Job Description

Location

Mumbai, India

Job type

Full-Time

Work mode

Hybrid

Job level

Professional

Job ID

10507

Company

Munich Re

Employment type

Regular

Area of expertise

Claims & Underwriting

Across Asia Pacific, Middle East and Africa, we operate life and health and non-life reinsurance as well as primary insurance businesses, providing global career development opportunities and prospects to more than 1900 team members in 20 locations. We started supporting clients in the Indian market in 1951 and established our India Branch in Mumbai in 2017 to service the Non-Life and Life reinsurance markets in India, Sri Lanka and Bangladesh.

Your Role:

To proficiently & prudently appraise risk for high sum assured cases life & health insurance applications, thereby enhancing profit and overall growth of MRIB Ensures underwriting decisions generated are in line with Munich Re philosophy and the applicable underwriting manual where appropriate within agreed turnaround time Enable client companies to deliver their projects related to risk management Managing complex life and health portfolios across multiple geographies, optimizing new business operations, driving digital innovations to meet broader business goals for all clients of MRIB. In-depth underwriting experience in both traditional and emerging risk environments. Team player to drive operational excellence by establishing robust framework for risk assessment with early detection of frauds. Operational focus to reduced turnaround time and elevated client satisfaction and trust.

Key Responsibilities:Expertise to deliver high quality prudent risk assessment decisions by Underwriting for medical, financial and special risks for high sum assured cases within the scope of assigned underwriting limits as per Munich Re underwriting Philosophy. As a member of the Life & Health team based in Mumbai office of Munich Re India Branch, role will be to build and maintain client relationships as well as to provide risk management related services to MRIB clients, in accordance with the agreed terms. Recognize imperative risk factors and understand insurable risk and financial justification to make strong decisions; ensure appropriate documentation to support these high value cases. As a team member, contribute towards Quality assignment - Peer Review and adopts a partnering approach when carrying out underwriting audits along with Process review audits of clients. Demonstrate effective time management, conflict resolution and presentation of alternative solutions Participate in activities related to internal and external training programmes and provide training to clients regarding the underwriting approach(es) and all the implications thereof as per Munich Re Standards Required to work as a member of a high-performance team and to demonstrate and develop adequate technical and interpersonal skills, so candidate can strongly contribute to achieving MRIB commercial objectives. Participates in departmental or companywide activities and projects regarding underwriting and related fields. Represent and promote Munich Re at industry meetings, business travel to client's offices for participating on external reviews/audits or client engagements. Established demonstration of drive and initiative to improve processes, underwriting guidelines and/or client perceptions with participation on team projects as required

Your Profile:

Education & Experience:
Minimum 12 years' in Life & Health insurance underwriting, preferably with reinsurance/ regional/international exposure as High Sum Assured Underwriter Degree holder. Medical or Life Science qualification would be preferred Strong Microsoft Office skills Strong knowledge of medical terminology, anatomy and physiology with impaired / substandard risk experience

Good to have:15+ years' experience of direct underwriting experience for South Asia business Qualified medical Doctor with expertise in TMT and ECGR interpretation Professional Life Insurance qualifications e.g. ALMI, FLMI, AALU, FALU, CLU Excellent analytical, decision making and problem solving skills Self-disciplined, with the ability to work autonomously

Competencies:Innovative approach for prudent risk management Client focused (both external and internal) Creative, flexible, self-motivated and responsive Highly adaptable to a rapidly changing environment
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.