Engineers at Munich Re

Munich Re offers engineers varied and interesting tasks, especially in facultative underwriting (i.e. the assessment and acceptance of individual risks) and in the claims departments when performing loss investigations.

Range of activities in facultative underwriting

In facultative underwriting, large individual industrial and commercial risks require analysis and assessment. Examples are petrochemical plants, large power plants, steel works, dams, roads, tunnels, underground railways and certain high-rise buildings. In addition, engineers draw up reinsurance offers and analyse reinsurance proposals for large engineering risks. They carry out safety and technical assessments and rate (i.e. price) industrial and commercial engineering risks.

Other tasks

• Providing technical and administrative risk services
• Writing business within a predefined scope of authority
• Conducting risk and claims inspections and evaluating the results
• Drafting loss prevention recommendations
• Analysing economic and technological trends
• Cultivating technical expertise, evaluating risk data and compiling specific statistics

Requirements in facultative underwriting

• Engineering studies and several years of experience in a specialised field
• Broad-based knowledge of important strategic or technological topics such as energy and water supply, petrochemical plants or infrastructure measures
• A solution-based approach to the job, analytical thinking, high degree of commitment, good team spirit and confident manner
• Very good English skills – other languages an asset
• Willingness to travel to foreign countries and spend an assignment period in one of the business units of our international organisation

Range of activities in the claims department

In the claims department, our engineers assess claims in accordance with engineering, business-management and underwriting criteria. Together with the underwriters, they advise clients and contribute their findings for loss prevention and minimisation. Engineers initiate and perform claims and risk inspections. They then give recommendations or appoint loss adjusters. They assess the quality of the risks and estimate the PML (probable maximum loss) of major risks, providing the basis for facultative underwriting.

Other tasks

• Deciding, within the predefined scope of their authority, whether the (re)insurer is liable to pay claims and, if so, to what extent
• Developing concepts and conducting research on loss prevention and minimisation in close collaboration with materials testing laboratories, restoration companies, industry and universities
• Defining recourse opportunities and ensuring that they are taken
• Making statistical evaluations
• Helping to organise and conduct seminars and workshops for clients, underwriters and the business units in our international organisation

Requirements in the claims department

• Engineering studies and several years of special experience
• Broad-based knowledge of important strategic or technological topics such as energy and water supply, petrochemical plants or infrastructure measures
• A solution-based approach to the job, analytical thinking, high degree of commitment, good team spirit and confident manner
• Very good English skills – other languages an asset
• Willingness to travel to foreign countries and spend an assignment period in one of the business units of our international organisation

Are you interested?

We look forward to hearing from you.