Insurance Data Scientist - Risk Modeling

Placements24; Paarl; On-site; ZAR 900,000 - 1,300,000; Full time

Benefits offered by this job

Competitive salary

Private medical aid

Retirement fund

Training & development

Job summary

Placements24 is sourcing a Data Scientist for a forward-thinking insurance company in Paarl, Western Cape. The role focuses on advanced analytics, ML-based risk models, and underwriting optimization to improve pricing strategies and profitability.

You will collaborate with actuaries, underwriters, and business stakeholders to translate complex data into actionable insights, build predictive models, and drive data-driven decision making in a challenging environment.

Qualifications

• Master's or PhD in Statistics, Mathematics, Computer Science, Economics, or a related quantitative field.
• A minimum of 4 years of experience as a Data Scientist, preferably in insurance/financial services in South Africa.
• Proficiency in Python or R with relevant libraries (scikit-learn, TensorFlow, PyTorch, pandas).
• Strong experience with SQL and database management.
• Expertise in statistical modeling, regression, time series, and predictive modeling; familiarity with insurance concepts.

Responsibilities

• Develop, validate, and implement statistical and machine learning models for risk assessment, pricing, and fraud detection.
• Analyze large datasets to identify trends and insights relevant to insurance risk.
• Collaborate with actuarial and underwriting teams to define modeling requirements.
• Design and execute data mining and predictive modeling projects.
• Clean, transform, and prepare data for modeling purposes.
• Build and maintain data pipelines and automated reporting solutions.
• Communicate findings clearly to technical and non-technical audiences.
• Stay abreast of advancements in data science and insurance analytics.
• Contribute to data governance and best practices.
• Evaluate and integrate new data sources and tools.

Skills

Statistical modeling

Python or R

SQL

Communication

Independent & team

Education

Master's or PhD in Statistics/Mathematics/CS/Economics

Tools

scikit-learn

TensorFlow

PyTorch

pandas

Spark

Hadoop

Job description

About the Role

Our client, a forward-thinking insurance company, is seeking a highly skilled Data Scientist to join their innovative risk modeling team in Paarl, Western Cape . This role is pivotal in leveraging advanced analytical techniques and machine learning to develop sophisticated risk models, enhance underwriting accuracy, and drive strategic decision-making. The ideal candidate will possess a strong quantitative background, expertise in programming languages such as Python or R, and a deep understanding of statistical modeling and data mining principles, particularly within the insurance domain. You will collaborate with actuaries, underwriters, and business stakeholders to translate complex data into actionable insights. We are looking for a proactive individual passionate about uncovering patterns and building predictive models to optimize risk assessment and pricing strategies. This is an exceptional opportunity to work with large datasets and cutting-edge technologies in a challenging and rewarding environment. Your contributions will directly impact the company's risk appetite, pricing strategies, and overall profitability. The role requires a keen intellect, a meticulous approach to data analysis, and the ability to communicate technical findings to non-technical audiences effectively.

Key Responsibilities

• Develop, validate, and implement statistical and machine learning models for risk assessment, pricing, and fraud detection.


• Analyze large, complex datasets to identify trends, patterns, and insights relevant to insurance risk.


• Collaborate with actuarial and underwriting teams to define modeling requirements and objectives.


• Design and execute data mining and predictive modeling projects.


• Clean, transform, and prepare data for modeling purposes.


• Build and maintain data pipelines and automated reporting solutions.


• Communicate complex analytical findings and model results clearly to both technical and non-technical audiences.


• Stay abreast of the latest advancements in data science, machine learning, and insurance analytics.


• Contribute to the development of data governance and best practices.


• Evaluate and integrate new data sources and analytical tools.

Requirements

• A Master's or Ph.D. in Statistics, Mathematics, Computer Science, Economics, or a related quantitative field.


• A minimum of 4 years of experience as a Data Scientist, with a focus on statistical modeling and machine learning, preferably in the insurance or financial services sector in South Africa .


• Proficiency in programming languages like Python or R, including relevant libraries (e.g., scikit-learn, TensorFlow, PyTorch, pandas).


• Strong experience with SQL and database management.


• Expertise in statistical modeling, regression analysis, time series analysis, and predictive modeling techniques.


• Familiarity with insurance data and common actuarial concepts.


• Excellent problem-solving, analytical, and critical thinking skills.


• Strong communication and presentation skills.


• Ability to work independently and collaboratively in a team environment.


• Experience with big data technologies (e.g., Spark, Hadoop) is a plus.

Benefits

• Our client offers a highly competitive salary package, commensurate with experience, and a performance-based bonus structure.


• Comprehensive benefits include private medical aid, a substantial retirement fund, and access to advanced training and development programs.


• You will work with a talented team on challenging and impactful projects.


• The company fosters a culture of innovation and continuous learning.


• This role provides excellent opportunities for professional growth and career advancement in Paarl, Western Cape .


• State-of-the-art technology and data infrastructure.