CAT Reinsurance Data Base Engineering - (F/H) - Stage

Job description

Environment:

The AXA Group

AXA Group Risk Management Property & Casualty (GRM P&C) deals with the most sophisticated P&C challenges of a leading international insurance company, among which the management of natural catastrophe risk (CAT). Natural variability of climate and seismic activities have demonstrated their devastating potential, climate change bringing additional uncertainty for the future.

AXA's rapid expansion – both in terms of geographical footprint and P&C insurance offer – widely exposes AXA to natural perils, being in charge of the financial protection of its clients and helping them live a better life.
In this context, AXA must maintain state-of-the-art CAT risk management techniques through permanent innovations.

The Departments

The internship will be based at the AXA Group Risk Management (GRM) department.

AXA GRM brings together high level and multidisciplinary staff with engineers, actuaries and financials split between Paris, Zürich and Madrid. Its main missions are focused on analysing, modeling and aggregating the Group's risks (economic capital); implementing the process enabling to limit the undertaken risks (risk appetite, assets accumulation, longevity, natural catastrophe...) and optimizing the Group protections (reinsurance, securitization, hedging, etc.).

Within the P&C department, the intern position belongs to the GRM P&C CAT & Reinsurance Risk team (15 FTEs) which is organized in three excellence centers (CAT DATA R&D, R&D Modeling and Reinsurance). The intern will join this dynamic team dedicated to the monitoring and the modeling of Natural Hazard risks borne by the company.

As part of AXA's Internal Model under the Solvency II framework, the GRM P&C CAT/RI teams are primarily in charge of delivering the annual CAT modeling process, mainly consisting of:
· Collecting CAT exposure data (geographical, physical and financial information) on a per-entity (AXA France, AXA Mexico, AXA Philippines…) and per-location basis (houses, factories, vehicles etc);
· Assessing the risk on a per-entity per-peril basis (cyclones, earthquakes, floods, hailstorms...)
· Estimating the efficiency of the Group Reinsurance covers
The CAT modelling process has strong strategic and operational impacts since it feeds the Economic Capital, Economic Combined Ratio and CAT budget calculations which drives the earnings and the solvency position of AXA Group and determines adequate levels of reinsurance needs, which may boost or hinder profitability.

The CAT Reinsurance Data Base Engineer will play a strong role in the standardization of the reinsurance treaties and the implementation of key metrics to support the risk mitigation assessment and boost the understanding of the reinsurance performance.

Role and Responsibilities:

The reinsurance framework operated in AXA Group regroups diverse structures with complex mechanisms which must be accurately implemented in the reinsurance model to enable the risk assessment.

The accuracy of the CAT risk results is strongly impacted by the integration of the reinsurance treaties and mechanisms as an input data. The objective of the internship is to understand, reference, standardize and implement a reinsurance treaty database within the modeling framework to improve and eases the reinsurance modeling process:
· Read, understand and reference the reinsurance treaties based on historical AXA books of reinsurance
· Build a structured database to standardize the reinsurance treaty information and characteristics
· Implement innovative tools for the reinsurance treaty standardization (ex: text mining …) and the import automation process within the reinsurance modeling
· Identify key metric improvements to evaluate treaties efficiency on AXA risks
According to the advancement of the project, it will be also possible to work on the operational production of the CAT risk analysis which is performed on a yearly basis to compute the reinsurance capacity and efficiency. Beyond the possibility to acquire knowledge on how CAT risk is assessed and modelled within a leading insurance company, the intern will have the opportunity to be immersed within R&D activities and to work within an environment of technical excellence

Desired profile

Qualifications :

Profile Requirements:

The candidate, , will have a specialization in actuarial, computer science, mathematics or equivalent (engineering schools…) with strong analytical skills and the ability to evolve in a technical environment:
·  Bachelor or Master's degree
·  Interest for Reinsurance
·  Robust programming skills (R / Python / SQL …)
·  Knowledge in C# and/or Remetrica is a plus
·  French and Business English (spoken and written).
·  Team work
·  Autonomy
·  Creativity