Collaborating in multi-disciplinary teams, cyber experts at Munich Re nurture – and shape – a flourishing global market.
Meet our cyber experts
Munich Re is one of the leading providers of cyber risk solutions worldwide. The company enjoys an expert reputation in cyber risk among primary insurers and industry clients alike. It owes its excellent standing to an early – and unwavering – commitment to mitigating the most considerable risk to a connected global economy.
Today, Munich Re leverages its cyber risk expertise to develop markets worldwide. Creating robust covers requires in-depth subject-matter expertise, transferable experience in insurance markets and a pioneering spirit. In short, for cyber risk transfer solutions, collaboration is vital. This is why Munich Re takes a unique team approach. Meet three experts at Munich Re, who innovate, design, tailor and market ground-breaking cyber solutions: Sarah, Andrea, and Kishore.
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.
Putting a price tag to cyber risks
As a Cyber actuary Sarah focuses on ways to quantify cyber risk. Located in the central cyber team in the Munich headquarters, she works with underwriters and cyber security experts from Munich Re across the globe.
Cyber is unique in terms of the fast rate of technological change, the evolving threat landscape, worldwide interconnections and the lack of standard insurance coverages. Understanding and developing models for accumulation is an essential part of Sarah’s work.
Appropriately pricing Cyber risks remains a challenge for the market as the underlying risk emerges. Sarah works closely with clients to understand their needs and provide innovative solutions – a task that benefits from her multicultural background, her London market underwriting experience and fluency in three languages.
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, trigger change.
The complexity and variety of cyber risks fascinate me. Cyber supply chains are more and more interconnected. Software or hardware components have vulnerabilities. The risk potential in our hyper-connected world is staggering. I love being part of a global team working on this global challenge – breaking new ground is a rewarding experience.
Analyze, test and explore: Matching solutions to real-world challenges
Kishore is part of the newly created cyber unit for Asia-Pacific and Africa. Along with his colleagues, he works on positioning Munich Re as the leading solution provider for cyber (re)-insurance in the region. As an expert with an extensive technical background, he helps to quantify cyber risk, understand the cyber threat scenarios and their insurance impact. To support clients in closing skill and knowledge gaps in cyber risk transfer, he provides training, consultation, and workshops.
He acts as a project manager and technical consultant in the development of IT products and services that enhance Munich Re’s cyber insurance offerings. With colleagues from different units, Kishore evaluates various service providers – pre- and post-cyber incident. Their evaluations are instrumental in setting up and enriching the Munich Re cyber incident response network for insurance clients in various regions of Asia-Pacific, the Middle East, and Africa.
Innovation is an integral part of my job. I work with clients to co-create insurance products that address market needs, consider the local threat landscape, and meet regional legal and regulatory requirements.
It’s exciting to shape this market. At the start of my career, there were no cyber-risk transfer solutions. You avoided the risk or took the risk. When Munich Re came up with the idea, I was intrigued – intrigued enough to change careers. It’s a misconception that insurance is paperwork only. A lot of what we do is hands-on: assessment, testing, and talking to clients.
Bringing insurance expertise and experience to an emerging risk market
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.
Interested in a career in an international environment, Andrea joined Munich Re as an apprentice in insurance and finance in 2009. Since then, and while continuing to work full-time, she obtained a bachelor’s degree in international management, followed by an Executive Master of Insurance, a degree programme co-designed and supported by Munich Re.
Today, Andrea is the senior underwriter responsible for Munich Re’s Cyber business in Latin America. She develops Munich Re’s cyber insurance product with primary insurers in the region. Fluent in Spanish, English, and German, Andrea dedicates the lion’s share of her time to sharing her expertise with clients. As a versatile specialist in cyber insurance, Andrea also manages reinsurance contracts, analyses and negotiates single cyber risks, monitors the portfolio, and innovates solutions with her colleagues. Keeping track of legal and regulatory developments in Europe and Latin America is another essential part of her work.
The chance to challenge myself, to grow and learn is the best perk of my job. Munich Re has created an environment where you can build a career and take it into a direction you care about. For me, that’s cyber risk transfer. Raising awareness, connecting and innovating with people, staying ahead of the curve – it all makes for excellent job satisfaction.
Munich Re offers a world of career opportunities in cyber risk transfer
At Munich Re, underwriters, actuaries, claims professionals, cyber experts in traditional lines of business as well as technologists and engineers with years of real-world experience in minimising cyber risk collaborate in teams. These teams leverage Munich Re’s globe-spanning ecosystem of business units, technology companies, start-ups and security providers. Their objective: to provide groundbreaking cyber insurance services and solutions along the entire value chain and help clients close related knowledge gaps.
Munich Re offers career opportunities in all areas of expertise relevant to cyber risks at business units all over the world. Shape how governments, businesses, and people interact with cyber technologies – join us!
Career development: Cyber meets insurance in the Munich Re Cyber Pool
As an engineer, my job was to minimise cyber risk. Munich Re offered a new angle – cyber risk transfer. Munich Re’s learn-on-the-job programme, Cyber Pool, allowed me to take the lateral leap into a new career in cyber insurance and reinsurance.