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Think that working in the insurance field can’t be exciting, rewarding and challenging? Think again. You’ll help us reinvent protection and retirement to improve customers’ lives. We’ll help you make an impact with our training and mentoring offerings. Here, you’ll have the opportunity to expand and apply your skills in ways you never thought possible. And you’ll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.
Data Science incorporates techniques across many disciplines – including mathematics/statistics, computer programming, data engineering and ETL, software development, and high performance computing – with traditional business expertise with the goal of extracting meaning from data to optimize future business decisions. Individuals in this field should be an expert/fluent in several of these disciplines and sufficiently proficient in others to effectively design, build, and deliver end to end predictive analytics products to optimize future decisions. Individual demonstrates sufficient analytic agility to quickly develop new skills across these disciplines as those disciplines evolve. Quantitative Research and Analytics is responsible for aligning with and contributing to corporate growth and profitability objectives by identifying and developing pricing opportunities which will enable Allstate to generate profitable market share growth. The Data Scientist family is accountable for using data to make decisions, which includes building predictive models and developing new machine learning techniques that enable Allstate to make better decisions to achieve Allstate’s goals.
This role is responsible for leading a large team that uses data to make decisions that enable Allstate auto line ($17 Billion annual premium) to profitably grow. This includes the development of pricing strategies that leverage the state of art machine learning/predictive modeling. The role is accountable for the development of industry leading predictive models developed by the Data Scientists. The role determines the optimal portfolio of projects to execute and leads a team of managers and data scientists to successfully execute and implement those projects. The focus of the role will be on the continued improvement of Allstate’s Auto Loss, Retention and Bind Rate models by incorporating new research and techniques in predictive modeling. Examples of these research areas include (but are not limited to) vehicle characteristics, territorial rate making, credit modeling, driver classification and merit/accident structure.
Develops and builds alignment around machine learning/predictive modeling, optimization strategies
- Builds & evolves an auto pricing vision and strategy of using machine learning/predictive modeling, optimization and data
- Builds alignment for an auto pricing vision and strategy of using machine learning/predictive modeling, optimization and data with Line Management, Analytics and other business partners, fostering relationships and engaging resources across departments
- Leads efforts for continuous improvements with data, tools, methodology and processes
- Advances machine learning/predictive modeling, optimization development within the department
- Serves as subject matter expert and consultant on product related issues inside and outside the department
Develops, leads, and continually optimizes portfolio of projects to execute on pricing sophistication strategies
- Translates vision and strategies into roadmaps and projects
- Leads multiple, complex analytical and modeling projects with many team members
- Ensures projects are managed according to overall plan managing scope, mitigating risks and solving for project risks.
- Effectively understands the business problems, requirements, and context in communicating findings to ensure models are well understood and incorporated into business processes
- Determines optimal Auto program organization and delivery approach, assists in managing budget, coordinating resources and oversees development of integrated project plans
Engages Product Operations and cross-functional leadership to influence Auto and Homeowners business
- Presents business cases with senior leadership in Product Operations and influences cross-functionally to take, implement and deliver on recommended actions
- Achieves results on initiatives that contribute to growth and profit goals
- Encourages risk taking and innovation
- Applies efforts to diverse and complex situations to determine solutions, alternatives or guidance
- Represents Allstate on panels, in outside venues or forums
- Serves as a subject matter expert for machine learning/predictive modeling and consults on complex issues with regulators, legal consul and the field
- Partner with outside business units in order to improve the effectiveness of business decisions
Leads managers and builds and develops team dedicated to executing pricing sophistication strategies
- Leads managers and who are responsible for work that needs to be performed and/or their direct reports
- Directs, supports and executes talent management developing bench strength for loss cost modeling teams from analysts to project managers to new managers
- Identifies skill gaps and devises training plans with managers to develop new talent in focus area
- Coaches, mentors and influences others to accomplish departmental goals
- Actively seeks to connect resources across departments to share expertise educating teams on initiatives, strategy and models
- Works to maintaining a friendly and collaborative work environment
- Extensive pricing, statistical, rating plan design, and insurance regulation knowledge, with working knowledge of personal lines underwriting and product offerings and company sales and marketing processes
- Prefers a Master’s in a quantitative field such as statistics, mathematics, finance, or economics or an actuarial designation (ACAS/FCAS) with a bachelor’s degree in a quantitative field
- Extensive experience in leading teams and cross functional projects
- Proven ability to manage teams overseeing machine learning/predictive modeling, and optimization in software such as SAS, SPSS, Matlab, R, CART, Python, Java etc.
- Proven knowledge of advanced technique such as GLM, GAM, Machine Learning algorithms, decision tress, etc.
- Ability to train, develop, and teach more junior modelers
- An advanced knowledge about business in general and seasoned, in-depth, multi-dimensional knowledge of industry and company economics
- Ability to analyze and interpret complex concepts
- Ability to lead teams in the development rating plans
- Ability to lead teams in the development machine learning/predictive modeling, and optimization
- Ability to provide written and oral interpretation of highly specialized terms and data, and ability to present this data to others with different levels of expertise
- Ability to concentrate on a wide range of loosely defined complex situations, which require application of creativity and originality, where guidance and counsel may be unavailable
- Proven communication and influence skills taking varying audiences into consideration
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.