Insurance Structuring Data Scientist, Floodbase
AI and satellite flood tracking
Open for applications
AI and satellite flood tracking
1-20 employees
Open for applications
1-20 employees
Company mission
To enable all communities to prepare and respond to climate disasters by reducing the barriers to scientific information and capital.
Role
Who you are
- Have prior experience with statistical inference in complex dynamical non-stationary systems (especially utilizing extreme value distributions), exploratory data analysis, and data visualization, preferably with data and models associated with climate perils or other hazards using programming languages such as Python or R
- A doer; you’re ready to roll up your sleeves and are comfortable building methodologies and features within nascent markets with ambiguous requirements
- Comfortable working with and communicating to a wide variety of stakeholders from machine learning scientists to software engineers, senior management and external audiences
- Bachelor’s degree in Engineering, Statistics, Mathematics, Earth Science, Data Science, or related quantitative disciplines (a graduate degree is a plus)
- Prior experience in the risk transfer domain preferably within NatCat perils such as wildfire, earthquakes, tropical cyclones, severe convective storms and/or floods is a plus
- Demonstrated understanding of (re)insurance risk is a plus
- Experience working with modern technical data platforms including APIs and other automated data delivery mechanisms is a plus
What the job involves
- As we expand, we are seeking an Insurance Structuring Data Scientist to join our technology team to help us solidify our flood data platform’s position as the preferred solution for the parametric flood insurance market.
- This role will be responsible for developing principles to guide parametric flood policy structuring leveraging their deep understanding of the scientific and technical principles underlying the Floodbase product.
- As we grow, this role will push our product forward by establishing novel structuring solutions which minimize basis risk and allow more floods to be covered by parametric flood insurance.
- The role is hybrid, requiring regular in-office presence in Brooklyn, NY or Boston, MA, and will report to the Chief Product & Strategy Officer
- Design parametric flood insurance structures that enable (re)insurer partners to efficiently price submissions
- Present and communicate policy payout structures to insurance carriers
- Develop creative structures that balance the needs to (re)insurers and risk holders
- Actively support insurance carriers through their underwriting process, resolving any questions about Floodbase methodology, payout structure design, and data
- Design pricing models for new flood insurance programs powered by Floodbase
- Develop a repeatable methodology for the program pricing model that can be easily repeated for submissions
- Establish buy-in and acceptance of pricing model with (re)insurance carriers providing capacity behind the program
- Support the commercial team during client outreach, specifically by supporting clients to evaluate their coverage needs and options
- Drive development and adoption of novel techniques to estimate flood risk based on Floodbase data
- Use Floodbase data and models to estimate flood risk for businesses, governments, and communities
- Statistical analysis of flood frequency and risk profiles, and how they change over time
- Design and improve methodologies and models for estimating flood risk and event damage with Floodbase data
Our take
As natural disasters increase in occurrence due to climate change, Floodbase is addressing the uneven preemption times of insurers and government bodies by mapping and tracking potential floods through satellite imagery. Floobase uses the data collected to influence insurance claims and help communities prepare and respond to oncoming floods.
Founded by Masters students at Yale University, Floodbase’s prototype was supported by Google and quickly gained interest from investors due to its convergence of social and financial adaptation goals. Backed by several major low carbon investment firms, Floodbase’s photography has been featured on the front cover of major publications and its technology has been used by the United Nations to help improve disaster response times.
With plenty of capital behind it, Floodbase has little in the way of competition and is using its technical capabilities to develop new types of flood insurance for vulnerable communities.
Kirsty
Company Specialist at Welcome to the Jungle
Company
Funding (last 2 of 5 rounds)
Jan 2023
$12m
SERIES A
Sep 2022
$12m
SERIES A
Total funding: $32.6m
Company HQ
Downtown Brooklyn, NY
Articles
Leadership
Beth Tellman
(Chief Scientist)Currently Assistant Professor at University of Arizona. Previously Postdoctoral Researcher at Columbia University and MA Environmental Science at Yale University.
Bessie Schwarz
(CEO)Previously Strategist at Yale Program on Climate Change Communication, Research Affiliate at Data Pop Alliance and Field Doctor at Environment Colorado.
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