Analyst

Location

Mumbai | India

Job description

Intro

As a global insurance brokerage, Gallagher seeks to provide the best service to its customers. The Gallagher Service Center is a crucial component of our ability to provide industry-leading quality and customer service, helping our global teams serve our end customers better, meet regulatory requirements and improve speed to market.

We are ranked as the 4th largest insurance broking company, Headcount close to 6000 and growing, with a strong global business presence in insurance, risk management and consulting services with over 35,000 employees globally. Headquartered in the United States in Rolling Meadows, IL. At Gallagher, our top priority is to provide world class service to our customers globally, in a consistent manner.

The Gallagher Service Centre was established almost two decades ago and plays a key role in supporting various business divisions in Gallagher. We are present in five locations in India – Bangalore, Mumbai, Pune, Kolhapur and Shimoga. By adopting a fast and quality driven approach to support the field staff, at the GSC we ensure that our global teams achieve quick turnaround in customer service, better market reach and meet regulatory requirements.

Working at the GSC gives you the opportunity to join a growing global organization. We offer our employees an unmatched professional environment to use their skills, improve their knowledge and deliver tangible results.

At Gallagher, we want to empower you to make a difference, take control and make an impact. Gallagher believes that all persons are entitled to equality in our employment opportunities.

Job Summary -

Catastrophe Modelers quantify catastrophe loss potential of risk exposures carried by different entities, especially Insurers. III.

Job Description -

• Looking for candidates with 2+ years of experience
• The incumbent will be responsible for modeling insurance exposures for large, complex insurance books having complex insurance and/or reinsurance terms using leading catastrophe models like RMS RiskLink, AIR Touchstone, CoreLogic RQE as well as proprietary WTW models.
• This includes preparing the data for analysis, data scrubbing as well as data mining, generating probabilistic loss estimates using catastrophe models, creating and visualizing exposure and loss summaries, conducting loss feasibility studies to validate modeled losses, estimating the impact of model change, optimizing the reinsurance structure, etc. It also includes serving as the epicenter of all modeling action by coordinating between different offices and stakeholders in order to ensure modeling and client satisfaction goals are met.
• The ability to lead modeling efforts for top clients and finding innovative and bespoke solutions to complex problems is a key expectation at this level. The candidate is expected to use very advanced Catastrophe Modeling expertise in order to tackle any kind of challenge and guide other team members as and when needed. The right candidate should be skilled at training junior analysts and reviewing their work.
• Project planning/management and complex problem solving are some of the key skills needed in this role. The incumbent will be expected to continuously upskill themselves and do value add to the process/projects on a consistent basis.
• The candidate is expected to work on projects that include dynamic deliverables with shifting timelines, involving multiple stakeholders. The models and technology are also continuously evolving. As such, the candidate should display great alacrity and agility and should be an excellent team player who can adapt to changing circumstances and the dynamic nature of demands/challenges.

Primary Responsibilities

• Model input preparation - Includes data preparation as well as data scrubbing using SQL/Excel.

• Analyzing the exposures - Includes geocoding the exposures, implementing modeling assumptions accurately in the modeling process, ensuring correct model and peril settings, etc. in order to quantify insurers' catastrophe loss potential.

• Generating reports - Includes using internal tools like iFM, WorkFlowManager for creating exposure as well as loss summary reports, visualizing various statistics by creating maps using SpatiaKey, ArcGIS, etc.

• Running proprietary models - Running customized peril analysis using WTW proprietary models. • Model Sensitivity Analysis - Testing the change in model output with change in input parameters. • Validating losses - conducting loss feasibility studies to validate modeled losses.

• Model change management - stay updated with changes in models and conduct studies to estimate the impact on modeled client losses. Job Description

• Leading RFPs - Utilize the extensive modeling experience in leading RFPs where prospects usually do not share any data.

• Optimizing reinsurance - Model different reinsurance structures to identify the optimum structure in order to maximize client profitability.

• Mentoring - Mentor specific junior analysts in the team dedicatedly in order to minimize their learning curve.

• Training - Participate in training programs in order to train new recruits.

• Knowledge share - Conduct regular knowledge share sessions within and/or outside the team

• Leading eVENT Response - help coordinate the live eVENT response, generating reports and managing client interactions on timely basis

• The incumbent will be expected to co-ordinate and communicate with the onshore lead analyst as and when needed in order to

• discuss the progress made as well as any items of significance

• seek feedback and suggestions

• The incumbent is also expected to co-ordinate and communicate effectively between multiple offices and stakeholders on a regular basis in order to

a. discuss project plan and resource allocation

b. discuss the progress made as well as any items of significance

c. seek feedback and suggestions

d. share insights into modelled losses and reports

e. act as the main coordinator between multiple stakeholders

Qualifications -

Education Major Graduate/Post-Graduate in any Quantitative Discipline, preferably,

but not limited to, Mathematics/Statistics/Economics, Engineering, etc.

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