AEGIS Insurance Services, Inc. has an immediate opening for a Catastrophe Modeling Analyst to perform duties that support the catastrophe management, underwriting and reinsurance information needs for AEGIS’s energy and utility business in New Jersey.
The position includes obtaining and preparing data for upload into a data aggregation system, running catastrophe modeling analyses, and analyzing results. Properly interpreting location level data is critical in determining location level exposure, ensuring optimal geocoding, and correctly assessing the catastrophe risk for an account. High quality data is needed to generate exposure management and risk aggregation reports for underwriters, senior management and reinsurance intermediaries.
Essential Job Functions
For larger accounts, upload submission information and prior year’s bound file to vendor website for data preparation; when account is available, download the file and verify the quality, validity and completeness of the account prior to modeling
For smaller accounts or accounts where a quick turnaround is needed, prepare and format location data for import into data aggregation software (currently OpenXposure); this usually involves reformatting data in a spreadsheet; it could also involve conversion of data from pdf or manual data entry
Verify quality, validity and completeness of the property location data prior to geocoding and catastrophe modeling
Where location information is incomplete, use internal and external sources to enhance it; where appropriate, use assumptions to distribute the values over selected geographic areas
Use information from the engineering reports to supplement submission information for occupancy type, year built, coordinates, building elevation, and flood defenses
Document the enhancements or changes made to each account to ensure data integrity
Build an effective working relationship with AEGIS underwriting and loss control staff
Prioritize CAT pricing requests based on Underwriters’ needs and quoting deadline; prepare CAT pricing reports including details on year-to-year account changes
On a monthly basis, use finalized policy wording to update location data in OpenXposure with participation, limit, peril sublimits, and peril specific deductibles
Add endorsement information to the policy when there is a cancellation, extension, a change in location values, or an addition or removal of locations
Answer questions from manager and colleagues regarding data discrepancies and make necessary corrections in the data aggregation system
Special projects as assigned
Minimum 2 years of catastrophe modeling and/or related work experience using catastrophe modeling software such as RMS or AIR
Undergraduate degree in mathematics, computer sciences, finance, actuarial science, or related discipline
Working knowledge of the RMS Industrial Facilities model used for highly-engineered structures
Working knowledge of insurance and reinsurance coverages
Proficiency with Microsoft Office: strong proficiency in Excel and Access for data manipulation, writing SQL queries and VBA
Achievement-Oriented: Demonstrates persistence and perseverance in achieving concrete and tangible outcomes by taking action to get optimum results when encountering obstacles or resistance
Collaborative: Develops and maintains effective working relationships across functional and divisional lines by readily sharing information, knowledge, and resources
Detail-Oriented: Displays thoroughness and accuracy in quality communications and deliverables through the application of technical skills and industry/product knowledge
Service-Oriented: Conveys a genuine desire and ability to anticipate and meet customer needs and creates and nurtures mutually beneficial relationships within AEGIS and with AEGIS Members and brokers
Work Ethic: Takes ownership for one’s responsibilities by acting with integrity and holding oneself accountable to continuous improvement
About AEGIS Insurance Services, Inc.
AEGIS is a leading mutual insurance company that provides liability and property coverage, as well as related risk management services, to the energy industry. Our policyholders represent virtually the entire energy infrastructure in North America, including electric and natural gas utilities, related energy companies, oil & gas exploration and production companies, water utilities, and transmission & distribution companies.
Our energy expertise, combined with a collaborative and fair approach to claims management and specialized loss control services, has set AEGIS apart from commercial insurance companies since the company was founded by its policyholder-members in 1975. AEGIS has continued to provide stable capacity and collaborative claims paying for more than 40 years – despite events such as the Superfund in the 1980s, the meltdown of Enron, the 9/11 terrorist attacks, Hurricane Katrina, Superstorm Sandy and the wildfires in the western United States.
AEGIS tailors more than a dozen types of liability and property coverage to match the individual needs of our policyholders and we offer primary coverages through an alliance with Everest National as well as side-A directo...rs and officers liability coverage through an alliance with Sompo International.
Our main office is in East Rutherford, New Jersey where we employ a professional staff of more than 200. AEGIS is the parent company of AEGIS London which operates Syndicate 1225 at Lloyd's of London. The syndicate offers specialist knowledge, expertise and leadership for energy companies as well as a wide range of non-energy classes traditionally written in the Lloyd's market. AEGIS also has licensed operations throughout Canada.
The company’s premium revenues are $1.6 billion and total assets are more than $7.0 billion. Additional details of our financial performance can be found in our recent annual report.
AEGIS enjoys an A.M. Best rating of A (Excellent) with a stable outlook.
AEGIS Insurance Services, Inc. participates in E-Verify