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Risk Modeling Analyst I - ICAT

Location: Broomfield, Colorado, United States

Company: Marsh

Job ID R_045259-en

Position Summary

This position is responsible for manipulating large databases of property insurance data, running natural disaster computer simulation models, analyzing loss estimates and presenting the results to internal and external clients via reports, exhibits, maps and graphs and formal presentations.  The position requires strong technical, analytic, and communication skills.

Essential Responsibilities

To perform this job successfully, an individual must be able to perform each essential responsibility satisfactorily. 

  • Understanding general catastrophe modeling techniques and peril-specific modeling methodologies including specific inputs, outputs and processing components for models used by ICAT.
  • Performing sophisticated analytical risk analyses using RMS technology platform for internal and external reporting, support of reinsurance structures, technical evaluation of business opportunities and pricing support for large individual accounts.
  • Responsibility for catastrophe modeling process efficiency, data and report effectiveness, and quality assurance processes.
  • Understanding modeling related data flows and impacts, intelligent decision-making with regards to use of various company data elements, and documentation such as technical specifications and position papers.
  • Supporting requests by the business and product unit leaders to help assess, manage and price catastrophe risk through the use and interpretation of modeling results.
  • Serving as the modeling subject matter expert through understanding and communication of modeling methodologies, sensitivities and uses.
  • Assisting with the installation, quality assurance, and resolution of technical problems associated with the software.
  • Analyzing the changes in loss estimates produced by the models and communicating model change impacts to underwriting and leadership teams.
  • Supporting the operational and underwriting transition to the new models and the associated computing infrastructure.
  • Constructing and improving the annual claim potential reports which are built using historical claims experience and catastrophe modeling software.
  • Analyzing real-time catastrophe events to determine the potential number of claims and amount of loss.
  • Compiling historical loss data, comparing with modeled results, and communicating observations and recommendations.
  • Understanding and articulating the basic scientific concepts associated with earthquakes and hurricanes relevant to understanding catastrophe risk.
  • Maintain knowledge of and support ICAT’s company values and strategic plan.
  • Sit or stand and work at a computer keyboard for extended periods of time.
  • Stoop, kneel, bend at the waist and reach.
  • Work is generally scheduled Monday through Friday with some evening, weekend and holiday hours.

Other Responsibilities

  • Perform general office administrative activities, including copying, filing and using the phone.
  • Able to lift up to 25 pounds occasionally.
  • Additional duties as assigned.

Preferred Job Qualifications

  • BS degree in Mathematics, Actuarial Science, Engineering, Computer Science, Business, or related sciences preferred with emphasis on data analysis.  Business skills and coursework is a plus.
  • Experience in running catastrophe models. 
  • Actuarial or property underwriting experience in insurance or reinsurance preferred.

Founded in 1998 and based in Broomfield, Colorado, ICAT is a leading provider of property insurance protection to homeowners and businesses located in hurricane- and earthquake-exposed regions of the United States. ICAT draws from highly specialized underwriting expertise and advanced technology tools to offer brokers and their clients market-leading catastrophe coverage. Along with its subsidiary, Boulder Claims, ICAT’s inherent promise to policyholders is to assist people and businesses as they recover from disasters. ICAT programs currently protect over 85,000 homeowners and business owners in catastrophe-exposed regions of the US.

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