​Director, Named Peril Products (L.A., NYC, London)Title:               Director, Named Peril Products
Location:        London, NYC or Los Angeles
Team:             Strategic Initiatives
Reports to:     VP, Strategic Initiatives

☒ Full-time
☒ Exempt 

Do you want to tackle the liability protection gap in a fascinating growth market with a real societal impact? Then this is the role for you!

The Praedicat Strategic Initiatives team is newly created, responding to the increasing demand for new product innovation in a market primed for growth. This role will work with various clients – reinsurers, insurers, legacy carriers, captives, investment funds, corporates, brokers and MGAs – to facilitate the creation of a robust market, unlocked by Praedicat’s cutting edge risk models and insights, reducing asymmetry of information across the value chain.
There is no “typical” project, as our market is evolving fast. You’ll work with clients to transform risk management, risk reduction and risk transfer.

Praedicat is a funded InsurTech startup headquartered in Los Angeles that is delivering innovative new “foresight modeling” to commercial clients built on cutting-edge big data analytics and technologies.  We are looking to hire a Director, Named Peril Products, who will report to the Vice President, Strategic Initiatives.  To be successful, you will be expected to develop a thorough understanding of Praedicat’s clients, proprietary analytics and products in order to determine how to help the industry receive maximum value from Praedicat’s analytics. You will also be expected to listen to prospects and clients and think creatively about how Praedicat’s analytics can solve their problems through new product innovation.

• Making a difference: Our products deliver data from peer-reviewed science into the workflow of business so that our clients can use it to make better decisions – cleaner technologies, safer products, a healthier environment.

• Multidisciplinary collaboration: We work in teams with smart people from multiple disciplines to develop creative solutions.

• Hard problems and cutting-edge technologies: Our data science, modeling and software engineering challenges are hard and innovative solutions are necessary.

Responsibilities

• Provide support and solutions to clients during the full transaction lifecycle (from conceptualization through post-transaction services)
• Support pre-sales work from discovery through contract execution for new Praedicat named peril product development clients, including presentations and workshops with senior executives
• Support the design and execution of Praedicat’s go-to-market strategy for named peril products, including supporting business development efforts alongside senior team members
• Perform transaction risk analyses, trigger design, event definition and placement services. For example: Help a global industrial company understand its exposure, implement a program to help it better manage exposure and transfer risk via new parametric or indemnity triggers to capital markets / (re)insurance
• Collaborate closely with Praedicat’s modeling leadership and analysts to explain new product concepts and deliver customized calculations in acceptable formats to clients
• Work with clients to help them understand the correlation and aggregation of risk across new named peril products and existing portfolios
• Serve as point of contact for clients for named peril product development work, working with account management and sales team to evolve the strategic direction of the account
• Support clients during model validation and new model change management process
• Determine account-level strategies for developing the market demand for new named peril products by helping clients understand their existing protection gap and offering solutions
• Perform market studies and analyses for demand generation and for scoping named peril products
• Continuously analyze and research existing liability risk transfer products for clients to determine how they can be improved by leveraging Praedicat’s model
• Collaborate with Praedicat’s internal product team to improve Praedicat’s products to better support the named peril product development and aggregation use case

Requirements

• Bachelor’s degree or higher in a quantitative subject:
  • Science, Technology, Engineering, Mathematics, Finance or Actuarial Science
• 5 to 10 years of relevant work experience. Examples include:
  • (Re)insurance pricing and product structuring (liability preferred)
  • ILS (property cat, terrorism, etc.)
  • Consultant working directly with risk managers at corporations, casualty product development departments or capital markets
  • Risk model vendor working in product development / structuring
  • Client-facing cat modeling role (capital markets, technical underwriting, pricing)
  • Primary or reinsurance broker with a product and market development focus
  • Fund manager
  • Previous experience working with risk managers and/or captives
• 5+ years of experience in a client-facing role
• (Re)insurance market experience
• Strong mathematical and statistical skills with ability to understand and explain complex probabilistic modeling concepts
• Previous experience structuring new insurance products (ILS, etc.)
• Previous experience running and interpreting catastrophe models (modeling and analyzing portfolios)
• Ability to employ a consultative approach with clients
• Executive presence, strong communication and presentation skills
• Able to confidently drive forward and execute strategies in ambiguous and unstructured environments
• Strong team player; ability to actively collaborate
• Interested in participating in a range of projects

Preferred Qualifications

• Interest in man-made risks facing society (chemicals, climate change, etc.)
• Previous liability market experience and understanding of market dynamics and current practices
• Sales aptitude
• Coding experience highly preferred (SQL, Python, C++, etc)
• High degree of creativity
• Enthusiastic, proactive and inquisitive personality
• Solid project management skills
• Experience supporting global accounts and managing relationships with senior executives
• Interest in both corporate and (re)insurance markets

Position is based in New York, London or Los Angeles; expectation of domestic and international travel (New York, Boston, Bermuda, London, Paris, Zurich, Munich and other cities).

To apply, send your cover letter and resume as one .pdf via ZipRecruiter.

Incentive Compensation and Benefits
Praedicat believes in a work-life balance that is supported by a competitive compensation and benefits package.  All full-time permanent employees are eligible for benefits such as:

• Participation in Praedicat’s Stock Incentive Plan offering equity-based incentives for employees
• Annual equity bonuses tied to individual and company performance
• The ability to contribute to a Praedicat-sponsored 401(k) plan
• Medical insurance coverage, with both HMO and PPO options, as well as dental and vision coverage
• Allotment of PTO (paid time off) and official holidays each year

About Praedicat®
Praedicat is a latency risk data and modeling company and a spin-off of the nonprofit RAND Corporation and catastrophe modeling firm Risk Management Solutions, Inc. (RMS). The risk principle at the foundation of Praedicat is that “The science is the risk.”  When commercial products or business practices cause latent bodily injury in the population, for the loss to be compensable in court, the injured parties must submit published science supporting the claim to the court.  Scientific literatures that eventually become evidence in court develop one paper at a time over multiple years.  As an emerging risk tool, Praedicat’s text mining technologies identify the science when the earliest papers are published.  As the literature evolves, Praedicat identifies exposure settings and evaluates the state of the science.  When the literatures are mature, Praedicat compares the state of the literature to the characteristics of scientific literatures in admitted litigation. With clearly specified harms and exposed populations identified from peer-reviewed journals, Praedicat is able to estimate severity of the risk and size of the claimant population.  Finally, Praedicat has developed a probabilistic model that uses empirical predictions of the future state of the science to create a science-based prospective litigation event set.  Praedicat’s multidisciplinary team includes bioscientists, economists, actuaries, statistical modelers, data scientists and software engineers. Praedicat’s models have been back-tested, and validated by an external actuarial firm.  The data and models are used for underwriting, risk management, and the development of new insurance products by multiple global insurers and reinsurers.  Global industrial companies also use the data and models for best in class product stewardship and risk management.
 Praedicat is an Equal Opportunity Employer.  Employment with Praedicat is determined on the basis of merit, competence and qualifications and will not be influenced in any manner by race, color, religion, gender, national origin/ethnicity, veteran status, disability status, age, sexual orientation, marital status, mental or physical disability or any other legally protected status.

Berkley is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance.
We have the expertise and resources to utilize our strengths in the present environment, and the flexibility to anticipate, innovate and respond to whatever opportunities and challenges the future may hold.

Responsibilities
This is an opportunity for a candidate with strong SQL and Excel skills and at least 2 years’ experience in insurance to train as a catastrophe analyst. The role would also suit candidates with up to 3 years catastrophe modeling experience.
 
The primary functions of the role include:

• Modeling US natural perils and terrorism accumulations for property and workers’ compensation business lines for several of the Group’s operating companies
• Communicating modeling results with the operating companies, and assisting them in fully utilizing these results in their pricing and exposure management

• Collating and reporting on catastrophe aggregations
• Assisting with corporate reporting on catastrophe modeling
• Assisting in the development of broad exposure-based models to estimate potential natural peril losses in business lines that do not fit within the commercial cat models
• Developing and implementing reporting and data solutions using SQL Server
• Participating in the design of operations and procedures to improve Catastrophe Modeling process

This challenging and rewarding role involves a high level of interaction with our operating companies, providing catastrophe modeling and analysis through the entire modeling cycle. Training will be provided in the principles of catastrophe modeling and the use of RMS modeling software. 
 
Qualifications
Technical Skills Required

• Bachelor’s degree (GPA of 3.0 or above) or higher in one of the following subjects:
  • Science, Technology, Engineering, Mathematics, or Actuarial Science
• Strong SQL programming/querying skills essential
• Skilled in Microsoft Excel; VBA programming experience preferred

• Adept at analyzing and reporting off of large relational databases
• Good understanding of insurance and / or reinsurance

• Strong mathematical and statistical skills
• While experience with RMS RiskLink DLM models would be an advantage, this role is also suitable for strong candidates who wish to train as a catastrophe analyst

Competencies

• Enthusiastic, proactive and enquiring personality
• Strong organization skills and attention to detail
• Strong verbal and written communication skills – must be able to express cat modeling concepts in a way that can be understood by a wide range of insurance and reinsurance practitioners
• Interested in participating in a range of projects, some of which will not be “traditional” cat modeling in nature

​Please use the following Url to apply to the opportunity:  https://careers-berkley.icims.com/jobs/2253/catastrophe-modeling-analyst/job?mode=view
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​The Catastrophe Modeling Analyst models individual accounts and supports portfolio analysis of US property operations with ad hoc projects focused on property exposure management. This is an excellent opportunity for an individual to gain practical experience in the field of Catastrophe Modeling.
Position & Responsibilities:

• Model individual property catastrophe accounts using AIR Touchstone software as part of a centralized team in support of regional underwriting operations.
• Learn and become proficient with general catastrophe modeling techniques and peril-specific modeling methodologies.
• Accurately capture and format for analysis specific inputs from underwriters and brokers.
• Collaborate with underwriters in making the best use of the modeling results.
• Provide analytical support for reporting and management of catastrophe exposure using database tools to scrub large datasets.
• Generate ad hoc reports providing insight on catastrophe risk to various business divisions including mapping of exposures by geographic territory.

TITLE:  Reinsurance Modeling and Exposure Assistant
DEPARTMENT:  Actuarial (Columbus, OH office location)
POSITION OBJECTIVE:  Assist in Catastrophe Modeling and Risk Management activities of the AAIC Columbus assumed business portfolio