Cyber
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Cyber

Evaluate and develop risk solutions worldwide

Collaborating in multi-disciplinary teams, cyber experts at Munich Re nurture – and shape – a flourishing global market.

Success through combined expertise

Munich Re is one of the leading providers of cyber risk solutions worldwide - and we owe this to our strong Cyber Team. Our Cyber Professionals strive to research and develop opportunities and risks for the latest and most promising technological trends in diverse and interdisciplinary teams. Thanks to its innovative and groundbreaking work, Munich Re enjoys an excellent reputation as an expert in cyber risks among primary insurers and industrial clients.

Cyber experts need in-depth knowledge, experience & a pioneering spirit

Our Cyber Professionals are advancing Munich Re in various projects.

Productive teamwork & intensive research drive

Our employees use their collective cyber risk knowledge to develop markets worldwide and to design, customize and market cutting-edge cyber solutions. Their goal is to develop cyber insurance services and solutions for the entire value chain and to help customers close knowledge gaps in this area.

Designing effective coverages requires in-depth expertise, transferable experience from insurance markets and a certain amount of pioneering spirit. The foundation of success lies within a productive collaboration across the Cyber team in developing innovative risk transfer solutions. At Munich Re, we therefore use a unique, holistic team approach, combining traditional risk appetite with comprehensive service models.

Sarah Farahani, cyber actuary
© Myrzik & Jarisch
Cyber insurance is a relatively young class of business; We develop a lot from scratch, and much has yet to be defined. It’s exciting – each new market player, every new standard, triggers change.
Sarah
Munich Re Germany, Munich
Underwriter & Actuary in the Global Clients division

Apply now!

You are an expert passionate about your field and curious to explore new horizons. As a team player with excellent communication skills you thrive in diverse settings. You are all of this and more?

What we look for in Cyber Professionals

The urge to research and develop new innovative processes and approaches
Strong analytical way of thinking
Openness, creativity and strong communication skills
Ability to work in a team, social and intercultural competence

Current topics in the area of digitalization from
Munich Re

Malware attacks, data breaches, IT service provider failures and hacker attacks on critical infrastructure facilities are among the greatest cyber threats of the 21st century. In an increasingly connected economy, all market participants and value chains are exposed to these risks. If thousands of companies are simultaneously affected by a single event, a liability accumulation in the portfolio can cost an insurance company a great amount. Actively identifying, quantifying, modeling, managing and controlling cyber accumulation risks is therefore not only important for insurers, but essential.
Since the globalization of economic relationships and the shift towards a worldwide production and logistics network, companies have become more and more dependent on IT services. Disruptions to global production due to cyber incidents along supply chains or outsourced technology environments increase the importance of risk management and risk assessment. It is in the best interest of every company to avoid production downtime to minimize permanent loss of market shares and reputation. For this reason, there is a constantly increasing need to transfer this elevated risk to insurance. This exposure is highly complex and only in a few cases could the risk be properly assessed and adequately insured. Therefore, the insurance industry needs to analyze under what circumstances coverage for cyber repercussion losses can be offered.
The threat posed by cybercrime is growing. Munich Re is cooperating with Team8, a leading think tank and startup platform in the field of cyber resilience and data science to develop solutions against this growing threat.
Nr. 1
Market leader in cyber risk management
> 10%
With a market share of over 10%, Munich Re is the leading provider of cyber insurance solutions worldwide
50%
Only one in two cyberattacks involves money
141
141 years of experience in risk management
Torsten Jeworrek
© Andreas Pohlmann / Munich Re
Promising, future-oriented opportunities also entail inherent – and sometimes hidden – risks. In 2018 alone, we estimate the economic damage from cyber-attacks at US$ 600bn. Cyber will remain an active topic. And we accept this challenge.
Torsten Jeworrek
Munich Re
Member of the Board of Management
Munich Re invests specifically in know-how and in the expansion of networks
© Myrzik & Jarisch
Munich Re invests specifically in know-how and in the expansion of networks

Challenges in the cyber domain

The cyber domain is unique - not only due to the rapid pace of technological development and the constant emergence of new threats, but also because of global connectivity and the lack of standard coverages. Your job is to always stay up to date in this exciting field and to adapt to customer risks individually.
At Munich Re, cyber professionals work in teams with underwriters, actuaries and claims managers from traditional lines of business as well as experienced technologists and engineers in minimizing cyber risks. At Munich Re, teams use a global network of business units, technology companies, start-ups and security providers.
Andrea
© Myrzik & Jarisch
The product development work we do with our clients allows us to build strong relationships with clients. Positioning us as a strategic partner is a compelling – and important – aspect of my job.
Andrea
Munich Re Germany, Munich
Senior Underwriter Cyber Europe & Latin America

One area - diverse career opportunities

Cyber is one of the biggest challenges for the insurance industry. Munich Re offers you a wide range of opportunities: We have a variety of career options in all specialist areas relevant to cyber risks - at numerous locations worldwide. Where exactly you want your career to develop is largely up to you. We offer suitable programs for every career level so that you can help shape the world of tomorrow as part of our strong, global cyber team!
What the Hack! Working together against the emerging challenges of cyber risks

Career development: Cyber meets insurance in the Munich Re Cyber Pool

Assessing cyber risks requires approaches that go far beyond traditional insurance. From ransomware to DDoS to phishing, it takes IT expertise to understand not only risks themselves but the accumulation risk arising from a single realized cyber risk.

To stay competitive in the field of cyber (re)insurance, Munich Re has launched a global cyber expert programme unique in the insurance market, the Cyber Pool. The induction programme helps experienced IT professionals to acquire an additional qualification in underwriting and grow a career in the risk industry

The Cyber Pool in a nutshell

„Work and Learn“- training with department rotation
1 team project and additional off-the-job training
1 assignment abroad
15 to 18 months duration
Rupert
© Myrzik & Jarisch
The cyber expert pool gave me a remarkable opportunity to get my techie feet wet in the insurance business.
Rupert
Munich Re Germany, Munich
Member of the Cyber Pool

Apply now!

You are an expert passionate about your field and curious to explore new horizons. As a team player with excellent communication skills you thrive in diverse settings. You are all of this and more?