Adresse Whatever their stage of life, we provide over 108 million customers with the products and services they need to progress. From insurance to personal protection, and savings to wealth management, no matter the need we’re always there for them. And we’re always there for our employees. In 50 countries, we work hard to inspire pride and a sense of belonging in our people. To provide opportunities that challenge them, inspire them, and reward them. And to create a culture that’s open, supportive, and empowering. Because we know that’s the real secret to success – and the best way for us to keep building a better world for both our customers and the talented people who put them first.
Your work environment
The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world, to ensure the coordination and monitoring of the Group's global strategy, the application of its standards, the consistency of commercial approaches and the sharing of best practices. The headquarters gathers approximately 1000 employees and is distinguished by its strong international culture (45 nationalities), which makes it a rich and stimulating place to work.
Description
As part of the new Solvency II regulation, AXA has developed its own internal model for the calculation of the economic capital. The GRM Life team is responsible for the developments related to the Life risks (Mortality, Pandemic, Lapse, Mass Lapse, Disability etc.) and works continuously on the model’s improvements and on the quantification of these risks.
One of the main challenges faced by insurers is the risk of a deviation of policyholders lapse behavior: lapse up and lapse down risks refer to the risks that customers surrender their insurance policies respectively more or less than expected. The mass lapse risk sub-module captures the risk of a temporary but sudden significant increase in lapses. This risk encompasses lapses due to a fear of bankruptcy or a reputation issue.
GRM offers an internship position dedicated to the lapse and mass lapse models. This model review and improvement is eagerly awaited in the aftermath of the recent interest rates surge that brought lapse and mass lapse to the first position in terms of life risks. Thus, it is a great opportunity to develop a strong expertise and knowledge on this important topical issue.
Main tasks
The main mission will be to review and improve the lapse and mass lapse models. The outputs of the enhanced models will be the inputs of the next economic capital assessment.
This mission will encompass an exhaustive review and analysis of the existing models and data. For the mass lapse model, the intern is expected to analysis the past mass lapse events using internal and external data then to challenge the current frequency/severity model and finally to propose enhancements to address its limitations.
For both models, the impact of the changes will need to be quantified and a clear synthesis of the work with re-usable tools and appropriates reports/presentations should be provided.
Of course, as you will be fully integrated to the team, you will also have the possibility to contribute to other projects and tasks that are part of our day-to-day work as international Risk Managers.
Your Profile
You are a student in statistics, actuary, engineer, with a strong IT and Data Science sensitivity;
You have excellent skills in programming (R, …) and an excellent knowledge of Excel;
You have a clear appetite or curiosity for the modelling of Lapses and other risks stemming from Customer Behavior;
You are very curious, open-minded and with a good level of autonomy;
You enjoy working in an international and a multicultural environment;
You are able to rapidly understand and use new tools or software;
You have to be fluent in English (written and spoken language).
About AXA
Why AXA ? Every day, we work together for human progress by protecting what matters. A mission that puts a smile on your face and makes you want to get up in the morning !
One of the world's leading insurers in the protection of property, people and assets, AXA is 145,000 employees and contributors who are committed to our customers on a daily basis, 51 countries in which we distribute our products and services and more than 90 million customers who place their trust in us worldwide. As a responsible corporate citizen, AXA is committed to social and environmental causes on a daily basis. We are committed to an inclusive policy that recognizes and values individual differences. Do these ambitions speak to you ? Then come and change the world with us !
About the Entity
The headquarters of the AXA Group is based in Paris - La Défense (Majunga Tower) and brings together the Group's corporate activities. It is distinguished by its strong international culture.
What We Offer
You will join:
A responsible company, towards people, including its employees and customers, and towards the planet
A company with strong values
A company promoting internal mobility and the training of its employees
A company offering many benefits (learn more here: Reward & Benefits | AXA Group)
A flexible company, allowing hybrid work, in the office and from home.
The information provided by applicants will be treated as strictly confidential and used for recruitment purposes only.
