Senior Data Scientist

JOB PURPOSE:

• Assists in designing overall Analytics strategy to enable business growth and helps in discovering new opportunities through analytics.
• Using Data Science Machine Learning algorithms claims analysis and fraud/nexus identification for claims optimization and fraud prevention strategy.
• TP Claim optimization specially in Pay Recovery and fraud identification using AI/ML techniques.

PRINCIPAL ACCOUNTABILITIES:

1. Cross Sell-

• Conduct Multiple experiments/POC for cross sell which help to identify customer need and want on insurance products
• Propensity model Creation Using Machine learning and AI for providing Next Best Product to customer
• Analyzed Vertical wise customer behavior to understand best time to pitch next best product
• Communicate with respective stakeholders on cross sell strategy and planning

1. Customer Loyalty

• Defined Customer loyalty with available data, identify best parameters which define loyalty of customers
• Score customers using ML/AI models based on their purchase behavior and categorized them on different loyalty bucket
• Regular Discussion with the segmentation committee comprising of representative from BAGIC and Group is in progress to refine the segmentation.
• Discussion with IT team to Auto stamping of Loyalty in system

1. Geo expansion analytics

• Design/Ideation of business expansion strategy leveraging data science driven models for new and existing verticals across national/local levels and refer for approvals / signoff from NHOD and finance.
• Plan design communication plan for all the campaigns.
• Geographical and Vertical wise categorization of Locations and pin codes mapped against each of these locations using machine learning techniques.
• IIB health data analysis to identify BAGIC low penetrated locations where competitors are doing profitable and good business - opportunity identification

1. Claims Analytics Management -All Channels/LOB

Create the framework for claims optimization leveraging data science technique at all levels -Customer entity and distribution

• Work jointly with ILM, Legal team to find fraud and nexus with the help of data.
• Closely work with Claims team on OD-STP engine creation and optimization along with other LRP projects.
• Entity Optimization (Repairer Anomaly Detection)- Identify the anomalous behavior of Repairer Entities with respect to a benchmark of its peers.

1. Customer level data Enrichment

• Internal and External data (Group, Prospect, Bureau) sources identification and utilization to create opportunity on organization level to enrich Customer level information

1. Strategic and functional planning

• Assists in evaluating short-term and long-term business challenges/ requirements to ascertain if the same can be resolved using analytics.
• Uses analytics to understand the organizations advantages and sharing the same with key stakeholders.
• Sensitizes the relevant stakeholders on the strengths of adopting analytics for the business such as higher process efficiency, better decision making, reduction in risk, etc.

1. Analytics Management

• Performs predictive modelling including data extraction using R / SAS/ Python tools . Shares the inputs from the same with key stakeholders.

• Assists in monitoring business, identifying issues if any and communicating the same to the potential users of the data.
• Performs end to end predictive modelling for all data points, including vetting the data, identifying outliers, understanding data points which are missing, and creating features based on the same for the best use of the business.
• Performs renewal studies for all lines of business and sharing insights with the various stakeholders.
• Assists in institutionalizing analytic learnings across businesses and processes. Understands the business demands and undertake initiatives to cater to the same.
• Study and analyze previous year s data points for fraud detection with the ability to decipher trends / patterns from the same to understand the relevant trends and share the same with the stakeholders.

1. Team development

• Participate in recruitment process to identify the right talent within the function
• Establish individual performance expectations and regularly review individual performance of the team.
• Identify and create development opportunities for team members to enhance functional knowledge

1. Strategic Partner Management

• Identify and Create Capabilities leveraging FinTech and InsuTech Partners ecosystem.
• Create data science utilities to be used by internal team leveraging Analytics Vendors

SKILLS AND KNOWLEDGE:

Educational Qualifications

1. Qualifications

M.Tech / MBA (Analytics), M.Sc. Statistics/Economics, Ph.D in Statistics/Economics or equivalents

1. Work Experience

7-10 Years of Relevant Work Experience

1. Technical Skills
   • Have implemented at least 3 predictive/ machine learning models end to end
   • Machine learning/ AI experience (3+ Years)