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Allstate · 3 hours ago

Data Scientist - Insurance Modeling

United States

Full-time

Remote

Mid Level

$76K/yr - $135K/yr

Allstate is a company dedicated to protecting families and their belongings from life's uncertainties. They are seeking a Data Scientist to join the Product Modeling & Decision Science team, responsible for developing and maintaining models used in ratemaking and underwriting while supporting business goals through statistical modeling techniques.

BankingFinanceFinancial ServicesInsuranceInsurTechVenture Capital

No H1B

Responsibilities

Uses best practices and traditional statistical/modeling techniques to develop and maintain rating, economic and other models as necessary and in consideration of the business goals of the model

Provide tools, educate and support state teams in the implementation of models and other decision-making support

Follows appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals

With minimal direction plans, implements, manages, and/or contributes on projects that are up to moderate complexity and are small-to moderate scale using accepted project management standards

Forecasts short-term and long-term deliverables with assistance

Tracks own plan performance and project timeline and communicates and presents project status

Ensures project controls are in place throughout the lifecycle of the project within own tasks

Supports the development/ design of new plans, programs, processes, products up to moderate complexity

Assists in the development of communication strategies and materials to support new plans, programs, processes, products; solicits input from stakeholders

Participates in the evaluation of procedures and processes regularly and makes observations or suggests improvements

Contributes to market share growth and profitability by recommending changes to products, pricing, risk management

Understands standard market specific implications of business strategies

Assures proper execution of regulatory/legislative practices for Product Management

Understands and follows internal and external compliance requirements/standards

Trains/coaches team members or peers and actively shares expertise with peers

Qualification

Statistical modelingPythonR ProgrammingInsurance business knowledgeProject managementCommunication skillsTeam collaborationDecision-making skillsOrganizational skills

Required

Bachelor's degree – preferably in related field of study such as finance, math/applied math, statistics/applied statistics, economics

Proven insurance business knowledge – for example, understands economics of insurance, familiarity with personal lines ratemaking and rating plans, etc

Several years of experience working in personal or commercial lines of insurance

Aptitude and strong interest in statistical modeling techniques such as linear regression, logistic regression, GLM, GAM, GBM, etc. - some modeling experience is helpful but not required

Standard knowledge in the use of data sources and applications to conduct research

Strong technical aptitude, such as programming experience with Python, R, SAS, or SQL required

Working knowledge of insurance regulation and related business constraints

Has an understanding of current industry and professional standards/ environment to impact decisions and indicate requirements

Can analyze data and review analysis from others and identify and resolve basic data issues

Intermediate computer proficiency in Microsoft Office

Possesses working knowledge of policies and procedures in management or other technical fields

Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels

High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner and to monitor processes throughout a team or department

Strong decision-making skills

Works effectively in a team environment