KBC Actuary Internship Actuarial department Non-Life

Company name

KBC Insurance

Place

Leuven
Belgium

Our Company :

This internship is specifically meant for students (1st or 2nd master in Insurances or Financial and Actuarial Engineering) !

Department background

Within KBC Insurance, the Actuarial Department Non-Life (SAC) is part of the Non-Life Product and Claims policy Direction. Within the Non-Life Product and Claims policy Direction the Actuarial Department is, among other tasks, charged with the actuarial support in :


Product development;

- Monitoring the Profitability of our Portfolio;

Reserving Policy;

- Cash Flow Projections and Best Estimate Calculations (Solvency II and IFRS 17)

Position

Depending on background and field of interest the actuary can focus on a specific domain or can be working in more domains.

Ongoing projects

- Solvency II

- IFRS 17

- Best Estimate Analysis and Other Parameter Calibrations;

- Process Improvements

- Product Development

- Reserving Policy

- Calculation of Flat rates

Planned projects:

As well in the field of Solvency II and IFRS17 as in the field of Product development and in the field of Reserving Policy we have projects planned for the upcoming year(s).

Possible traineeship assignments

During your traineeship you will have the opportunnity to contibute in the different fields.

The Job / Responsibilities :

Responsibilities

Product Development

Setting the correct technical premiums for products and segments based on underpinned models;

In collaboration with the product development groups translating the technical premiums into profitable market premiums;

Set Up a Business Plan when new products are introduced, are existing products are adapted and this in collaboration with the product development groups.

Monitoring the Profitability of our Portfolio:

- Periodic reporting on the profitability of our product lines;

- In depth analysis if adverse tendencies are detected.

Reserving Policy:

- Setting adequate Flat (reserving) rates to be used in claims handling;

- Monitoring the adequacy of the outstanding reserves;

- Calculating IBNR en IBNER reserves.

Cash Flow Projections and Best Estimate Calculations

- These are important parts of the Solvency II process. The actuarial department Non-Life has a central role in the implementation of Solvency II in the Non-Life Business.
Next to Best Estimate Calculations and other Parameter calibrations, also the Solvency II compliant documentation of these is an essential part of the work of the actuarial department

- Making our cash flow projection proces and BE calculations ready for IFRS 17

Your profile :

From a technical point of view,

- You are currently a student (1st or 2nd master in Insurances or Financial and Actuarial Engineering).
- You have strong written and oral communication skills in English.

From a personal point of view,

- You are a team player, but can focus on individual assignments independently when necessary.
- You are dynamic, creative and show initiative.
- You have strong analytical skills allowing you to dig into a lot of information quickly and formulate relevant messages in an easy-to-understand, structured way.
- You are well organized and structured in your tasks, setting ambitious goals for yourself and respecting deadlines.
- You are eager to learn but also to share knowledge. You have a drive to continuously extend your knowledge.

We offer :

You can count on KBC for:

- active support during your career,
- an exceptional range of training and development opportunities,
- many different career opportunities,
- a permanent contract,
- a competitive salary package, including an extensive package of additional benefits and special terms for employees for our banking and insurance products,
- possibilities to integrate your work and private life,
- a dynamic working environment with an open culture and pleasant atmosphere.


(Kindly make reference to Banking Boulevard when applying for this position).
(Bedankt om naar Banking Boulevard te verwijzen als u solliciteert).
(Merci de bien vouloir faire référence au site-emploi Banking Boulevard lors de votre sollicitation).