Underwriting & Claims Data Analytics Lead (Chicago)

Vouch Insurance

Vouch Insurance

Data Science
Chicago, IL, USA
Posted on Thursday, August 31, 2023

About Vouch:

Insurance... sounds slow, old-fashioned, and unexciting. Exactly. Insurance is broken, and it's failing fast-moving, innovative startups.

Vouch is a new, technology-first insurance company backed with $160M in funding from world-class investors. Like Stripe for payments or Brex for credit cards, Vouch is creating the go-to business insurance for high-growth companies.

We're doing this by making insurance fast, responsive, and focused on our high-growth and innovative customers. Instead of printed PDF applications and week-long waits, Vouch is building new technology to solve real problems, writing policies that actually cover relevant startup scenarios, and designing simple experiences in an otherwise frustrating industry.

What does a work environment look like at Vouch?

Vouch is a Virtual First Workplace with SF and Chicago office locations. This role can be based anywhere in the U.S. as long as you can work our Vouch core collaboration hours (8:30 a.m. - 2:30 p.m. Pacific Time).

The Job:

Vouch seeks a creative, motivated, and innovative underwriting analyst to expand our analytical capabilities and drive unique insights from insurance datasets. Your primary responsibility will be assisting our underwriting leadership in developing data-driven underwriting practices and objective risk assessment capabilities.

You will play an integral role in developing analytical processes that support Vouch’s mission of crafting the best insurance for those building the future. A highly qualified candidate can work with multiple sources of seemingly disjoint data and a set of broad goals Vouch wants to achieve and can take the initiative to extract insights and make actionable recommendations for our Underwriting leadership. This is a high-impact, cross-functional role supporting and enhancing the work of various teams.

Role Responsibilities:

  • Third-party reporting: Manage all external reporting requests (Fronting Carrier, Reinsurers, State DOIs), triage internal resources, and produce data submissions.
  • Insight reporting: Develop and manage underwriting Mode dashboards/reports. Provide Portfolio Underwriting Leads with various monthly insights that they can use in their decisions to improve Loss Ratio performance, Gross Written Premium growth, underwriting practice consistency, and underwriting efficiency. This includes claims trends or issues, inconsistent underwriting practices, lost business trends, and opportunities to drive more straight-through processing.
  • Claims analytics: Assist the Claims team with managing data collection, dashboard, and reporting needs. Apply statistical inference to insurance data to draw insights about claims, underwriting appetite, underwriting operations, and emerging risk trends.
  • Broadcasting underwriting metrics to the rest of Vouch by developing scalable analyses in collaboration with analysts across Vouch teams and adhering to Vouch analytics best practices.
  • Manage third-party relationships relating to external underwriting tools and resources.
  • Provide analytics capabilities to compliance and risk management committees to identify and mitigate company risks.
  • Create unorthodox analytical techniques to enhance underwriting efficiency.
  • Qualitative and quantitative research on competitor insurance innovations, risk trends, litigation trends, and applicability to Vouch’s underwriting.

About you:

  • 4+ years in an analytical capacity as an actuarial analyst, data analyst, or underwriting assistant/analyst
  • Strong data querying ability in SQL
  • Strong programming and data analytics experience in R or Python
  • Grit to dig into root causes of changes in company performance metrics and make actionable recommendations
  • Proven ability to find patterns in data, present findings, and create systems to monitor results
  • Prior experience in P&C insurance with a deep understanding of commercial insurance products and the willingness to rapidly learn about new insurance developments
  • Proficiency in Excel and Microsoft Office products
  • Exceptional communication skills, with an emphasis on real-time interaction, either written or verbal
  • Ability to effectively manage multiple projects and prioritize high-impact work

Nice to have:

  • Exposure to and passion for early-stage startups and/or high-growth environments
  • Strong interest in commercial insurance products, especially Professional Liability, Cyber, Property, and General Liability
  • Exposure to data science methodologies, especially GLMs, decision trees, and machine learning

Vouch provides a number of benefits to help you bring your best self to work:

  • Competitive compensation and equity packages
  • Health, dental, and vision insurance
  • Parental leave
  • Flexible vacation time (Unlimited PTO)
  • Wellness allowance ($80/month)
  • Technology allowance ($100/month)

Salary Range:

The pay range for this role is: $130,000 to $145,000 per year.

Our salary ranges are based on paying competitively for our size and industry and are one part of our total compensation package that also includes benefits and other perks.

We also include stock options in all compensation packages and believe all Vouch employees should have the opportunity to become owners in the company.

Individual pay decisions are based on a number of factors, including qualifications for the role, experience level, skill set, location, and business need. The base pay range provided is subject to change and may be modified in the future.