Graduates – actuarial and data science
Vacancies: 2 Data Scientists, 1 Risk Pricing and 1 Retail Pricing
Location: Lysander House, Cribbs Causeway, Bristol, BS10 7TQ.
Salary: Up to £28,000
Somerset Bridge Limited are seeking multiple graduates to join our Data Science, Risk Pricing and Retail Pricing teams. These graduate level roles are open to candidates with a range of experiences, from graduate to 1 year+ experience. The successful candidate may have some experience with any of the following software, but more importantly a desire to develop your skills on the job; SAS, SQL, Qlik Sense, R or Python.
Data Science Graduate Duties:
- Applying machine learning to business problems
- Building a knowledge base of the company products and data
- Identifying new data sources suitable for analysis and implementation
- Supporting deployment of automation throughout the business
- Suggesting and investigating new pricing initiatives
- Interrogating unstructured datasets
- Performing ad-hoc analyses and investigations supporting the business
Retail Pricing Graduate Duties:
- Focus on customer price optimisation for car insurance.
- Continuous feedback / improvement of the lifetime value price optimisation framework.
- Maximisation of lifetime value allowing for many aspects of business: Models of price elasticity, multi-year claims performance, broker finance income, broker loads, MTA propensity, cancellation propensity, renewal propensity, market price models, more general demand models etc.
- Use of machine learning methods to create models using large sets of data and many variables
- There may be the opportunity to get involved in other areas of pricing too.
- Lots of moving parts to understand, forecast, monitor, and try to control.
- We are also moving to a new pricing system which will allow more flexibility in how we price to the customer, so lots of opportunity to be creative and involved early on in this new era of pricing capability for the business.
Risk Pricing Graduate Duties:
- Support the delivery and streamlining of ‘best practice’ pricing models
- Contribute towards the delivery / implementation of rates & products and the development of sophisticated / new pricing techniques (e.g. Gradient Boosting Machine GBMs)
- Support management and monitoring initiatives through statistical / actuarial investigations involving rate actions and impact assessments
- Prepare reports to the required standard for internal sign-off and planning
- Support project planning initiatives
- Support the Pricing Manager and work closely with other analysts to deliver team objectives, and develop / strengthen core pricing skills
- Support the embedment of ‘best practice’ processes and accompanying procedures
Desirable skills/experience (not all required):
- Numerical degree or higher
- Some skills within any of the following software – SAS, SQL, Qlik Sense, R, Python
- Statistical modelling experience
- Good communication skills
- Problem solving mindset
- Ability to understand complex issues and deal with uncertainty
- Genuine interest in this sort of work
- Highly numerical