Data Science Lead - Digital Underwriting

Company
Munich Re America
Location
New York , United States

 

Data Science Lead – Digital Underwriting

 

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.  The Insurance Operations Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks. Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html. The Opportunity Future focused and always one step ahead Digital Underwriting is a strategic innovation initiative of Munich Re Specialty Insurance (MRSI) which provides advanced portfolio acquisition and steering capabilities through embedded data science, underwriting, actuarial, software and data engineering resources.  The current scope of Digital Underwriting consists of surplus-lines personal and commercial property casualty business sourced from national wholesalers using rules-based straight-through processing API workflows. The core mission of the team is to rethink underwriting and create next generation underwriting engines that enable digitized business flows within MRSI’s active business units.  Combining traditional actuarial science with data-centricity through scaled modern-architecture automation and machine learning, Digital Underwriting uses analytical models to accelerate and optimize the efficiency and precision of single risk underwriting combined with portfolio pricing and management.  This role provides a unique opportunity to create/serve machine learning models (via APIs) to build and further enhance the core of an innovative digital underwriting product. We are seeking an experienced and solution-oriented data scientist to lead our high-performing Data Science team in New York, NY and Munich, Germany. As Data Science Lead you will be responsible for setting and achieving the objectives, roadmap, workflow and deliverables of team.  You will lead the team and direct activities to acquire and manage disparate sets of proprietary historical premium and loss, ISO and third-party data to develop actionable insights to demonstrably improve risk selection and pricing in production environments for target business segments.  You will use a wide array of techniques to architect and implement complex advanced-level models which deliver business. You will operate within a highly collaborative culture and leadership team, so expect to work closely with multi-disciplinary experts including underwriting, actuarial, product management, software engineer, and data engineer colleagues to deliver a cohesive, data-focused product.  You will champion MRSI’s data-driven and automated decision models with external clients, including business executives and technical leads toto support the product and technical roadmap for Digital Underwriting. Your Job: Take ownership and lead the Data Science team, setting objectives and managing task prioritization, cadence, and project deliverables to: Develop complex decision models which enhance and optimize selection and pricing to deliver economic benefit to risk-based decisions Develop and enhance loss cost models (product pricing) Automate machine learning model pipelines (ETL through model delivery) with production ready rigor Deliver insights from data with advanced analytic models and visualization tools Evaluate third party data and design production risk models which measurably improve selection and pricing Develop robust and reporting tools to create visually meaningful business reporting for internal and external stakeholders Continuously collaborate with other MRSI colleagues and functional leads to innovate and build Digital Underwriting’s data-centric capabilities and value proposition Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge

 

Requirements: Bachelor Degree Required, Master/PHD Preferrred in quantitative or statistical discipline 8+ years of work experience as a Senior-level Data Scientist (insurance/reinsurance industry preferred) 8+ years coding with an object-oriented programming language Ability to conceptualize and render complex machine analytic and learning models from development, testing and production stages through Agile development process Experience and demonstrated ability to design complex decision models and lead data science team through development and delivery to production Demonstrated ability to prioritize and lead teamwork effort to achieve timely delivery or project milestones through multiple and conflicting objectives Ability to articulate the economic benefit of quantitative models to non-quantitative colleagues, clients and stakeholders Ability to effectively lead and motivate quantitatively oriented staff Experience serving machine learning models via an API Proficient in Python and SQL The Company is open to considering candidates in numerous locations, including NYC. The salary range posted below applies to the Company’s NYC location.   The base salary range anticipated for this position is $188,300-276,200, plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).    The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range. At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.   We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.