Actuarial Data Scientist

Who we are

GIG Gulf (a Fairfax company) is part of the Gulf Insurance Group (GIG), the #1 largest regional composite insurer in the Middle East and North Africa, with presence in 12 markets including the United Arab Emirates, Bahrain, Oman, Qatar, Saudi Arabia, Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, and Turkey. GIG Group reported consolidated assets of US$ 4.01 billion and $84 million net profit for the year 2024. The majority shareholder of GIG Group is Toronto based Fairfax Financial Holding, a global leader in insurance and reinsurance with a presence in 40 markets.

GIG Gulf is an ‘A’ rated regional insurer with a top 5 position in each of its markets (UAE, Oman, Qatar, Bahrain). GIG Gulf has been present in the region for over 70 years with a strategic focus on both growth and investments and is a one stop shop offering a wide range of insurance products and services that cater to a broad variety of needs for corporates, SMEs and individual customers throughout UAE, Oman, Bahrain, and Qatar. GIG Gulf also owns a 50% stake in GIG Saudi. Our strategic objectives and guiding principles are focused on Regional Growth, Customer Experience and Digital Transformation.

GIG Gulf has created a diverse and inclusive working environment and culture with a workforce of over 800 employees, with over 60 nationalities, across 15 branches and retail shops region-wide and over 1 million customers. GIG Gulf is a caring partner that encourages customers to achieve their goals and live an inspiring and fulfilling life. We are obsessed with customer feedback and continuously evolving to become the region’s digital insurer of reference, committed to running our operations in a responsible, sustainable way.

Job purpose:

If you’re a dynamic Actuarial Data Scientist with 3 to 5 years of significant P&C or Healthcare actuarial reserving experience, join us to revolutionize healthcare insurance through transformative power of data-driven approaches.

As an Actuarial Data Scientist at GIG you’ll play a vital role in strategic decisions by combining actuarial insights with data science methodologies. Collaborate across departments, analyze complex datasets, build robust models, and utilize visualization tools to shape healthcare reserving results and contribute to an accurate profitability analysis of the business.

Key Responsibilities:

• Manage monthly reserving tasks for Healthcare lines of business, ensuring precision and regulatory compliance.
• Develop tailored reserving models for diverse Healthcare segments, encompassing Commercial Lines (SME, Corp) and Personal Lines (PL).
• Conduct profitability analysis for various Healthcare segments, contributing to well-informed strategic decisions.
• Contribute to regulatory reporting, including the implementation of IFRS17 requirements.
• Foster collaboration with external actuaries, auditors, and reinsurers for alignment and compliance.
• Assist in ad-hoc studies requested by the Head of Actuarial across various lines of business.
• Stay updated with industry trends and best practices in both actuarial science and data science domains.

Operational & Technical Responsibilities:

• Collaborate closely with actuarial, IT, risk management, claims operations, accounting, and audit teams to understand business needs and develop data-driven solutions for healthcare reserving.
• Display expertise in a range of reserving techniques, including Chain Ladder, Mack, Bootstrap and stochastic modeling.
• Demonstrate proficiency in industry-standard software such as ResQ and IBNRS for robust reserving knowledge.
• Utilize advanced data science tools including SQL, Postgres, Python, and C++ for data manipulation and analysis.
• Employ tools like Power BI for dynamic dashboard creation, effectively communicating intricate findings.
• Apply statistical analysis and predictive modeling to identify trends and risks within complex healthcare datasets.
• Collaborate with IT teams to ensure data security, integration, and integrity, actively contributing to data governance.

Essential Requirements:

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Data Science, or related fields.
• 3 to 5 years of significant experience in P&C or Healthcare actuarial reserving positions, with a strong focus on healthcare reserving and related tasks.
• Proficiency in SQL for data extraction, transformation, and querying from relational databases.
• Strong coding skills in R and Python, along with C++, with familiarity in tools like SAS and Postgres.
• Sound experience in advanced statistical analysis, predictive modeling, and data visualization techniques and tools such as Power BI.
• In-depth knowledge of various P&C reserving techniques, including Chain Ladder, Mack, Bootstrap stochastic modeling, Bornhuetter-Ferguson, etc.
• Effective communication skills for translating complex findings to diverse audiences.

Desirable Requitements:

• Actuarial certification (partially or fully validated) from globally recognized institutions such as SOA, IFoA, French Institute of Actuaries, or equivalent actuarial bodies is advantageous.
• Good knowledge of machine learning libraries and techniques.
• Familiarity with AWS Datalake and understanding of R Shiny would be beneficial.
• Experience in the healthcare insurance industry is a plus.