Data Scientist I

Company Description

We help the world see new possibilities and inspire change for better tomorrows. Our analytic solutions bridge content, data, and analytics to help business, people, and society become stronger, more resilient, and sustainable.

Job Description

Join the Arium team at Verisk’s Hyderabad, India office within Extreme Event Solutions. As a data scientist, you will contribute to the building of emerging and systemic liability catastrophe models and products designed to address risk estimation in our ever-evolving world. These catastrophe models rely on quantitative modeling and simulations of litigation outcomes. To produce unbiased risk estimates, our models carefully consider historical data changes, supplemented by subject matter expertise, where statistical uncertainty exists. Our products provide opportunities for creative problem-solving, data science, machine learning, and effective communication at the intersection of systemic liability risk, (re)insurance, and society. By doing so, we are making a tangible impact in the cutting-edge field of catastrophe risk modeling.

We are seeking a candidate with extensive experience in data science, machine learning, and stochastic modeling in the context of risk modeling. The ideal candidate possesses a practical, applied mindset, and keen interest in contributing their expertise to the development of emerging and systemic liability catastrophe models. This role plays a crucial part in enhancing model-building efforts, enabling the (re)insurance sector to make well-informed decisions that strengthen social resilience in our dynamic society.

About the Day-to-Day Responsibilities of the Role:

• Gather relevant data from various sources, i.e., historical data, financial data, and legal documents
• Develop appropriate statistical and machine learning models (e.g., neural networks and deep learning, among others)
• Develop prototype models to conduct various test and validation exercises.
• Validate model results against real-world events and historical claims data.
• Conduct sensitivity analyses to assess the robustness of the model under different assumptions.
• Work closely with subject matter experts (e.g., actuaries, underwriters, academics, among others) to incorporate domain knowledge into models.
• Understand legal, regulatory, and industry-specific requirements related to emerging and systemic catastrophe risk.
• Explain complex technical concepts in a clear and concise manner.
• Collaborate with cross-functional teams including actuarial, research, and software to ensure effective and efficient model builds.
• Stay updated on advancements in data science, machine learning, and catastrophe modeling.
• Explore new methodologies and techniques to enhance model accuracy and efficiency.
• Contribute to data analysis, physical interpretation, and documentation.
• Perform literature review and synthesis related to emerging and systemic liability risks and impacts of evolving world environments on various industry sectors.
• Help interpret unfolding catastrophic events in the context of legal system and insurance impacts.
• Help formulate answers to client questions related to the models and their output.

Qualifications

• 3+ years of hands-on experience in data science and machine learning
• Extensive experience in statistical and probabilistic modeling
• Proven ability in effective problem-solving and out-of-box thinking.
• Demonstrated experience in model development from ground-up
• Strong programming skills in Python, R, SQL.
• Experience in cloud computing, and cloud-based services, i.e., AWS is added advantage 
• Ability to identify and process raw data, trends, analysis, and assessments in order to aggregate disparate information, leveraging both analytic and visualization tools.
• Experience building production data solutions in (re)insurance.

Requirements:

• BE/ B.Tech/M.Tech/M.Sc. degree from computer science, applied sciences (mathematics, physics, statistics), engineering, and/or finance.

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Additional Information

For over 50 years, Verisk has been the leading data analytics and technology partner to the global insurance industry by delivering value to our clients through expertise and scale. We empower communities and businesses to make better decisions on risk, faster.

At Verisk, you'll have the chance to use your voice and build a rewarding career that's as unique as you are, with work flexibility and the support, coaching, and training you need to succeed. 

For the eighth consecutive year, Verisk is proudly recognized as a Great Place to Work® for outstanding workplace culture in the US, fourth consecutive year in the UK, Spain, and India, and second consecutive year in Poland.  We value learning, caring and results and make inclusivity and diversity a top priority.  In addition to our Great Place to Work® Certification, we’ve been recognized by The Wall Street Journal as one of the Best-Managed Companies and by Forbes as a World’s Best Employer and Best Employer for Women, testaments to the value we place on workplace culture.

We’re 7,000 people strong.  We relentlessly and ethically pursue innovation. And we are looking for people like you to help us translate big data into big ideas. Join us and create an exceptional experience for yourself and a better tomorrow for future generations.

Verisk Businesses

Underwriting Solutions — provides underwriting and rating solutions for auto and property, general liability, and excess and surplus to assess and price risk with speed and precision

Claims Solutions — supports end-to-end claims handling with analytic and automation tools that streamline workflow, improve claims management, and support better customer experiences

Property Estimating Solutions — offers property estimation software and tools for professionals in estimating all phases of building and repair to make day-to-day workflows the most efficient

Extreme Event Solutions — provides risk modeling solutions to help individuals, businesses, and society become more resilient to extreme events.

Specialty Business Solutions — provides an integrated suite of software for full end-to-end management of insurance and reinsurance business, helping companies manage their businesses through efficiency, flexibility, and data governance

Marketing Solutions — delivers data and insights to improve the reach, timing, relevance, and compliance of every consumer engagement

Life Insurance Solutions – offers end-to-end, data insight-driven core capabilities for carriers, distribution, and direct customers across the entire policy lifecycle of life and annuities for both individual and group.

Verisk Maplecroft — provides intelligence on sustainability, resilience, and ESG, helping people, business, and societies become stronger

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. Verisk’s minimum hiring age is 18 except in countries with a higher age limit subject to applicable law.

https://www.verisk.com/company/careers/

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.