Job Description
An integral role within our insurance company, the Pricing & Portfolio Insight Product Owner utilizes advanced statistical techniques, such as Generalized Linear Models, to develop accurate loss cost models for pricing and portfolio management purposes.
Role Summary / Purpose
This position demands a deep understanding of actuarial concepts, strong statistical modelling skills, and the ability to provide data-driven insights to support strategic decision-making.
Squad: Pricing & Portfolio Insight
The Product Owner leads the Pricing & Portfolio Insight Squad, leveraging complex data sets to identify trends and insights that improve product performance, optimize portfolio management, and inform strategic decisions.
Key Responsibilities / Accountabilities
* Develop and maintain loss cost models using GLMs and other advanced statistical techniques.
* Analyse historical insurance data to identify patterns and assess impact on loss costs.
* Collaborate with underwriting, claims, and finance teams to understand business needs and provide data-driven insights for portfolio management.
* Conduct rate level reviews to ensure appropriate pricing of insurance products, considering risk exposure, market dynamics, and profitability goals.
* Enhance loss cost models over time by incorporating new data sources, refining variables, and exploring innovative modelling techniques.
* Evaluate the impact of pricing strategies, policy changes, and market shifts on portfolio performance and recommend adjustments as needed.
* Present findings and recommendations to stakeholders, including senior management and underwriting teams, in clear and concise reports.
Qualifications
* Excellent analytical and problem-solving skills, with the ability to translate data into meaningful insights and recommendations.
* Bachelor’s degree in a quantitative field such as Data Science, Actuarial Science, Statistics, or Mathematics.
* Related practical experience, preferably in the commercial insurance sector.
* Proficiency in statistical modelling techniques, specifically GLMs, and experience with R, SAS, or Python.
* Solid understanding of insurance pricing principles, loss reserving, and risk assessment methodologies.
* Familiarity with insurance industry regulations, standards, and best practices.
* Proficiency with data analysis and visualisation tools, preferably Qliksense, Power BI, Alteryx, etc.
* Experience using AI in daily workflows.
* Ability to provide hands-on direction and day-to-day execution ownership in a multidisciplinary team.
* Strong communication, presentation and stakeholder management skills.
* Self-motivated and adaptable, able to manage multiple priorities and unexpected challenges.
About Us
Chubb is a world leader in insurance with operations in 54 countries, providing commercial and personal property and casualty insurance, reinsurance, and life insurance. We are distinguished by extensive product offerings, broad distribution capabilities, and superior underwriting and claims expertise.
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