Actuaries analyse the financial side of risk
Do you have a passion for numbers, data and statistical models? Actuaries play a strategic role in the success of our business.
How to put a price tag on an unlikely event
Munich Re gives you as much space and flexibility to grow your career as you can dream of. Switching jobs geographically, laterally, or moving into a different department are all feasible options thanks to global development and transfer programmes.Vicky WangMunich Re, Canada, TorontoAssistant Vice President, Pricing
What we look for in actuaries
Meet our actuaries
Research and development: Creating methods and tools for underwriters
Accompanying the full software development life cycle, Janett works with underwriters, data specialists and IT to keep Munich Re’s pricing software state of the art.
She tracks the latest in actuarial research and monitors the market, changes in underlying data and availabilities of assumptions. She considers how indicators – such as the loss history of a cedent’s portfolio or the rising popularity of financial constructs – influence pricing mechanisms. To outline specs of new features, Janett taps into the experience of underwriters in the field, while her work on the calculation kernel offers more mathematical challenges.
Janett also trains co-workers in pricing software and new features. To communicate actuarial content to her non-actuarial audience, she breaks down complex concepts into ideas that resonate – and spark productive exchange.
solving tasks and problems
What do you enjoy about your work?
Reinsurance is complex and evolves in step with the world around us. Its challenges in math, statistics and stochastic, appeal to the mathematician in me. My talented, knowledgeable colleagues with diverse backgrounds across the world enrich my life.Janett BudeMunich Re Germany, MunichActuary in Corporate Underwriting, Pricing, Systems & Analytics
Is there a personal favourite among the projects you’ve handled?
Project lead for a pricing tool for complex reinsurance structures was an inspiring experience. In a team spanning the world, people pulled together with focus and drive building a solution that sets the bar at the level of certified products.Janett BudeMunich Re Germany, MunichActuary in Corporate Underwriting, Pricing, Systems & Analytics
Wearer of two hats: Assessing risks both individually and at the macro level
Vicky leads the pricing function at Munich Re Canada. Vicky and her team support and collaborate closely with underwriting, client management, reserving, and finance. Their focus: to help safeguard the profitability of our existing portfolio whilst pursuing new growth opportunities.
Responsible for pricing in both the reinsurance and the primary-insurance branch, Vicky assesses business portfolios, group programmes as well as individual single risks. These tasks differ in focus, complexity and granularity.
Each requires different approaches, knowledge, and experience as well as an agile mind able to switch back and forth between challenging tasks throughout the day. Her job takes Vicky out of country about 2 to 3 times a year. She has just completed a 6-week secondment with our Sydney office where she supported MHA’s Casualty treaty July 1 renewals. Her insights into sites and markets are valuable, not only to her own work but to Munich Re’s innovation teams. As part of her process, she also contributes feedback on potential gaps in risks models to support rollouts of pricing tools. Vicky is an Associate of the Canadian Institute of Actuaries,
within Munich Re
with internal and external clients for primary-insurance pricing
solving tasks and problems
including work on the innovation team
What do you enjoy about your work?
The corporate culture and global talent pool evoke a fulfilling sense of belonging. When I encounter a tricky issue, I can pick up the phone and call someone who will help or refer me to an expert. It’s amazing how Munich Re encourages these exchanges.Vicky WangMunich Re Canada, TorontoAssistant Vice President, Pricing
Could you tell us about projects you’re involved in?
I get to work on great projects. An idea we pitched in our innovation team has turned into a group project and we’re still involved. Some exciting projects in our Casualty Long-tail Pricing Expert Group are now in implementation. I love the variety.Vicky WangMunich Re Canada, TorontoAssistant Vice President, Pricing
