Artificial Intelligence Lead - Insurance Domain
Country: Spain
Location: Madrid
As an Artificial Intelligence Lead for the Insurance Domain, you will drive the strategic development and implementation of AI technologies across the insurance value chains, accelerating digital transformation, enhancing risk assessment capabilities, improving claims efficiency, and strengthening customer engagement through advanced AI solutions.
The role sits within the insurance domain and works closely with the WM&I Chief Data & Artificial Intelligence Office (CDAIO) and with Insurance Product, Underwriting, Claims, Pricing, Risk, Distribution, and Operations teams.
Responsibilities
* Develop and execute a comprehensive AI strategy aligned with Insurance business objectives (growth, loss ratio optimization, customer retention, operational efficiency).
* Identify and prioritize high-impact AI and GenAI use cases across the insurance value chain, including:
o Underwriting automation and risk scoring
o Pricing optimization and actuarial modeling enhancement
o Claims automation and fraud detection
o Customer service virtual assistants and policy servicing
o Document intelligence for policy and claims processing
* Design and deploy AI-powered solutions to improve combined ratio, customer experience, and operational scalability.
* Lead cross-functional teams (Data Science, IT, Actuarial, Risk, Operations, Compliance) in AI solution design and integration.
* Oversee development, validation, and monitoring of machine learning models for predictive analytics and risk modeling.
* Ensure compliance with insurance regulatory frameworks, model governance standards, data privacy laws, and ethical AI principles.
* Drive AI research, prototyping, and proof-of-concept initiatives focused on insurance innovation.
* Establish and manage partnerships with AI technology vendors, insurtech firms, and research institutions.
* Promote AI literacy and change management across Insurance business units.
Qualifications Professional Experience
* Proven experience with GenAI and AI/ML applications in Insurance. (Required)
* 8+ years of experience in AI/ML roles with strong applied problem-solving background. (Required)
* 5+ years of experience in Insurance (Life, P&C, Health, or Reinsurance) or insurance technology. (Required)
* Demonstrated experience implementing AI/ML solutions in underwriting, pricing, claims, fraud, or customer analytics. (Required)
* Experience leading large-scale AI programs and managing multidisciplinary teams. (Required)
* Strong understanding of actuarial concepts, risk modeling, and insurance KPIs (loss ratio, combined ratio, retention, claims leakage). (Required)
Education
* BSc or MSc degree in Computer Science, Artificial Intelligence, Mathematics, Actuarial Science, Engineering, or related quantitative field. (Required)
* AI/ML, cloud, or data science certifications. (Preferred)
Languages
* Fluent English and Spanish (Required)
Hard Skills
* Expert-level knowledge of machine learning algorithms and predictive modeling.
* Strong understanding of GenAI, LLM applications, and prompt engineering in regulated environments.
* Proficiency in Python and AI development frameworks.
* Experience with cloud AI platforms (AWS, Azure, GCP).
* Knowledge of MLOps, model governance, and model risk management frameworks.
* Understanding of actuarial modeling and insurance risk assessment processes.
* Familiarity with insurance regulatory requirements (e.g., Solvency II, IFRS 17, local supervisory frameworks).
Soft Skills
* Strong strategic thinking and innovation leadership capabilities.
* Excellent communication skills across technical and business stakeholders.
* Advanced analytical and problem-solving skills.
* Experience leading organizational change and AI-driven transformation in insurance environments.
Benefits
* Hybrid working models – some days remote, some days onsite with flexible hours.
* Learning for life: Access hundreds of courses, including Santander Open Academy.
* Competitive rewards: highly competitive salary with performance-based bonuses.
* Financial advantages: preferential banking terms, special interest rates on loans, life insurance, and more.
* Health priority: BeHealthy wellness programme promoting holistic wellbeing.
* Family support: childcare support and family‑friendly programmes tailored to life stages.
* Employee support: Santander Contigo – legal, emotional, and administrative advisory services.
* Extra benefits: Gym/WellHub membership, medical centres, meal subsidy, parking, shuttle service, exclusive discounts and offers.
EEO Statement
Santander is proud of being an organization where there are equal opportunities regardless of age, gender, disability, civil status, race, religion or sexual orientation. We are committed to providing an inclusive and accessible application process for all candidates.
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