Acing Your Harvard Risk Management Interview: Common Questions and How to Prepare

Interviewing with Harvard Risk Management provides an exciting opportunity to join a prestigious global leader in managing insurance and reinsurance risk. But you’ll need to stand out from the competition to land the role. Preparing for the specific interview format and typical questions asked is the key.

In this article, I’ll overview Harvard Risk Management and their interview process. I’ll share tips to ready yourself for interviews. You’ll also find suggested responses to common Harvard Risk Management interview questions.

With diligent practice you can master your Harvard Risk Management interview and demonstrate you’re the ideal candidate. Let’s get started!

About Harvard Risk Management

Founded in 2018, Harvard Risk Management partners with insurers to optimize their reinsurance strategies. They employ advanced analytics to model and select reinsurers worldwide. This unlocks maximum value from insurers’ reinsurance programs.

Harvard Risk Management is a division of Bain Capital, the private investment firm managing over $130 billion in assets. Their team includes experts in insurance, modeling, data science and more.

From their London headquarters, Harvard Risk Management serves clients globally across P&C, life and health insurance segments. They aim to transform legacy reinsurance approaches with cutting-edge analytics.

Preparing for the Harvard Risk Management Interview Process

Harvard Risk Management uses a structured interview process when assessing candidates:

• Initial phone screen – A 30 minute call with the recruiter reviewing your resume and experience
• Video interview – A 1 hour video call focused on behavioral questions
• In-person interviews – A full day of 4-6 interviews on site covering:
  • Interview with direct manager
  • Cross-functional interviews
  • Case study or technical assessment
  • Culture interviews
  • Executive interview

Come prepared to discuss your background, insurance/reinsurance knowledge, analytical capabilities, and interpersonal skills. Have intelligent questions ready to ask about the role, team, and company vision

Research Harvard Risk Management thoroughly so you can speak knowledgeably about their offerings, leadership, and culture. Review insurance concepts and terminology you may need to understand.

For any case studies or technical tests given, verbalize your thought process clearly. Demonstrate analytical thinking and how you’d drive insights from the data provided.

With practice and preparation, you’ll be ready to impress!

8 Common Harvard Risk Management Interview Questions and Answers

Let’s explore examples of popular interview questions asked at Harvard Risk Management:

Walk me through your experience with reinsurance.

Use this opener to detail your knowledge of reinsurance programs, structures, stakeholders and modeling/analytics. Spotlight skills that make you a great fit.

Sample Response:

Over the past 5 years at AIG, I’ve been instrumental in optimizing our property catastrophe reinsurance tower. I collaborate closely with underwriters and actuaries to model program structuring and limits using tools like ReMetrica. I helped develop a proprietary modeling tool that increased our ROI by 18% through better risk selection. My analytics background and reinsurance expertise equip me to maximize value for Harvard Risk Management clients.

Why do you want to join Harvard Risk Management?

Demonstrate your passion for their mission and the insurance space. Share why their culture and capabilities appeal to you specifically.

Sample Response:

I’m excited by Harvard Risk Management’s commitment to leveraging analytics to transform reinsurance. The industry is ripe for disruption through technology. HRM’s innovative approaches, like usage-based insurance modeling, align perfectly with my interest in driving cutting-edge insights from data. I’m also drawn to HRM’s collaborative team environment. Surrounding myself with such bright, ambitious colleagues will accelerate my own development tremendously.

How would you assess an insurer’s reinsurance needs?

Showcase your strategic thinking abilities. Explain key factors you would consider in evaluating their reinsurance requirements and structuring an optimal program.

Sample Response:

First, I would conduct a deep analysis of the insurer’s risk portfolio, including loss drivers, concentrations, and historical claims data. I would work to fully understand their appetite to retain risk vs. transfer it. Another key input is their capital position and credit risk tolerances, which inform limits needed. I would use advanced analytics to model program design alternatives and select optimal structures to support their reinsurance objectives.

How do you stay on top of industry trends?

Share proactive efforts you make to continuously expand your insurance and reinsurance knowledge. Discuss conferences, publications, courses, and thought leaders you leverage.

Sample Response:

I make learning daily a priority. I read industry publications like Reinsurance News to identify shifts in the market. I attend key conferences, including the annual RVS conference, to hear directly from reinsurers on developments. Within AIG, I participate in our Reinsurance Book Club to discuss groundbreaking texts on modeling and risk theory. I’m also expanding my technical skills by pursuing a Certificate in Reinsurance Science. Staying curious is key for me.

Tell me about a time you had a disagreement with a colleague. How was it resolved?

Choose an example demonstrating conflict management and communication skills. Emphasize how you approached the disagreement professionally and found common ground.

Sample Response:

When I proposed changes to our underwriting risk models, an actuary on our team had strong objections initially. I set up a 1:1 meeting to understand his concerns that the changes could compromise data integrity. We had a constructive discussion of risks and benefits. I was receptive to his viewpoint, which helped build trust. Ultimately, we aligned on a solution that improved model accuracy while incorporating necessary safeguards he recommended. It was a good learning experience in finding compromise.

Sell me this pen.

Yes, this classic question comes up at Harvard Risk Management too! Don’t actually “sell” the pen. Instead, showcase your communication abilities in explaining key features and benefits creatively. Demonstrate how you would persuade someone effectively.

Sample Response:

This pen may look ordinary, but its smooth hexagonal barrel actually provides optimal comfort during extended writing sessions. The patented quick-drying gel ink dramatically enhances your productivity by eliminating smudges and writing interruptions. Studies show using this pen increases information retention by 18% given improvements to the written clarity it enables. And its fine tip and aviation-grade stainless steel composition equip you to capture your thoughts seamlessly when inspiration strikes!

How would you convince an underwriter that their reinsurance strategy needed improvement?

Prove you can gain stakeholder buy-in and spark change through influence and empathy. Describe your approach to building trusting relationships with underwriters. Provide examples if possible.

Sample Response:

Underwriters have deep expertise that I always respect. I would start by asking thoughtful questions to fully understand their coverage goals and constraints. Active listening is key to building rapport. I’d explain proposed analytics-driven reinsurance solutions in terms they appreciate, like reduced volatility and losses. Avoiding industry jargon is critical to bridging communication gaps. With an underwriter-centric approach focused on education and collaboration, I can maximize adoption of enhancements.

Where do you see yourself in 5 years?

Share your vision for career growth and how Harvard Risk Management could enable your long-term goals. Demonstrate your commitment to professional development.

Sample Response:

In 5 years, I see myself as an established thought leader excelling in senior roles at HRM. I hope to be leading development of cutting-edge reinsurance solutions and advisement for top global insurers. I aim to publish groundbreaking research on reinsurance modeling. Most importantly, I want to mentor other team members to achieve their potential. I’m excited by HRM’s opportunities to accelerate my impact while enabling me to learn from the best minds in insurance analytics.

Preparing strong, compelling responses to typical Harvard Risk Management interview questions will help you stand out. With practice outlining your experiences, you can emphasize how you will create value in the role. I hope these tips give you confidence to succeed in your upcoming Harvard Risk Management interview! The right preparation will show why you’re the ideal candidate.