Job description

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.


Munich Engine is a strategic innovation initiative of Munich Re which operates in two locations, Munich and New York City. The goal is to rethink underwriting and create an advanced next generation risk assessment engine. Munich Engine combines traditional actuarial methods with new machine learning capabilities and applying it on traditional and non-traditional data.


Our Data Science team builds models and new functionality which are core to our product. In the role of the Data Scientist, you will collaborate closely with underwriters, actuaries, our software and data engineers, and with relevant analytics teams across the globe in Germany, US and UK . You will apply advanced Machine Learning methods to build software solutions to solve our client’s most urgent problems.


We expect from you a high ability to work independently, a high level of motivation as well as a proactive approach to achieving our ambitious goals of Munich Engine. We are looking for a candidate who is excited about the rare opportunity to help us build not only a product but a whole new business model.


Your Job:


  • Apply advanced statistical and machine learning techniques to build models for risk scoring and pricing solutions that enable Munich Engine to provide the most accurate assessment of risks
  • Work with stakeholders to obtain a thorough understanding of the business needs and identify the best modelling approaches
  • Improve existing models by including new data sources and testing new modelling approaches
  • Work closely with our engineering team to deploy machine learning models
  • Provide data analytics support on regular and ad-hoc basis
  • Network with existing data science community at Munich Re

Qualifications : *Please include a link to your github profile with your application if available.


First and foremost, you will demonstrate a constant drive to add value to your team through your energy, enthusiasm and initiative. In addition, we are looking for the following qualifications:
  • Master's Degree in Computer Science, Engineering, Statistics, Mathematics or substantial coursework in relevant disciplines
  • Minimum three years of experience working as a Data Scientist
  • Strong knowledge of machine learning models and techniques
  • Fluency in Python and SQL
  • Experience building data visualizations
  • Experience explaining technical concepts to non-technical audience, and comfortable working in a cross-cultural hybrid team
  • Preferred, but not required
    • Experience with ML Ops, cloud computing and Spark
    • Insurance or financial services background

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.


We shape the future by offering employees the competitive framework to realize their personal and professional potential; if you are driven to take your career to the next level, it’s time to join Munich Re.


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.

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