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Industry

Marine Insurance

Job Title

Head of Data

Role

Responsible for the collection, management, and presentation of data

Data

Vessel Data, Vessel Tracking Data, PSC Data, Claims Data, Casualty Data, Weather Data, Port Data, Compliance Data

Marine Insurance

The marine insurance industry provides coverage for risks related to transportation of goods and people via waterways, including ships, boats, and other vessels. It helps protect against losses due to damage, theft, accidents, and other perils that may occur during transit.

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Role
Data

The role of a Head of Data at a Marine Insurer involves managing and overseeing the data-related activities within the organisation. This would typically include tasks related to data acquisition, storage, analysis, and visualisation, as well as ensuring data governance and security. Here's a detailed workflow that outlines the key steps and responsibilities of a Head of Data at a Marine Insurer:


Define Data Strategy: Collaborate with senior management to establish a clear data strategy aligned with the company's goals and objectives, and using this information, identify key data-related challenges and opportunities in the industry.

Once this has been understood, determine the data requirements necessary to support business operations, decision-making, and future growth.


Data Governance and Security: A head of data must establish data governance policies and procedures to ensure data quality, integrity, and compliance, as well as defining data security measures to protect sensitive information and ensure regulatory compliance (e.g., GDPR, data protection laws).

The objective of this is to develop and implement data access controls and authorisation mechanisms to safeguard data assets.


Data Acquisition and Integration: Identify relevant internal and external data sources for the marine insurance company, such as vessel telemetry, weather data, market trends, and customer information and collaborate with IT teams to design and implement data integration processes, data pipelines, and ETL (Extract, Transform, Load) workflows.

This also includes working with vendors and partners to establish agreements to integrate their data into the organisation's systems.


Data Storage and Infrastructure: Design and manage the data architecture and infrastructure required to store, process, and analyse large volumes of data to ensure data scalability, availability, and performance by monitoring and optimising database systems and infrastructure.


Data Analysis and Insights: Lead a team of data analysts and scientists to extract meaningful insights and actionable intelligence from the collected data by defining and implementing data analysis methodologies, statistical models, and machine learning algorithms to derive valuable insights. This is supported by collaborating with domain experts and stakeholders to identify and prioritise analytical projects that address critical business challenges.


Data Visualisation and Reporting: Develop interactive dashboards, reports, and data visualisations to communicate key findings and trends to various stakeholders, typically utilising data visualisation tools and platforms (e.g., Tableau, Power BI) to create intuitive and impactful visual representations of complex data sets.

These are created or enhanced by collaborating with business teams to understand their reporting requirements and ensure the delivery of accurate and timely reports.


Data-Driven Decision Making: Working closely with business units and departments to foster a data-driven culture and promote the use of data in decision-making processes to provide guidance and support to stakeholders in understanding and interpreting data-driven insights. To promote continuous development, heads of data will also conduct regular data-driven reviews and discussions to identify opportunities for improvement and drive operational efficiency.


Continuous Improvement and Innovation: Stay updated with the latest trends, technologies, and best practices in data management and analytics to better evaluate and implement innovative data tools, techniques, and platforms to enhance data capabilities as well as optimise processes. Training and support is also provided to help the organisation foster a culture of continuous learning and skill development.

Stakeholder Management: Collaborate with cross-functional teams, including IT, operations, finance, and marketing, to ensure data initiatives align with business objectives, and engaging with these teams to provide regular updates on data initiatives, progress, and outcomes. Heads of Data will act as a liaison between the data team and other business units, ensuring effective communication and understanding of data requirements.

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Head of Data - Marine insurance

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