Applications for 2021

Partner organisations and tasks of 2021

Application

The industrial master's programme is intended for first-year master students.
Submission deadline is November 1st, 2021.
To apply, please send to meelis.kaarik@ut.ee

a motivational letter (1 A4 or 1800 characters; in English or in Estonian) - please also describe the direction or topic you would like to choose and why;
a resume (CV);
please also include your phone number.

Besides the CV and the motivational letter, the applicant's academic achievement is also taken into account.

After the submission deadline, interviews will be held at the Institute of Mathematics and Statistics (if needed) and also at the partner company. Exact dates will be announced on an ongoing basis.

Website: https://www.if.ee/en/eraklient
Business domain: Non-life insurance
Working language: Estonian/English
Available positions: 1
Suitable curricula: Mathematics and Statistics, Actuarial and Financial Engineering

Description of the topic:

Property insurance risk modeling

Historically GLM has been regarded as gold standard when it comes to P&C insurance risk modelling. But world of statistics is not standing still and over the years various machine learning based approaches have been popping up promising superior predictive power. Aspect, that makes it tricky to use machine learning based methods as primary tool for P&C pricing is the fact, that they function as “black box solutions”, where data goes in and risk estimates for factor combinations comes out, without having possibility to split said estimate between individual factors. This means loss of understanding how individual factors impact risk, which we regard to be rather important thing to have. Thus, our interest is to find a way how to get best of these two worlds by combining transparency of GLM with capacity of machine learning to find deeper patterns in the data.

Website: https://www.swedbank.ee/private/insurance/start
Business domain: Non-life insurance
Working language: Estonian/English
Available positions: 1
Suitable curricula: Mathematics and Statistics, Actuarial and Financial Engineering

Description of the topic:

Industrial studies in Swedbank P&C Insurance

Swedbank is the largest bank in Estonia as it has more than 850 000 private and 130 000 business customers. We offer a wide selection of financial services, including accounts, mortgages, insurances, credit cards, loans, pensions, and investments, both for private customers and companies. Our goal is to help people and companies keep their finances in order over the long term. We follow three guiding values in all our activities: we are open, simple, and caring.

During the Industrial Master’s program, You will have an opportunity to contribute to the development of theoretical concept of usage-based insurance pricing.
The aim of the project is to create theoretical framework of implementing telematics into insurance pricing models. One of implementations of telematics in the insurance field is usage-based pricing. In addition to your personal project, you will have an opportunity to contribute to the development of traditional models and to the biggest project for business customers in Swedbank P&C Insurance.

What is needed in this role?
• Good skills in using MS Access, MS Excel, SQL
• Knowledge on how to work with large sets of data.
• Punctuality and curious mindset and the ability to see the big picture.
• Knowledge on how to work both independently and in a team.
• Previous experience with reporting tools like Power BI and Microstrategy are considered as an advantage.