Munich Re to set up research and development project in Dublin
The automation solutions division of Munich Re, one of the largest reinsurers in the world, is to establish a strategic research and development facility creating 17 new jobs at its DUblin office. The move is supported by the IDA.
Established in Dublin in 1984 under the AllFinanz brand, the division currently employs 47 people in Ireland. This new project involves a planned investment of over €8 million and the creation of up to 17 additional highly skilled new positions. The Irish government, through IDA Ireland, has worked closely with the company on this new activity.
The research and development team will focus on complex data mining and statistical analysis techniques to more accurately assess underwriting risk across a broad range of insurance classes.
"We are delighted to be making this investment in such innovative R&D. This strategic project will pave the way for the next generation of life insurance underwriting systems," said Ross Mayne, CEO of Munich Re’s automation solutions division. "Ireland is our global centre for commercial software development. Our positive experience and the success we have enjoyed here made Ireland the natural choice for this pioneering project."
Munich Re employs over 47,000 globally.