No topic can be more boring than insurance. So it must be a real barrel of laughs to go to an event hosted by a REinsurance company, I thought, only a couple of weeks ago.
You expect a bunch of old-fashioned, dull people in suits, the kind who look you up and down and assess your life insurance value even as they are shaking hands. I was therefore more than pleasantly surprised by the colorful delegation made up of a wide range of different types of people that met us at the Munich Re welcome event at the Loft.
The long-established Munich-based insurance company combines global, highly professional reinsurance with the typically extremely easy-going local corporate culture (and I am not just saying that because I come from Bavaria myself). This made the decision of what to wear easy: nothing but a pair of lederhosen would do!
In addition to the four Munich Re representatives, an amazing 18 careerloft funding scheme members from all over Germany and a wide variety of professional backgrounds joined us for a workshop on the topic of underwriting. For the non-insurance experts: Underwriting is, to put it simply, all about assessing a wide range of potential risks and eventualities in detail in order to put a price tag on a risk.
You would not believe the things you have to take into account to prepare a contract like that. I, for one, would never have thought of taking potential cases of food poisoning and the resultant match delays or cancellations into account when calculating the reinsurance cost for the recent World Cup!
Acquiring in-depth knowledge about major natural catastrophes, terrorist attacks or global crises is part of the daily routine. “You read the newspapers with a completely different set of eyes,” explained Christine Uhlig, Corporate Claims, during her workshop introduction. The subsequent get-together allowed the participants to network with the company representatives, and to enjoy the informal atmosphere. When a fuse blew during the live cooking, a long string of puns ensued involving safety and (re-)insurance (the German word for fuse happens to be “Sicherung,” which also means a safety device – or a safety provision).
We recorded some of the day’s events on video for you, which you can view below. Other than that, I would like to welcome Munich Re to careerloft; and, of course, I sincerely hope that everyone else will be wearing lederhosen the next time we meet!