Data Scientist - Insurance Modeling

Data Scientist - Insurance Modeling

This job is no longer open

The world isn’t standing still, and neither is Allstate. We’re moving quickly, looking across our businesses and brands and taking bold steps to better serve customers’ evolving needs. That’s why now is an exciting time to join our team. You’ll have opportunities to take risks, challenge the status quo and shape the future for the greater good.

You’ll do all this in an environment of excellence and the highest ethical standards – a place where values such as integrity, inclusive diversity and accountability are paramount. We empower every employee to lead, drive change and give back where they work and live. Our people are our greatest strength, and we work as one team in service of our customers and communities.

Everything we do at Allstate is driven by a shared purpose: to protect people from life’s uncertainties so they can realize their hopes and dreams. For more than 89 years we’ve thrived by staying a step ahead of whatever’s coming next – to give customers peace of mind no matter what changes they face. We acted with conviction to advocate for seat belts, air bags and graduated driving laws. We help give survivors of domestic violence a voice through financial empowerment. We’ve been an industry leader in pricing sophistication, telematics, digital photo claims and, more recently, device and identity protection.

We are the Good Hands. We don’t follow the trends. We set them.

Job Summary:

Analytics is responsible for aligning with and contributing to corporate growth and profitability objectives by providing expert guidance, influencing business strategies, executing flawlessly, and rigorously defending our work.

This position will work on the Modeling & Major Initiatives team as a part of the broader Auto & Home Analytics department.  The Modeling & Major Initiatives team develops and maintains models used in ratemaking, economic analysis and underwriting.  They also develop best practices and support enhancements to processes supporting major initiatives and the adaptation of models/major initiatives to state specific implementations.  Data Scientists will utilize various statistical modeling techniques to support the creation of models, will educate business partners on the use of these models and will participate in innovative work to continually improve rating plan sophistication (such as the incorporation of telematics data) and decision-making support. 
 
The Auto & Home Analytics Department supports pricing of personal insurance lines of business utilizing accepted actuarial and statistical standards and methodologies. Data Scientists work closely with their Analytics Manager to support business goals.  Support will be provided for those who seek the Certified Specialist in Predictive Analytics (CSPA) credential.

Key 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
     

Job Qualifications

  • 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
     

Compensation offered for this role is  and is based on experience and qualifications.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy. For a full description of Allstate’s benefits, visit allstate.jobs/benefits/

Learn more about life at Allstate. Connect with us on Twitter, Facebook, Instagram and LinkedIn or watch a video.

Allstate generally does not sponsor individuals for employment-based visas for this position.

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Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

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