About Facultative & Corporate:
Munich Re’s large, international network of experts places us in a strong position to develop solutions for highly complex risks. The sectors we serve and the solutions we offer are diverse, but they all share one thing in common: the substantial financial foundation of Munich Re. The industrial insurance arm of Munich Re Group, which means our clients are multinational corporations. We write both traditional and non-traditional insurances through 6 lines of business; namely, Property, Energy, Casualty, Engineering, Cyber and what we term Special Enterprise Risks. We overlay these underwriting activities with support from our Client Management and Claims & Operations units.
Our clients are complex, diverse, and domiciled across the world. Therefore, we also need to be global, and we do this by positioning staff in strategic markets and locations as well as travelling to meet clients. Close contacts are very important.
The Insure AI team is part of the New and Green Technologies business unit in Munich Re’s Specialty Insurance division. You would join an experienced international business unit structuring insurance and reinsurance solutions for risks of AI and Generative AI applications for corporates, financial institutions, and growth stage tech companies.
You will focus on working with London insurance brokers and corporate risk managers to structure insurance solutions for AI and Generative AI risks, like AI performance risk, Generative AI copyright infringement risk, and AI discrimination risk. You will collaborate with the team’s Research Scientists and other Underwriters in international deal teams to structure, measure, and insure such AI risks.
You will be based in London, UK. We are looking for an experienced Senior Underwriter with the ability to source and build business opportunities in AI in the London Market.
Key Responsibilities:
* Sourcing AI and GenAI (re-)insurance opportunities with London Market brokers for corporates, tech companies, and financial institutions
* Building the relationships with insurance brokers in the London Market
* Engaging with clients and colleagues in deal teams to underwrite the risks of machine learning systems and Generative AI models, and to support new product development
* Leading commercial negotiations with brokers and corporate risk managers for the developed risk-transfer solutions
* Collaborating with colleagues in traditional lines of business, like Cyber or Casualty, and marketing to drive the AI insurance market development
* Speaking at industry conferences and representing the Insure AI team at such events
Key Skills & Experience:
* Experience in a client facing role at a (re-)insurer or an insurance broker with experience in Cyber, Tech E&O, Professional Indemnity, or related insurance lines
* Excellent networking and partner management skills
* Experience with or interest to learn machine learning and Generative AI methods
* Willingness to develop an emerging market and navigate unchartered territory with enthusiasm and patience
* Innovative mindset, curiosity and willingness to lead
* Willingness to work in deal teams distributed across different time zones and continents
* Willingness to travel
Qualifications and Educational Requirements:
* Graduate degree in Business, Finance, Economics, Law, or related fields
Regulatory & Conduct Requirements:
* Ensure compliance with Insurance Distribution Directive
* Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
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