MLB Graduate Story: Insurance risk assessment for the South American market
Laura Jojoa holds a Bachelor in Economics and International Business from Icesi University in Cali, Colombia. In 2014, she graduated from the Bucerius Master of Law and Business.
What have you been doing professionally since graduation?
"I attended the MLB program between 2013 and 2014. In August 2013 I started as an intern at Glossybox, in Berlin, where I supported the logistics department. It was an exciting and challenging adventure in the start-up world, but it didn’t last long because 10 months afterwards, I was moving to Madrid to join the Munich Re’s International Graduate Trainee Programme and beginning a career in Reinsurance."
What position do you currently hold and what is your main responsibility?
"After the 2-year programme in Madrid, Munich Re offered me an opportunity to return to my home country as a Junior Casualty Underwriter for Single Risks in Bogotá, Colombia. Here, I analyze and quote risks from all the south American countries (except Brasil) related to third party liability, Cyber, Product Liability, Recall and Directors & Officers coverages, among others."
How does the knowledge and skill you acquired in the MLB program make you better at your job?
"Actually I was recruited because they were looking for someone with both business and legal background. In reinsurance you need to have skills with numbers but also check or write wordings and understand what are you covering."
"In the MLB program I also learned how to work with people from different nationalities and backgrounds. Munich Re is a German company, so it is good to understand their culture, but on the inside it is very diverse and on a daily basis you need to work and communicate effectively with clients and colleges from all over the world, so I am very glad I learned those skills."
Why would you recommend business graduates to gain an understanding of legal concepts?
"From my perspective there are many benefits. Whatever you do in your life will involve contracts: insurance policies, employment, founding a company and participating in public biddings are just a few examples. You need legal knowledge to understand what you are getting into and if you are an entrepreneur, you need to know also what are you exposed to."
"Also, as an insurance professional I can tell you that most of us don’t even read the insurance policies we buy, and it is only when the claim comes that we see if what we bought was useful - it shouldn’t be that way! With legal knowledge you can understand and even request coverages according to your needs."
"Last but not least, legal knowledge will help you to understand your rights and obligations in every situation and that is something you certainly appreciate."