Innovation Actuarial Analyst Trainee 2024

Type: Trainee
Region: London

Joining as an Innovation Actuarial Analyst Trainee, you’ll be part of a pioneering Innovation Team dedicated to enhancing processes and systems. This role offers exposure to extensive data projects encompassing data analytics, programming, and machine learning.

Collaborating across SCOR, you’ll contribute to acquiring new business and fostering market initiatives for profitability. Additionally, you’ll have the chance to collaborate with the global SCOR team, expanding your professional network and experience.

Joining in this role you will help support the Innovation team deliver its strategic plan, where we aim to ‘Intentionally improving outcomes for customers, for clients, the market and SCOR’. You will help us deliver on all three of our strategic pillars:

Utilising new data technique and technology will underpin our ability to deliver our strategic plan and this role is key to helping us achieve this.

Responsibilities

Developing and enhancing predictive models

Building new, and enhancing existing, predictive models will be a core part of the role. This could include:

  • Cleaning and analysing large data sets to prepare data to build new predictive models.
  • Building, training and testing new models or techniques to find most appropriate model for the required task.
  • Ensure results are sensible and explainable to non-experts.

Large data handling and exploration

  • Working and managing large underwriting data sets to help support innovation around the future of underwriting.
  • Support the development of large internal databases at the centre of the firm’s long-term data strategy.
  • Analyse internal data to contribute to MI, profitability analysis, client management and research.
  • Learn, develop and deploy the necessary techniques and tools required to analyse large datasets for commercial insight.

Research and development

  • Identifying and find new data sources that can deliver value to our clients, customer or internally.
  • Identify appropriate external research and derive analyses from external data sets.
  • Contribute to SCOR’s research activities and ad-hoc opportunities as required.
  • Produce accurate documentation of research work carried out and help write reports and presentations to communicate findings both internally and externally.

Pricing and risk control

  • Feedback data project results into internal risk control, internal pricing basis or providing commercial insights to our clients.
  • Support the development of large internal databases at the centre of the firm’s long term data strategy
  • Learn, develop and deploy the necessary techniques and tools required to analyse large datasets for commercial insight

Client and stakeholder management

  • Working and collaborating with internal stakeholders and our clients to ensure all stakeholders are kept informed of progress.
  • Sharing results, insights and learnings across the business

Qualifications

Essential

  • Experience of working both within a team and as a self-motivated individual
  • Experience in handling and analysing large datasets and data visualisation techniques and software.
  • Good working knowledge of Microsoft packages (particularly Excel/Access)
  • Good knowledge or experience of coding Python and/or R or the desire to learn coding.

Desirable

  • Interest or knowledge of data science and machine learning technique
  • Some Actuarial training (actuarial trainees or those who have given up exams will both be considered)
  • Pricing experience with Knowledge of PROPHET and SAS

Personal Competencies

  • Excellent analytical skills
  • Self-motivation
  • Customer focus
  • Team work
  • Attention to detail
  • Excellent communication and interpersonal skills

Required Education

  • Undergraduate Degree in Actuarial Science, Mathematics, Data Science or other numerical degree, or equivalent qualifications

About us

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.

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