Actuary testimonial

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Actuary - Munich Re

"Our calculations ensure the premium is right"

Katrin Hagestedt studied business mathematics and became familiar with the world of actuarial analysis as a graduate trainee in corporate pricing.

“My first contact with Munich Re was at a student workshop. Their reputation, international alignment and many large mathematics departments were the reason why I submitted my online application – with success. As a graduate trainee, I had the opportunity to experience the great variety the company has to offer. Already during the application process, I realised that my interests and professional aspirations fit well with the tasks and work areas in corporate pricing. Our calculations influence many of the company's processes. We determine which methods are used to calculate the price for the reinsurance cover and develop special pricing tools, which our underwriters use to set the premium. The different parameters such as premium volume and claim history of our clients are accounted for in our calculations.

“One of my most interesting tasks involved assuming direct responsibility for the development of an expert tool right after completing the graduate trainee programme. Our international team developed a modular toolbox used to calculate premiums for special financial reinsurance treaties or unconventional reinsurance covers. A complex task requiring considerable IT work! From the very beginning, I took advantage of our broad range of further training offerings including language and methodology courses in order to master all the challenges of my profession. I am also currently completing my training to become an actuary, which provides mathematicians with special schooling which focuses on both actuarial and economic aspects.”

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