Data Scientist (Insurance) (KTP Associate)

UNIVERSITY OF ESSEX; London; On-site; GBP 30,000 - 40,000; Full time

Job summary

A renowned educational institution in London is seeking a KTP Associate specializing in data science. The role involves analyzing complex data, developing models for insurance claims prediction, and collaborating with various stakeholders. Candidates should hold an MSc in Data Science or a related field, with strong skills in R and Python. The position offers a personal development budget, management training, and access to university resources.

Benefits

Personal development budget of £4,667

Management training and mentoring

Access to university resources

Qualifications

• Experience handling large datasets and complex data management.
• Strong knowledge of relevant statistical packages in R and Python.
• Excellent analytical and problem-solving skills required.

Responsibilities

• Analyse and process historical data for predictive modelling.
• Develop and calibrate risk models based on training datasets.
• Present findings and support commercial recommendations.

Skills

Data analysis

Model testing

Data cleaning

Statistical modelling

Communication skills

Education

MSc in Data Science, Statistics, or related disciplines

PhD in Data Science or related fields (desirable)

Tools

R

Python

Machine learning packages

Job description

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.


• 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., 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., 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.
  
  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.