At a Glance
- Tasks: Lead pricing for property insurance, mentor team, and analyse pricing models.
- Company: Join Munich Re, a diverse and inclusive leader in the insurance industry.
- Benefits: Enjoy 25 days leave, private medical insurance, and a supportive hybrid work environment.
- Other info: Embrace diversity and innovation while contributing to sustainable business practices.
- Why this job: Make an impact in a dynamic role while developing your skills in a supportive culture.
- Qualifications: Experience in pricing and a degree in Maths or related fields preferred.
The predicted salary is between 70000 - 85000 £ per year.
This job is with Munich Re, an inclusive employer and a member of my Gwork – the largest global platform for the LGBTQ+ business community.
Please do not contact the recruiter directly.
At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Direct Property Pricing Lead
We are looking for a Direct Property Pricing Lead to join our team in the city of London for a 9 month fixed term contract with hybrid working of 2-3 days per week.
Responsibilities
- Demonstrate ownership of the Property open market business, including P&C, taking responsibility to ensure pricing reviews are undertaken in a timely manner and pricing models are developed and maintained as required
- Work with pricing actuaries and underwriters in MRS-GM European offices, providing pricing support and guidance where necessary
- Effectively manage, mentor and support your direct report(s), including managing their time, providing training and reviewing their work as required
- Work independently on individual pricing assessments of large individual risks, including clear communication of results to the underwriters
- Support pricing team in achieving the high standards as indicated within the Lloyd's oversight framework, including technical rating of all risks.
- Construction, review and maintenance of pricing models for varied classes of business
- Analysis of pricing model data including parameter validations
- Support for syndicate business planning process
- Production and review of pricing management information
- New business initiative analyses and independent reviews
- Investigation and utilisation of alternative data sources for parameterisation of pricing models
- 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), Ex Co and Board for Conduct Risk.
- Knowledge and Skills
- Significant pricing experience in the London Market
- Qualified actuary by exams OR extensive experience
- Significant experience with Property direct / facultative insurance an advantage
- Highly developed mathematical / statistical knowledge in (re)insurance
- Effective communication skills and ability to translate complex models in 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 an advantage
- 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
Education and Professional Qualifications Required / (preferred)
- University degree in Mathematics, Actuarial Science, Statistics, Economics or similar discipline.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway.
You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better.
Embracing the power of DEI is at the core of who we are.
We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.
Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.
You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty - Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment.
Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re - choose your impact!
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
- #Be Present #Be Bold #Be Curious
Direct Property Pricing Lead employer: Munich Re
As a leading insurance provider in Greater London, we pride ourselves on fostering a dynamic work culture that values collaboration and innovation. Our employees benefit from comprehensive professional development opportunities, competitive remuneration, and a supportive environment that encourages growth and transformation. Join us to be part of a team that is dedicated to making a meaningful impact in the insurance industry while enjoying the vibrant lifestyle that Greater London has to offer.
StudySmarter Expert Advice🤫
We think this is how you could land Direct Property Pricing Lead
✨Tap into Local Agencies
For temporary roles like the one at Munich Re, don't overlook local recruitment agencies that specialise in the insurance sector. They often have inside info on your local market and can help you get your foot in the door quicker!
✨Seasonal Opportunities Are Gold
Insurance companies often ramp up staffing for specific seasons, especially during peak times like annual policy renewals. Keep an eye out for those temporary gigs and be ready to jump in. Make sure you’re on our website regularly to catch those listings!
✨Network with Industry Pros
Join insurance-focused online platforms and forums to connect with professionals who can share insider tips about temporary roles. Attend local industry meetups or workshops to widen your network; sometimes it’s all about who you know!
✨Showcase Your Flexibility
For temp roles, employers are often looking for candidates who can hit the ground running. Highlight any previous experience you have in fast-paced environments on your profile or during interviews, so Munich Re knows you can adapt quickly to their needs!
We think you need these skills to ace Direct Property Pricing Lead
Some tips for your application 🫡
Highlight Relevant Certifications:In the insurance world, having the right qualifications can set you apart. If you've got any certifications like Cert CII or other relevant credentials, make sure they're front and centre on your CV. It shows you're committed to the industry and ready to hit the ground running!
Showcase Your Customer Service Skills:Insurance is all about helping clients through tricky times. Use your application to mention your previous customer service experience or soft skills like problem-solving and empathy. These are crucial for any temporary role in the insurance sector, so don’t shy away from flexing these muscles!
Tailor Your CV for the Temp Role:For a temporary position, it's all about demonstrating your ability to adapt quickly. Tailor your CV to highlight experiences that show you can jump in and make an impact immediately. Mention short projects, freelance gigs, or any fast-paced roles that show you thrive in dynamic environments.
Be Clear About Availability:In your cover letter, clearly state your availability for the temporary role. Since this is a short-term gig, emphasising your flexibility and readiness to start immediately can really catch Munich Re's eye. Remember, they need someone who can fit right in, so make it easy for them to see you as that person!
How to prepare for a job interview at Munich Re
✨Master the Basics of Underwriting
Since you're aiming for a temporary role in insurance, brush up on the basic principles of underwriting. Be ready to discuss how you would assess risks and make simple decisions on policy issuance, as these are likely to come up in technical questions.
✨Familiarise Yourself with Relevant Regulations
Insurance is heavily regulated, so it helps to be familiar with key regulations that affect the industry. Bring up any specific legislation you're aware of and how it could impact your work at Munich Re. This shows you're engaged and knowledgeable.
✨Highlight Your Flexibility
As it's a temporary position, it's crucial to stress your adaptability. Talk about previous experiences where you had to pick up new tasks quickly or adjust to changing needs. Employers will appreciate your willingness to jump in and get the job done without a long onboarding process.
✨Prepare to Discuss Claims Processing
Be ready to dive into discussions around claims processing, as this might be a big part of your role. Bring along examples of how you've approached problem-solving in past roles, especially if you've dealt with customer claims or insurance queries before. It's a great way to show your relevant experience.
