Angela Maria Demeyere

Name: Angela Maria Demeyere
Age: 23
Role: Underwriting graduate trainee
Company: Munich Re
Degree/ University: Economics, City University

Why did you choose the insurance industry?

Insurance is one of the world's most important service industries and an invisible export. It's a necessity that most people have to have, whether it's for personal or business cover. I've always been interested in learning how claims payments were funded and how risk was assessed.

I get a very competitive salary, but also the financial means to further my education. Flexible working hours and health schemes are further benefits. Graduate trainees here have the additional opportunity to spend eight weeks in Munich, learning about the company and reinsurance, and socialising with other graduates from around the world.

What have you done in your career so far?

After finishing my degree in July 2005, I worked part-time in a money transfer company, where I was in charge of looking after our existing clients and prospecting for new ones. There I had the opportunity to use my language skills.

In January 2006 I joined Munich Re's graduate trainee programme in the underwriting department. My main role is to underwrite life, critical illness, and income protection products on a daily basis. I also contribute to the overall managing of client relationships, client business plan preparation and carrying out project work.

What do you do in a typical working day?

Each day I receive a number of cases to underwrite. When I finish these, my mentor or one of my colleagues will check my work and give me feedback on each case. The decisions are then sent through.

Other than my underwriting responsibilities, I've also been assigned some projects to help me gain a broader knowledge of the reinsurance business. I'm responsible for preparing a weekly report for my team, which includes the number of cases we receive and the turnaround. This has made a big difference in our time management and therefore improved our performance as a team.

I'm also responsible for updating our internet-based program - a proprietary software tool, which is a guide for Munich Re's underwriters - and have also recently joined one of our client management teams.

The role of underwriters is extremely important in determining future claims and therefore the company's profit. We review each policy and assess how much risk is involved; based on this we decide if the risk is worth taking or not. If we decide to take on the risk, we would propose the terms.

What training have you received?

My training has mainly been focused on medical and financial underwriting. All my underwriting colleagues have been involved and they have each given me training in different underwriting topics. I've also attended internal and external talks to further my knowledge and to meet other underwriters in the industry.

I've found my training very useful, as it's been more insightful than I expected. It's helped me to truly understand our industry and the role I have within it. I've been assigned a mentor who helps me along the way in answering any questions I might have, and making sure my training is fulfilled.

In addition to my underwriting training, I've also been introduced to the work of other departments and members of the company and their role in Munich Re. I'm currently taking my CII exams, sponsored by the company. Munich Re has been very helpful and granted me study leave.

What do you enjoy most about your job?

I never thought I would enjoy my job so much! It's a role that is very varied and fulfilling. My knowledge of medical conditions and treatments is increasing daily and it's useful knowledge to have, not only for my job but also for my personal life.

Munich Re encourages me to grow, to learn and to be involved in other aspects of the company, not only underwriting. This has encouraged me to work harder so that I can make a difference.

The single most challenging aspect is time. Sometimes I find it difficult to fit all the things I want to do into my schedule so that I can be better at my job. I'm a perfectionist who wants things to happen "now" and that's not always possible.