Senior Business Interruption Underwriter, Originator

Senior Underwriter Epidemic Risk Solutions (m/f/d)

for the MR Markets Division – Epidemic Risk Solutions

Epidemic Risk Solutions (ERS) develops risk-transfer solutions for epidemic and pandemic risks for non-life, life, and public sector insurance. Epidemics are outbreaks of contagious diseases that severely impact corporations, the economy, and insurers\’ portfolios. Past epidemics led to significant revenue losses or significant additional expenses in many industries, e.g., tourism and travel, hospitals, and labour-intensive production sites. By better understanding and evaluating epidemic risk exposure, we try to turn this risk into an opportunity and globally advance the development of a new business field for Munich Re. Besides providing innovative solutions for businesses in various industry segments (e.g., non-damage business interruption), public sector and reinsurance products as well as transformation of these risks into capital market instruments are within the scope of ERS. The focus of this role will be on non-life business.

In this challenging and demanding context, we are looking for an experienced underwriter or originator to cover diverse inquiries in an international environment. The job has a strong focus on new business origination, structuring of adapted solutions, and execution of the underwriting process in an entrepreneurial approach.

This role is not filling an existing vacancy, but is intended to accelerate business development. This creates a certain level of flexibility in approach. We are open to consider both candidates with an excellent business origination network and a strong technical understanding, as well as candidates with a structuring background who are looking to move towards responsibility for business development.

YOUR JOB

• Development of our global business through (global) origination of new business via various sales channels (direct corporate business, reinsurance, reinsurance and retail brokers, and others)
• Assess and write epidemic risks in various lines of business with a focus on transaction structuring, risk assessment, and wording
• Identification of client needs for devising and structuring new or adjusted types of insurance coverage accompanied by bespoke services in cooperation with interdisciplinary team members
• Originate new customer relationships, maintain and intensify existing customer relationships
• Leading negotiations of transaction terms with corporates, brokers and cedents
• Manage deal teams across various departments, ensuring a smooth underwriting process
• Ensure high underwriting standards for the global ERS team
• Contribute to expanding and refining the wording base for epidemic risk business
• Manage the risk portfolio, including portfolio administration
• Active participation in internal approval processes for customer transactions and new product initiatives
• Pushing of market development and creation of visibility of the epidemic risk business expertise, securing opinion leadership, e.g., by presentations at workshops and conferences
• Quality assurance of solution proposals and related documentation, including perceived quality of customer interactions of Munich Re
• Advise deal teams on accumulation control via product design and appropriate risk management techniques, including structuring of distribution/offloading transactions
• Contribute to transforming risk in transactions of different types and legal forms
• Advance processes, data and tools for transaction and portfolio management and administration
• Support claims settlements and support determining the obligation to indemnify

YOUR PROFILE

• University degree in business, risk management & insurance, mathematics, law or a related subject
• 10+ years of business origination and underwriting experience, ideally in various lines of business, with a focus on complex non-standard business, including facultative business, industrial business, captives or specialty lines (non-life), or structured reinsurance
• Broad and strong industry network as a basis for new business origination and forming strategic partnerships with other institutions
• Strong understanding of legal implications and effectiveness of contract wordings
• Experience and track-record of independent structuring of new insurance products
• Proven expert knowledge of methods, tools and underwriting guidelines, capable of market standard setting
• Willingness to explore new product concepts and to expand own expertise
• Experience in dealing with clients at the senior executive level
• Exceptional presentation skills, particularly in the communication of complex ideas
• Ability to proficiently communicate technical and strategic features of transactions (such as pricing bases, accumulation risk management, reporting impacts, etc.)
• Intrinsic motivation, commercial instinct, out-of-the-box thinking
• Strong analytical and conceptual skills as well as parallel support for several complex projects and project team members – also in a cross-disciplinary, international and multicultural environment
• Confident and affable manner, negotiating skills and strong customer focus
• Preferably, experience from developed as well as emerging markets
• Commitment and willingness to travel
• Proactive and innovative in solving problems as well as high personal integrity and flexibility in a rapidly changing environment
• Independent, reliable, and consistent working style, but still a good team player
• Fluent English speaker (other languages are a plus)