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About UK Life Branch:
With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.
At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.
About the role:
The role holder is responsible for supporting the delivery of Predictive Analytics initiatives to support growth across all its lines of business by harnessing data-model-driven insights to meet our ambitions.
Key Responsibilities:
- Deliver the Predictive Analytics roadmap to deliver data-model driven stakeholder value for UKLB and our clients.
- Provision of advanced pensioner demographics and mortality basis based on optimal exploitation of newly acquired data sets, enabling a build-up of a competitive Flow proposition, and enhancing accuracy and efficiency to expand the overall Longevity business portfolio.
- Identify potential solutions to support the Protection line of business on new propositions across underwriting, claims and distribution where Predictive Analytics can deliver new insights and solutions to reduce friction.
- Conceptualize and offer analytics products and services to internal and external stakeholders along the whole value chain by using modern statistical methods like GLM, machine learning and where applicable, Knowledge Graphs and Large Language Models.
- Development of culture, policies (including review) and strategy relating to predictive analytics for pricing and ToT (terms of trade) review.
- Maintain knowledge on emerging GenAI and data scientist practices and share within the team.
- Collaborate with cross-functional and regional teams to promote data-driven decision-making culture, and provide training and support to employees on data analytics best practices.
- Establish and maintain robust data and analytics governance frameworks, policies, and procedures to ensure quality, security, and compliance with industry regulations.
- Develop strong client-focused relationships with the other Pricing teams as well as the commercial Longevity and Protection teams. Construct an important branch wide network of contacts.
- Input in to team discussions to help set the direction of the team, inputting in to non-technical topics (including people and culture).
Competencies:
Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.
Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.
Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.
Key Skills & Experience:
- Practical experience in statistical modelling, machine learning, text mining and data visualization tools
- Previous experience in life or health insurance, direct and/or reinsurance is desirable.
- Proficiency in data manipulation, statistical analysis, and predictive modelling using tools such as R, Python, SAS, or similar.
- Experience with the following is a plus: Azure components, Databricks, graph analytics, GenAI, Large Language Models, Knowledge Graphs.
- Experience with data visualization tools, such as Tableau or Power BI, to communicate analytical insights
- Excellent communication and interpersonal skills to effectively collaborate with clients and team members. Ability to communicate technical concepts to different audiences.
- In-depth knowledge of state-of-the-art machine learning algorithms
- Ability to work on various projects at one time in a structured and independent way
- Highly motivated, proactive and innovative mindset, with a passion for leveraging data and analytics to drive business value.
- Confidence and diplomacy to challenge peers and manage upwards.
- Ability to build an understanding of internal and external client strategy and needs.
Qualifications and Educational Requirements:
- Degree, Master's degree or Ph.D. in a relevant field such as Computer Science, Statistics, Economics or Applied Mathematics.
Thought Leaders:
You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.
You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
You will treat your colleagues and sales and business partners fairly and with respect.
Regulatory & Conduct Requirements:
- In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
Benefits:
You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%
We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.
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!
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.
