Insurance Data Scientist - Risk Modeling

Placements24; Stellenbosch; Hybrid; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Competitive salary with performance‑dr

Private medical aid

Retirement fund

Training and development programs

Career growth opportunities

Challenging and impactful projects

Job summary

Placements24 is seeking a highly skilled Data Scientist for its client, an innovative insurance company, to join the risk modeling team in Paarl, Western Cape. You will develop and validate models for risk assessment, pricing, and fraud detection, leveraging Python or R and modern ML techniques.

You will collaborate with actuaries and underwriters, analyze large datasets, build data pipelines, and communicate findings to non-technical stakeholders.

Qualifications

• Master's or Ph.D. in a quantitative field required.
• 4+ years experience as a Data Scientist, preferably in insurance/financial services in SA.
• Proficiency in Python or R with relevant libraries.
• Strong SQL and database management skills.
• Expertise in statistical modeling, regression, time series, and predictive modeling.
• Familiarity with insurance data and actuarial concepts.
• Excellent problem-solving and communication skills.

Responsibilities

• Develop, validate, and implement statistical and ML models for risk, pricing, and fraud detection.
• Analyze large, complex datasets to identify trends and insights for 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.
• Build and maintain data pipelines and automated reporting.
• Communicate findings clearly to technical and non-technical audiences.
• Stay updated on advances in data science and insurance analytics.
• Contribute to data governance and best practices.
• Evaluate and integrate new data sources and tools.

Skills

Statistical modeling

Machine learning

Data analysis

Python

R

SQL

scikit-learn

TensorFlow

PyTorch

pandas

Spark

Hadoop

Education

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

Tools

Python

R

SQL

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.