At a Glance
- Tasks: Develop climate risk models and underwrite innovative parametric insurance policies.
- Company: Join Descartes, a leader in AI-driven corporate insurance solutions.
- Benefits: Competitive salary, bonuses, and ongoing professional development opportunities.
- Other info: Diverse team culture with a commitment to learning and growth.
- Why this job: Make a real impact on climate resilience while working with cutting-edge technology.
- Qualifications: Degree in maths, data science or related; 4+ years experience in data science.
The predicted salary is between 60000 - 80000 £ per year.
Building Resilience in a World at Risk. Descartes is a corporate insurance group for worldwide companies and institutions. Descartes was born from a conviction that the growing complexity of corporate and climate risks demands a new approach to insurance. At the forefront of AI and Data analysis, Descartes utilises cutting-edge technology combined with a new generation of data sources, to model, assess and manage risks.
Since 2019, Descartes has secured a leading position in parametric (re)insurance combining scientific & technological expertise with a new approach. Parametric insurance, also known as index-based insurance, indemnifies clients within days based on pre-defined payout structures when a specific triggering event occurs; the payout process is both fast and transparent. The company has been financed with over $141M by investors including Highland Europe, BlackFin, Serena, Cathay, Eurazeo and Battery Ventures.
Our highly diverse and specialized team of 250+ people includes the largest modelling team in the industry featuring tech and modeling innovators, scientists in physics and climatology, as well as insurance veterans and underwriters. Descartes Underwriting is seeking a Senior Underwriter/Data Scientist (Parametric Insurance) to join the Underwriting Team based in London.
Reporting to the Underwriting Manager & Director of Descartes UK, you will be a key contributor to the development and deployment of climate risk models for the pricing, underwriting and monitoring of weather-related parametric policies for corporates and public entities.
- Collaborate with the business team and brokers to understand client needs and risk transfer challenges to successfully underwrite new business and renew accounts;
- Conduct thorough analyses for product design and coverage structuring in order to meet the needs and expectations of the clients;
- Improve and develop pricing models in order to model the risk, underwrite policies for corporates and public entities, and monitor the portfolio performance and accumulation;
- Contribute to insurance proposal and underwriting documentation in order to finalise policies for corporate clients and public entities worldwide;
- Operate in the London market, leading discussions and projects with brokers and partners;
- Provide technical & business leadership: help both the underwriting strategy and the review of the work conducted by Underwriting Data Scientists, providing guidance on technical modeling matters & business requirements.
Qualifications:
- Graduated from a leading academic institution with a degree in mathematics, statistics, data science, physics or related;
- ~4 years of significant experience minimum (post graduation) in data science or related;
- As a plus: track record of experience in leading a (small) team and managing business projects;
- As a plus: prior experience in structuring, pricing & underwriting parametric insurance covers for climate risks;
- Proficiency in Python (e.g. pandas, scikit-learn);
- Eye for quality, autonomous and attention to detail;
- Fluency in English (written and verbal communication) is required;
- Good level of one additional language (e.g. Chinese, French, Italian, German, Spanish...);
- Interested in insurance industry and climate risks modeling;
- Rigorous, creative and meticulous mind;
- Commitment from Descartes to its staff of continued learning and development (e.g. annual seminars, training etc.);
- Join a company with a clear and true purpose: help our clients be more resilient in face of climate risks;
- A competitive salary, bonus and benefits.
At Descartes Underwriting, we value diversity whatever it may be. With equal skills, all our positions are open to people with disabilities.
Step 1: HR Interview with our Talent Recruiter
Step 2: In person or remote manager interview (if necessary)
Technical online test on Github
Step 4: In person or remote tech interview
Senior Underwriter/Data Scientist - London in City of London employer: Descartes Underwriting
Descartes is an exceptional employer, offering a dynamic work environment in London where innovation meets purpose. With a commitment to employee growth through continuous learning opportunities and a diverse team of experts, Descartes fosters a collaborative culture that empowers individuals to tackle complex climate risks using cutting-edge technology. Join us to make a meaningful impact while enjoying competitive compensation and benefits.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Underwriter/Data Scientist - London in City of London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Descartes Underwriting). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Descartes Underwriting. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Senior Underwriter/Data Scientist - London in City of London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Descartes Underwriting.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Descartes Underwriting. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Descartes Underwriting
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Descartes Underwriting to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Descartes Underwriting, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Descartes Underwriting's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
