Data Scientist (Insurance) (KTP Associate)

Duties of the post

The duties of the post will include:

• Analysing, cleaning and processing historical data
• Processing large and complex volumes of data
• Researching models (such as GLMs, regression trees, random forest, etc) using historic data relevant to insurance claim prediction
• Testing models and evaluating performance across various algorithms, using company data
• Developing research and commercial objectives for the company related to improving pricing accuracy, optimising risk segmentation, enhancing claims prediction and target marketing/retention segments
• Calibrating models based on training/validation data sets
• Developing an internal predictive risk model tool
• Embedding technical knowledge into the company via presentations and workshops etc
• Developing proposals & recommendations to improve commercial outcomes
• Contributing to discussions with underwriters/other third parties to present & refine technical findings/proposals & supporting commercial recommendations
• Contributing to the drafting of academic papers and case studies
• Designing a profitability modelling framework
• Contributing to marketing strategies in support of commercialisation activity
• Developing a chatbot to identify common queries and capture customer preferences
• Participating in academic and/or industrial conferences and other events, to disseminate and present research outcomes to the wider community
• Publishing peer-reviewed articles in high impact journals in collaboration with academics at the University of Essex

These duties are a guide to the work that the post holder will initially be required to undertake. They may be changed from time to time to meet changing circumstances.

Key requirements

Qualifications

• MSc in Data Science, Statistics, Computational Actuarial Science, Computer Sciences or related disciplines.
• [Desirable] PhD in Data Science, Statistics, Computational Actuarial Science or related fields.

Knowledge and Experience

• Practical and theoretical knowledge of computational intelligence/machine learning algorithms for predictive modelling and forecasting
• Processing and aggregation of heterogeneous data streams based on structured/unstructured data
• Practical and theoretical knowledge of mathematical and stochastic optimisation approaches
• Experience of complex data handling and management of large data sets.
• Strong knowledge of R and relevant data science packages (e.g. caret, h2o, mlr).
• Strong knowledge of Python and the relevant data science Python stack (Numpy, Scikit-learn, Scipy, Xgboost).
• [Desirable] An understanding of, or experience working in, the insurance and/or actuarial market would be highly advantageous.
• [Desirable] Knowledge and understanding of actuarial science, and risk.
• [Desirable] Knowledge of general insurance pricing methods.

Skills and Abilities

• Excellent analytical, problem solving, communication and interpersonal skills.
• Ability to work to tight deadlines; excellent time management and organisational skills.
• Ability to clearly communicate & interact with people with commercial interests and from varied technical backgrounds.
• Commitment to continuous learning and adapting to new technologies and methodologies.
• Ability to maintain confidentiality when handling sensitive data.

Benefits

As a KTP Associate, the post will offer the following benefits:

• A personal development budget of £4,667 (exclusive of salary).
• Management training and mentoring by an Innovate UK KTP Adviser.
• An interesting and challenging role, with exposure to a variety of stakeholders.
• Full access to university resources to complete the project.
• World-leading Academic and Company project supervision, with project support by a dedicated, sector leading KTP Office.

Location

Comfort Insurance, Comfort House, 8 Goresbrook Road, Dagenham, Essex, RM9 6UR.

Please note that the role holder will be based at Comfort’s offices located in Essex but may be expected to travel to the University of Essex Colchester Campus from time to time.

The University of Essex is pleased to be working with Comfort Insurance to find a qualified graduate, with the right skills, to examine historical insurance data and draw insights which support optimised pricing and marketing strategies.

Subject to discussion and approval there may be the opportunity for the successful candidate to complete a PhD.