can request a reasonable adjustment at any point in the recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Cyber Pricing Lead employer: Munich Re Specialty - Global Markets, UK
Join our dynamic team as a Cyber Pricing Lead in our London City office, where we foster a collaborative and inclusive work culture that prioritises employee growth and development. With hybrid working options and a commitment to mentoring, you'll have the opportunity to lead pricing strategies for our Global Markets Cyber portfolio while enjoying the vibrant atmosphere of one of the world's leading financial hubs. We offer competitive benefits and a supportive environment that encourages innovation and excellence in the insurance sector.
Contact Detail:
Munich Re Specialty - Global Markets, UK Recruiting Team
StudySmarter Expert Advice🤫
We think this is how you could land Cyber Pricing Lead
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that Cyber Pricing Lead role.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your pricing experience and any relevant projects you've worked on. We want to see how you can bring your expertise in Cyber insurance to the table, so don’t hold back!
✨Prepare for the Interview
Do your homework before the interview! Understand the company’s Cyber portfolio and be ready to discuss how you can contribute. We recommend practising common interview questions and preparing some insightful questions of your own to show you’re genuinely interested.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive and take the initiative to reach out directly.
We think you need these skills to ace Cyber Pricing Lead
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Cyber Pricing Lead role. Highlight your relevant experience in pricing, especially within the Lloyd’s Market, and any specific skills related to Cyber insurance. We want to see how your background aligns with what we’re looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you’re passionate about the Cyber class of business and how your skills can contribute to our team. Keep it concise but impactful – we love a good story that connects your experience to our needs.
Showcase Your Analytical Skills:Since this role involves a lot of data analysis and pricing model construction, make sure to highlight your mathematical and statistical knowledge. Share examples of how you've successfully managed pricing assessments or developed tools in previous roles – we want to see your analytical prowess!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our company culture there. Don’t miss out on this opportunity!
How to prepare for a job interview at Munich Re Specialty - Global Markets, UK
✨Know Your Numbers
As a Cyber Pricing Lead, you'll need to demonstrate your strong mathematical and statistical skills. Brush up on key actuarial methods and be ready to discuss how you've applied them in previous roles. Prepare examples of pricing models you've constructed or reviewed, and be ready to explain the rationale behind your decisions.
✨Communicate Clearly
Effective communication is crucial in this role. Practice translating complex pricing models into simple business terms. During the interview, aim to showcase your ability to convey technical information clearly, especially when discussing past experiences where you had to explain results to underwriters or team members.
✨Showcase Your Team Spirit
This position involves mentoring junior team members, so be prepared to discuss your experience in training and supporting others. Share specific examples of how you've helped colleagues grow in their roles, and highlight your collaborative approach to working within a team.
✨Stay Current with Industry Trends
Demonstrating knowledge of the Lloyd’s market and current trends in cyber insurance will set you apart. Research recent developments in the industry and be ready to discuss how they might impact pricing strategies. Showing that you're proactive about staying informed will impress your interviewers.
