Senior Actuarial Analyst- Predictive Modeling

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Company Description

ISO, a Verisk business, has been a leading source of information about property/casualty insurance risk since 1971. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. To learn more about ISO please visit us at: www.verisk.com/iso. We are proud to be a part of the Verisk family of companies! 

At the heart of what we do is help clients manage risk. Verisk (Nasdaq: VRSK) provides data and insights to our customers in insurance, energy and the financial services markets so they can make faster and more informed decisions.

Our global team uses AI, machine learning, automation, and other emerging technologies to collect and analyze billions of records. We provide advanced decision-support to prevent credit, lending, and cyber risks. In addition, we monitor and advise companies on complex global matters such as climate change, catastrophes, and geopolitical issues.

But why we do our work is what sets us apart. It stems from a commitment to making the world better, safer and stronger.

It’s the reason Verisk is part of the UN Global Compact sustainability initiative. It’s why we made a commitment to balancing 100 percent of our carbon emissions. It’s the aim of our “returnship” program for experienced professionals rejoining the workforce after time away. And, it’s what drives our annual Innovation Day, where we identify our next first-to-market innovations to solve our customers’ problems.

At its core, Verisk uses data to minimize risk and maximize value. But far bigger, is why we do what we do. 

At Verisk you can build an exciting career with meaningful work; create positive and lasting impact on business; and find the support, coaching, and training you need to advance your career. We have received the Great Place to Work® Certification for the fifth consecutive year. We’ve been recognized by Forbes as a World’s Best Employer and a Best Employer for Women, testaments to our culture of engagement and the value we place on an inclusive and diverse workforce. Verisk’s Statement on Racial Equity and Diversity supports our commitment to these values and affecting positive and lasting change in the communities where we live and work.

Job Description

Verisk is looking for actuarial talent to join the ISO Analytic Products team.

This unit produces analytical pricing information driven by predictive modeling, including the Risk Analyzer suite of products. Insurers throughout the industry leverage our insights for a sophisticated approach to rating and underwriting.

You will be responsible for maintaining and enhancing the Risk Analyzer rating products for commercial lines. You will also perform analyses on client books of business to quantify and communicate the actuarial/business value of our rating enhancements. The role provides the opportunity to work with modern pricing models and advance our capabilities in this space.

Key Responsibilities:

  • Maintain high-performing rating products
  • Perform analyses on insurer portfolios and concisely communicate the demonstrated value of the pricing enhancements
  • Contextualize Risk Analyzer models for use within existing ISO rating plans
  • Ensure that our GLMs and machine learning models reflect the best available information across many data sources
  • Lead efficient update cycles for accurate and timely product releases that reflect the latest predictor data, trends, and rate levels
  • Collaborate with the data and modeling teams to develop useful models that you will then 'productize' into insurer-focused rating products

Qualifications

Bachelor's degree or equivalent experience in a quantitative discipline such as statistics, actuarial science, math, economics, etc.

  • 3+ years of P&C insurance experience is required. Familiarity with insurer pricing approaches or ISO loss costs and manuals is a plus
  • Near ACAS or FCAS candidates are preferred
  • Must be adaptable to programming languages (e.g., R, Python, SAS, SQL) and have strong Excel skills
  • Should be generally familiar statistical modeling techniques such as linear regression, GLMs, tree models, cluster analysis, and model validation
  • A good candidate will be proactive and customer focused. The role will utilize communication and collaboration skills, and the candidate should aspire to be a natural presenter of information for internal and external audiences.

You will be part of a culture that embraces learning and innovation, values teamwork, recognizes and rewards achievements and excellence, and provides personal and professional enrichment opportunities.

Additional Information

Verisk Analytics is an equal opportunity employer.

All members of the Verisk Analytics family of companies are equal opportunity employers. We consider all qualified applicants for employment without regard to race, religion, color, national origin, citizenship, sex, gender identity and/or expression, sexual orientation, veteran's status, age or disability.

http://www.verisk.com/careers.html

Unsolicited resumes sent to Verisk, including unsolicited resumes sent to a Verisk business mailing address, fax machine or email address, or directly to Verisk employees, will be considered Verisk property. Verisk will NOT pay a fee for any placement resulting from the receipt of an unsolicited resume.

Consumer Privacy Notice

 At Verisk, the health and safety of our people is our number one priority. Effective November 15, 2021, and subject to applicable law, all prospective hires for office based roles or roles that support any of our businesses’ government contracts will be required to demonstrate that they are fully vaccinated against COVID-19 by their start date, or qualify for a legally-required medical or religious accommodation to this vaccination requirement, as a condition of employment. Hired candidates who do not demonstrate that they are fully vaccinated against COVID-19 by their start date, and who have not been approved for a legally-required medical or religious accommodation will no longer meet the requirements for employment and their offers of employment will be immediately rescinded, in accordance with applicable law.

More Information on Verisk
Verisk operates in the Analytics industry. The company is located in Jersey City, NJ. Verisk was founded in 1971. It has 2129 total employees. It offers perks and benefits such as Flexible Spending Account (FSA), Disability insurance, Dental insurance, Vision insurance, Health insurance and Life insurance. To see all 37 open jobs at Verisk, click here.
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