Pricing Analyst (Property)

Munich Re; London; On-site; GBP 35,000 - 65,000; Full time

Job description

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 Pricing Analyst to support Munich Re Specialty - Global Markets, specifically MRSL on a full-time basis in our London, Manchester, or Liverpool office.

Responsibilities

• Work on individual pricing assessments of large risks and binder reviews, with support from Senior team members, 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 and regular monitoring of Delegated underwriting contracts.
• Construction 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 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), ExCo, and Board for Conduct Risk.

Knowledge and Skills

• Highly developed mathematical/statistical knowledge.
• 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.
• 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.

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.

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.