Munich Re Specialty Insurance
| Company Name: | Munich Re Specialty Insurance |
| Company Website: | www.munichrespecialty.com |
| Job Type: | Full-time |
| Job Location: | New York, NY |
| Job Posted Date: | 20-04-2023 |
| Posted on: | jobscastle.net |
Job’s Overview:
Munich Re Specialty Insurance is seeking a Business Analyst (Smart Mobility) in New York, NY. Please take a moment to read the job post below if you are interested:
This role is open to: Princeton, NJ or NYC.
We would like to strengthen our team with an experienced and qualified business analyst with a strong focus on data analytics in the arena of commercial motor to maintain and expand our existing book of business in a technically very challenging market environment. You will support the management providing technical guidance and strategy input.
The Company
Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.
Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.
The Opportunity
Future focused and always one step ahead
Our Business unit in Munich Re Specialty Insurance (MRSI) looks after mobility clients in 3 main underwriting pillars: tech-enabled fleet, platform-based services and autonomous vehicles. We deal mostly with auto insurance, but touch also annexed casualty classes if needed by our clients.
Concentrating on technology and captured vehicle data, the purpose of this position is to support the production, underwriting and servicing of primary commercial auto accounts, that are submitted to and written through the Mobility UW Unit in accordance with the Underwriting Mandate, business appetite and profitably goals. The primary goal is to underwrite and support a technology enabled product which is expected to reduce losses, by using a patent pending tool to target preventable losses with collision avoidance and/or driver training/coaching systems. This role will manage the client and vendor relationships regarding technology, evaluate new technology options, and will also work on platform-based auto exposures coming out of Mobility as a Service the shared economy space.
In this position you will:
- Conduct detailed LossDetect® analyses for clients’ auto book of business and recommend technology safety solutions for mitigating loss. Present results internally and externally to brokers and clients.
- Independently or working with data scientist resource continually improve LossDetect® analysis capability. Perform sensitivity analyses of key model parameters and assumptions.
- Facilitate the technology implementation process working with client and tech vendor.
- Manage the client experience with the technology throughout the policy life-cycle.
- Analyze and gain insights from data, and present results through reports that aid decision-making.
- Conduct analysis to assess the results of safety tech to aid in the development of rates based on telematics data.
- Define needs and develop and/or work with resources to enhance reporting capabilities.
- Develop insurance business solutions based upon insights discovered from data. Engage in development of data enhanced pricing and product structures.
- Work with underwriters in our team, with actuary and product development to develop products and new underwriting approaches for our markets.
- Work with our marketing unit and our broker relationship leaders to enhance our market presence.
- Work with claims to enhance our ability to defend claims based on the captured telematics and video.
The Company is open to considering candidates in numerous locations, including NYC. The salary range posted below applies to the Company’s NYC location.
The base salary range anticipated for this position is $86,900.-$127,500., plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
Successful candidates will possess the following skills/capabilities:
- Bachelor’s degree in associated field (business, math/statistics, risk management). Graduate level degree is desirable.
- 5+ years of experience in business and data analysis
- Data analytics experience in one or more areas: Business intelligence, data mining, modeling, predictive analytics tools. Experience with telematics data a plus.
- Proficient in Office 365 software (Excel, PowerPoint, Access, Power Query and Power BI).
- Experience with SQL Tools (i.e. Data Bricks).
- Strong understanding of auto based telemetry and/or property & casualty primary insurance operations and reinsurance. Professional level insurance/reinsurance coursework a plus.
- Advanced analytical, problem-solving and communication skills.
- Project management skills a plus.
- Effective time management and organizational skills.
- Excellent presentation skills
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company – that’s among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.
As a member of Munich Re’s US operations, we offer the financial strength and stability that comes with being part of the world’s preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help you stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
Getting the Business Analyst (Smart Mobility) designation comes with some responsibilities. It would be a wise idea to take a few minutes to learn more about it so you can make an informed decision.
Applicants must meet the above-mentioned requirements in order to qualify for consideration to work as a Business Analyst (Smart Mobility).
By clicking on the apply now button, you will be redirected to the official recruitment website where you can fill out your application.
