At a Glance
- Tasks: Lead pricing strategy for marine insurance, manage case reviews, and mentor junior team members.
- Company: Join Munich Re Specialty, a leader in Primary Specialty Insurance with a supportive culture.
- Benefits: Enjoy 25 days annual leave, hybrid working, and opportunities for professional growth.
- Other info: Collaborative team atmosphere with a focus on personal and professional development.
- Why this job: Make an impact in the marine insurance sector while developing your skills in a dynamic environment.
- Qualifications: Experience in Lloyd's Market pricing and strong mathematical/statistical knowledge required.
The predicted salary is between 70000 - 90000 € per year.
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.
We are looking for a Marine Pricing Lead to join our London City office on a full-time basis with hybrid working of 2-3 days per week. As part of our global actuarial team, you will drive data-led pricing strategy, shape underwriting decisions, and influence portfolio performance across a diverse and complex marine book.
Responsibilities
- Assume responsibility for the pricing for the Global Markets Marine 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 Marine classes 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 for the syndicate business planning process for the Marine portfolio.
- Construction, review and maintenance of pricing models for the Marine classes of business, in Excel and hyperexponential.
- Analysis of pricing model data including parameter validations.
- Production and review of pricing management information.
- 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 Marine insurance an advantage.
- Proven experience understanding a commercial insurance product intrinsically, to price renewals with little/no claim experience.
- 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.
- Ability to work independently, managing the Marine 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.
Benefits
25 days Annual Leave +
Marine Pricing Lead in London employer: Munich Re
At Munich Re Specialty – Global Markets, we pride ourselves on fostering a dynamic and inclusive work culture that empowers our employees to excel. As a Marine Pricing Lead in our London City office, you will benefit from hybrid working arrangements, extensive professional development opportunities, and a supportive team environment that encourages innovation and collaboration. Join us to be part of a leading insurance provider where your contributions directly impact our success and the satisfaction of our clients.
StudySmarter Expert Advice🤫
We think this is how you could land Marine Pricing Lead in London
✨Tip Number 1
Network like a pro! Reach out to industry professionals on LinkedIn or at events. A friendly chat can open doors that a CV just can't.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Show us you’re not just another candidate; demonstrate your passion for marine pricing and how you can contribute to our goals.
✨Tip Number 3
Practice your pitch! Be ready to explain your experience and how it aligns with the Marine Pricing Lead role. We want to hear how you can drive data-led strategies and support our team.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, we love seeing candidates who take that extra step.
We think you need these skills to ace Marine Pricing Lead in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Marine Pricing Lead role. Highlight your relevant experience in pricing and marine insurance, and don’t forget to showcase your mathematical and statistical skills. We want to see how you can bring value to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for the role and how your background aligns with our goals at Munich Re Specialty. Be bold and show us your passion for marine pricing!
Showcase Your Communication Skills:Effective communication is key in this role. In your application, demonstrate how you've successfully communicated complex ideas in the past. We love candidates who can translate technical jargon into business terms, so let that shine through!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows us you’re keen on joining our team at Munich Re Specialty!
How to prepare for a job interview at Munich Re
✨Know Your Numbers
As a Marine Pricing Lead, you'll need to demonstrate your strong mathematical and statistical skills. Brush up on key pricing models and be ready to discuss how you've applied them in past roles. Prepare to explain complex concepts in simple terms, as effective communication is crucial.
✨Showcase Your Experience
Highlight your significant pricing experience in the Lloyd’s Market. Be prepared to share specific examples of how you've managed case pricing reviews or developed tools for pricing analysis. This will show that you understand the intricacies of marine insurance and can handle the responsibilities of the role.
✨Be a Team Player
Since mentoring junior team members is part of the job, think of examples where you've successfully trained or supported others. Discuss your approach to teamwork and how you foster a collaborative environment. This will resonate well with their culture of support and development.
✨Understand the Bigger Picture
Familiarise yourself with the Lloyd’s oversight framework and FCA regulations. Be ready to discuss how you ensure compliance while driving good conduct in your work. Showing that you grasp the broader implications of your role will set you apart as a candidate who is not just focused on numbers but also on ethical practices.
