Job Description

Munich Re is one of the top providers of reinsurance, primary insurance, and insurance-related risk solutions in the world. We are now recruiting several exciting Internships for students to join our team, starting in December 2023 or January 2024.

The purpose of these positions is to assist in the AXIS modelling project related to pricing, valuation, experience study, solvency and planning issues. The AXIS model is used for internal and external reporting, monitoring the performance of the company, its ability to meet future obligations, and for capital and investment planning.

Reporting to the Head of Actuarial Modelling & Experience Studies/Central Life Reserving Singapore Hub, you will work with other actuarial associates and actuaries in the Life & Health global team. Interns will be based on either of our teams and will involve the following responsibilities:

Your Job
(Modelling & experience Study focussed)

• Construct product feature related tables in AXIS
• Ensure appropriate assumptions including mortalities, lapses, interest rates and expenses for specific life health products
• Ensure accuracy of cash flows for Business Projection, pricing, valuation, experience study and Embedded Value
• Maintain and enhance data control processes and systems used for financial reporting and experience study
• Assist for financial reporting and experience analysis issues in an within the department and to other departments such as Valuation, Pricing, Terms of Trade, Marketing, Underwriting and Claims
• Explore machine learning algorithms to assist with multivariate experience analysis

(Predictive Analytics focussed)

• Explore machine learning algorithms to gain insights from insurance data
• Develop user-friendly web interface to automate machine learning or experience study process
• Maintain and enhance experience study system and process
• Ensure appropriate assumptions including mortalities, lapses, interest rates and expenses are used for specific life health products
• Ensure accuracy of cash flows for Business Projection, pricing, valuation, experience study and Embedded Value
• Assist for financial reporting and experience analysis issues in an within the department and to other departments such as Valuation, Pricing, Terms of Trade, Marketing, Underwriting and Claims

Your Profile

• University Degree in Actuarial Science, Finance, Statistics, Mathematics or Computer Science
• Excel (can perform complex functions) (incl. VBA), SQL skills are required; AXIS, Python, Power BI skills are desired
• Superior attention to detail and accuracy
• Well-developed time management skills; ability to work independently while supporting the team work
• Effective communications skills (report writing and formal presentations)
• Basic knowledge of insurance/reinsurance products is preferable)

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

Munich Re