Senior Analyst, Underwriting Analytics

  • 4-8 Year
  • Burnaby
  •   Posted On: August 29, 2018
  •   Skills:  Catastrophe Modelling(CAT Modelling), Communication, Interpersonal

Job Overview

Roles & Responsibilities

BCAA has an opening for a Senior Analyst, Underwriting Analytics to join our team! The successful applicant will apply their advanced analytical, problem solving and critical thinking abilities on varied projects including deepening our understanding of our insurance portfolio and developing solutions to enhance our underwriting capability, rating sophistication and home insurance products. They will collaborate closely with stakeholders from across the business and be able to communicate the results of their analysis with a non-technical audience.

What’s the status?

Temporary Full-Time (approximate end date of January 17, 2020)


What will you be doing?

Modelling and analytics 

• Use statistical and predictive modelling techniques and machine learning algorithms to provide insight on varied projects across all parts of BCAA’s insurance related businesses. This includes working with complex data from multiple sources. 

• Use predictive modelling techniques to gain insights into retention and new business, combined with insights on competitive benchmarking, to refine and optimize rating plans for a given outcome (eg policyholder growth). 

• Use analytical tools to gain insights into the insurance portfolio, including monitoring trends, changes and risk. 

• Leverage analytics and technology to support recommendations for improving processes, product design and underwriting rules. 

• Communication of findings to varied audiences across the organization. 


Pricing and ratemaking 

• Assist in development and maintenance of rating models to optimize the rating structure for home insurance, and other product lines as required. 

• Assist with rate indications to set expectations for future losses and premium required to maintain desired financial performance. 

• Analyze competitive benchmarking of rates, and use this to help optimize rating structures. 

• Assist with assessment and pricing of new product features or changes to product features. 

• Continuously seek opportunities to enhance policy risk assessment models and risk-based pricing using predictive modelling techniques and exploring new data sources. 

• Make recommendations on data collection, tools, software and business processes to maximize insights and efficiency of pricing. 

• Collaborate with the Actuarial Services team on ratemaking to ensure an optimum rating structure is maintained, making recommendations on the use of new sources of information, rating variables and modeling techniques. 

Research 

• Explore, develop and test new predictive modelling, machine learning and other statistical and predictive techniques and tools. 

• Monitor performance of insurance portfolio to identify actions to support business development, risk accumulation, sales and retention. 

• Research and implement uses of external sources of data and information that can bring additional insight into our insurance risks. 

• Identify opportunities to apply modeling tools and techniques outside of Underwriting to enhance the capability and benefits of advanced analytics across the organization as a whole. 

Leadership 

• Provide ongoing value-added analysis and recommendations to senior leadership under a complex business environment to meet key strategic business objectives. 

• Work independently on complex projects and lead projects working with other members of the team. 

• Work with more junior members of the underwriting analytics team, assisting with their development and training across all technical aspects of actuarial work. 

• Assist with effective knowledge transfer within team. 

• Model and encourage use of best practices in modelling and analytics. 

• Agile collaboration with all relevant stakeholders across the organization. 

Other duties 

• Provide support on catastrophe modelling and reinsurance as required. 

What do you bring?

Education & Credentials 

• Undergraduate degree in Statistics, Mathematics, Economics, Natural Sciences, Engineering or similar discipline with emphasis on quantitative analysis and methods. 


Experience 

• Minimum four years of experience in predictive modeling/advanced analytics role. 


Skills 

• Proven understanding of database structures and logic and use of data science and statistical tools such as SAS, R or Python. 

• Demonstrated analytical capabilities, including critical thinking with strong attention to detail. 

• Experience with GLMs, logistic regression, clustering techniques and machine learning algorithms. 

• Excellent written communication skills along with the ability to present results of analysis to a non-technical audience. 

• Highly organized with demonstrated experience in solving problems. 

• Understanding of actuarial concepts and insurance pricing. 

• Excellent interpersonal skills required to be effective both within the team and throughout the organization. 

Preferred qualifications 

• Previous experience in the property & casualty insurance industry. 

• Postgraduate education in an analytical field. 

• Experience implementing system solutions resulting from the advanced analytics and modeling techniques mentioned above. 

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