LexisNexis seeks ‘cream of the crop’ after introducing two new graduate programmes

LexisNexis Risk Solutions bolstered its university offering with two year-long Statistical Modeller Rotational graduate programmes.

The insurtech is looking to recruit the “cream of the crop” from the courses newest emerging talent.

And it has just appointed its very first graduate in the UK and Ireland, it hopes to increase its annual in-take over the next few years.

It follows the increasing demand for data modelling skills to support insurance risk decisions.

The programme

The structured programme offers graduates six months exposure to the four analytics streams in the company as well as the opportunity to progress with the team that best matches their skillset and interest:

•  Telematics
•  GIS
•  Analytics Audit
•  Analytics and Statistical Modelling (for Pricing and Underwriting)

Alan O’Loughlin, head of statistical modelling for Europe at LexisNexis Risk Solution hopes it will create a “more rounded analytics employee with capabilities across the board.”

It has only recently been initiated in the UK and Ireland after successfully launching in the firm’s US insurance business. 

O’Loughlin added: “Our links with the universities are part of a wider commitment by the business to engage with people interested in big data.”

Demand

“Through our own knowledge and experience in this market we have seen the demand for data scientists grow significantly in the past five years. This has been driven by the growth in data sources and the strategic advantage insurance providers can now gain from harnessing the power of this data with advanced analytics,” he said.

The insurtech established key partnerships with the University College Cork and University College Dublin.

The LexisNexis Risk Solutions team then visited these two universities to discuss the business, the statistical modelling team and the programme.

And initial interviews were held on campus for interested graduates with an additional round in the insurtech’s Dublin office prior to selection of the chosen candidate.

In December last year, AXA partnered with charity, AutoRaise  to address the skills gap for vehicle repairers in the hope of attracting younger staff after it was revealed that the average age of a person with this job was over 45.