International Graduate Trainee Program - Claims Track
Location: Chicago, Illinois
Type: Full Time
Preferred Education: 4 Year Degree
4 Year Degree
3 openings available.
*Applicants requiring employer sponsorship of a visa will not be considered for this position.
As one of the world's leading reinsurance companies, Munich Re is dedicated to training all employees to reach the highest levels of insurance and reinsurance knowledge and to bringing that knowledge and expertise to our clients. The International Graduate Trainee Program is one way of accomplishing this critical goal. This selective, experience-based program offers comprehensive training for recent college graduates via three core components: foundational classroom training, hands-on rotational assignments and industry exams. Further details on each component are below.
Trainees will be paired with Sponsor Claims teams at the start of their 2 year program; upon successful completion of the 2 year program, Trainees will then join that Sponsor team as a fulltime Claims Specialist. The Sponsor team will be determined by the Company based on business need and an assessment of the match between a Trainee’s skillset and personality relative to a Sponsor team’s work and culture.
PROGRAM CORE COMPONENTS:
- Classroom training
Trainees will spend approximately 10% of their time in a classroom setting, learning about core business functions from internal subject matter experts. Trainees are expected to actively participate in and initiate classroom discussions, read related course material as requested, and utilize the knowledge gained during their rotations.
- Rotational Assignments
Trainees will spend approximately 90% of their time gaining hands-on experience about core business functions from internal subject matter experts. Rotations last anywhere from a few days to several months, and may take place in any of our domestic office locations. Trainees will also have the opportunity to spend time in one of our international offices and network with their global peers. During rotations, Trainees are expected to develop an appreciation for and understanding of the different business functions, always with an eye towards recognizing opportunities for future collaboration and efficiency once in their fulltime Underwriting role post-program.
- Industry Exams
Trainees are required to continue their education through the passing of relevant industry exams, outside of work time. This is in direct alignment with our corporate culture of continuous learning and improvement. Trainees will work directly with The Trainee Program Manager to identify appropriate exams, which may include the Property & Casualty Adjuster License exam, the Reinsurance Association of America Re Scholar program, the Institute's Chartered Property Casualty Underwriter (CPCU) exams, the CLM Claims College, and/or the CLM Litigation Management Institute, among others.
Successful candidates will possess the following skills/capabilities:
Bachelor’s or Master’s degree in Risk Management, Insurance, Legal Studies, Actuarial Science, Math, Statistics, Economics, Finance, Accounting, Business Administration, Business Analytics or other related field
GPA 3.25 and above
Superior communication skills (oral and written)
Excellent interpersonal skills
Strong analytics capabilities
Ability to think strategically and function tactically
Innate curiosity and self-motivation
Flexible working style, able to work independently, with in-person colleagues and as part of remote teams
Demonstrated leadership abilities in college or community activities
Prior internships (at least one internship with meaningful degree of responsibility)
At Munich Re, 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.
As a member of Munich Re's US organization, we offer clients 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.
We analyze risks from a variety of different angles and deliver holistic insurance solutions. We work with interdisciplinary teams throughout Munich Re and its network of external experts to constantly analyze technological, social and legal developments, identifying trends, considering future scenarios, and ensuring our competence continues to grow. That is how forward-looking solutions for tomorrow's world are born. If your passion is to do exceptional things, and you are looking for a company that values your contributions, promotes value-oriented culture and rewards performance with opportunities for skill development and career advancement, then join our team. Experience a unique diversity of individual skills, challenging tasks, and what it means to always be a step ahead due to our ambitious and appreciative work environment.