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Chubb: Predictive Modeler – Domestic US Focus

Provides actuarial support in the Predictive Modeling Unit, work with predictive models for Automobile and Homeowners pricing and underwriting, and support Marketing, Appraisal, and other areas.

Chubb Company: Chubb
Location: Warren, NJ

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For more than 130 years, the Chubb Group of Insurance Companies has been delivering exceptional property and casualty insurance products and services to businesses and individuals around the world.

Today, we are the 12th largest property and casualty insurer in the United States and have a worldwide network of some 120 offices in 26 countries staffed by 10,200 employees. The Chubb Corporation reported $50.4 billion in assets and $13.9 billion in revenues in 2013. According to Fortune magazine, Chubb is the 202nd largest U.S.-based corporation.

Position Description
This band 7/8 position provides actuarial support within Chubb Personal Insurance in the Predictive Modeling Unit. CPI employs predictive models for Automobile and Homeowners pricing and underwriting purposes, as well as in support of other operational areas such as Marketing, Appraisal, and e-Business.

The candidate must have a basic understanding of regression modeling and an interest in statistical modeling, data mining, and be willing to learn new systems. Proficiency in a statistical package (SAS, SPSS, Splus, R), Excel, Access, and Focus is a plus. While predictive modeling will be a primary responsibility for this individual, involvement in and leadership of other actuarial projects can be expected.

The major duties and responsibilities of this position include:
  • Develop predictive models for Auto / Homeowners insurance that identify profitable/unprofitable risks and enhance our ability to match rate to risk.
  • Develop statistical models that support Marketing initiatives, resource optimization projects, forecasting/optimizing the use of external data reports, and other projects in support of operational initiatives.
  • Lead efforts to brainstorm and generate variables from both internal and external data sources.
  • Provide business partners with strategic planning information and analysis, and assists in the development of junior staff members.
  • Develop data specifications for the modeling efforts. Partner with CPI IT to ensure data is extracted in accordance with specifications.
  • Provide business support to CPI IT in the design and testing of production scoring engines, and other aspects of model implementation.
  • Leverage the predictive model information to design reports to measure emerging trends and underwriter performance.
  • Lead efforts to recalibrate the predictive models every 12 to 36 months.
  • Create and maintain documentation associated with the programs and applications developed.
  • Lead post-implementation reviews of the application development process to learn and share best practices.

Competencies/Tech Skills

Experience in personal lines is considered a plus, but not mandatory. If the candidate's background is in Actuarial, the candidate should have at least five years of related experience, at least five actuarial exams (ACAS preferred), and should have general familiarity with advanced actuarial techniques. If background is in statistical modeling, at least five years of experience in building predictive models in support of specific business initiatives. The individual must also possess excellent oral and written communication skills and be able to manage their time effectively to meet scheduled due dates.

At Chubb we are totally committed to providing equal employment opportunities to all employees and applicants. It is our policy to provide equal employment opportunities to employees and applicants based on job-related qualifications and ability to perform a job without regard to race, sex, color, religion, age, national origin, pregnancy, sexual orientation, gender identity, genetic information, disability or other perceived differences that do not relate to ability, performance and contribution at work. If you require an accommodation during the hiring process or upon hire, please inform your Chubb Recruiter.

Qualified applicants with criminal histories are not automatically disqualified from employment. Factors such as job-relatedness of the conviction, age and time of occurrence, and the seriousness and nature of the circumstances will be considered.

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