Associate Predictive Modeler

(Reference code: 000305) Status: Full Time, Employee Location: Northbrook, IL 60062 Job Category: Biotech/R&D/Science Career Level:Experienced (Non-Manager) Education Level: Bachelor's Degree Job Description: The Allstate Corporation is the nation’s largest publicly held personal lines insurer. A Fortune 100 company, with $156 billion in assets, Allstate sells 13 major lines of insurance, including auto, property, life and commercial. Allstate also offers retirement and investment products and banking services. Allstate is widely known through the “You’re In Good Hands With Allstate®” slogan. Allstate was founded in 1931 and became a publicly traded company in 1993.The purpose of this department is to apply economic, quantitative, statistical, and actuarial skills in the development of new pricing and financial models which contribute to Allstate's growth and profitability. We communicate this work to other departments and support implementation. This collaborative relationship helps Allstate win in an ever-changing and highly competitive marketplace  The scope of this job is to apply economic modeling and quantitative skills to contribute directly to new pricing and financial model development. Obtain, analyze and translate data into useful business information for development of new products and services, as well as competitive product pricing strategies.  The position will be responsible for Identifying drivers of insurance costs, and estimating the expected losses for a risk using advanced statistical techniques. Applying advanced statistical concepts to assist in the development of new business models for customer retention and new customer growth initiatives. Using data mining techniques to build business models and estimate the future value of customer segments. Estimating the economic impact of operational decisions. Analyzing business strategies to measure overall effectiveness and analyze the impact of proposed legislation on our business. Consulting with other operational departments such as claims, marketing and risk management. Applying quantitative analysis skills to solve business problems, and communicate/present findings and recommendations to senior management. The skills required are 1. Solid skills and training in statistical modeling and other quantitative and research analytics (Linear and Non-Linear Regression Analysis, Multivariate Analysis, Bayesian Methods, Time Series Analysis, Generalized Linear Models, etc.). pBeginner xIntermediate pAdvanced 2. Strong written and verbal communication skills including the ability to effectively collaborate with multi-disciplinary groups and all organizational levels. pBeginner xIntermediate pAdvanced 3. High level organizational and project management skills in order to handle multiple concurrent assignments in a timely manner. pBeginner xIntermediate pAdvanced 4. Strong decision making skills.  Experience Required: (type of experience and number of years required) At least 5 years of related experience from the insurance industry related to property and casualty (personal or commercial) business lines.  Computer Proficiency: (computer skills needed to do the job) Comfortable with basic data related and presentation packages like Access, Microsoft Excel, MS Word, PowerPoint etc. Familiarity with statistical packages such as SAS, Splus, Metlab, SPSS, or STATA is a plus.  Education:  Masters/MBA preferred Major preference: Master's degree in Statistics/Applied Statistics, MBA, Applied Mathematics, Operation Research, Economics, Engineering or professional actuarial designation. PhD is preferred; OR a Masters Degree and 5 years of prior experience from the insurance industry related to statistical modeling.