****This is a hybrid work arrangement. ****
Who we are
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Get to know the business
General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.
As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem- solving skills as you improve how we predict and mitigate risk. Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management.
About the role
We are seeking a pricing actuary to support our growing US Programs business. The actuary will help elevate the technical capabilities of the underwriting team through dynamic work projects such as new program due diligence & onboarding, rate filings, rate studies, price monitoring, trend analyses, and building out portfolio management & steering and insight tools. The individual will be a trusted business partner, working with groups like underwriting and product development to understand account decision making and pricing practices to support Programs in ensuring profitable growth. Our actuaries work closely with our MGA partners as well, providing insight and tool assistance as a value add for our business.
What you need to know:
- Lead rate studies and communicate results for the US Programs segments. Identify areas to explore further to diagnose potential areas of concern and recommend remediation strategies
- Perform due diligence analyses for prospective business and support onboarding for approved programs
- Support rate filings for admitted programs, collaborating with product development and general counsel
- Work closely with underwriting business partners to review market trends, understand portfolio shifts, identify pockets of profitable business, and help management develop and quantify the impact of underwriting actions
- Assist MGA partners in better understanding their own data capabilities. Build data “bridges”, performance monitoring, and rate tool support.
- Help advance the team’s ability to perform deeper analytics such as ranges of reasonability, sensitivity testing, and optimal portfolio mix
- Monitor loss trends and relevant industry/regulatory changes, and effectively communicate to management
- Estimate, review, and evaluate actual monthly claim emergence against expectations
- Support the annual planning process
- Ensure model validation, SOX compliance and documentation standards are met
What we’re looking for:
- BS in Actuarial Science, Mathematics, Statistics, or related area preferred
- ACAS or FCAS credential
- CPCU, RPLU, ARM or other insurance credentials preferred
- 7+ years’ experience, commercial lines required, with history of Programs or delegated underwriting highly preferred.
- Experience across a broad array of Commercial Lines, including: Property, Auto, General Liability, and Professional Liability
- Proficiency in Microsoft Office required
- Experience in SQL and/or R highly preferred, Power BI or Tableau preferred
- Strong relationship building skills, with the ability to influence others and drive a process to a conclusion while meeting critical deadlines are critical to success.
- Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically.
- Work well both independently and as part of a team
- Flexibility and effective time management skills
- Excellent communication, presentation, and interpersonal skills
For positions based in NYC, the base salary range is $103,000-$143,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.
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A look at our Benefits
We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection and wellbeing. We provide a variety of leaves for personal, health, family and military needs. For example, our "Giving Back" program allows you to take up to 16 hours a year to volunteer in your community. Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.
We also believe in fostering our colleagues' development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers. We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.
We are an Equal Opportunity Employer
American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories such as sexual orientation. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com. Reasonable accommodations will be determined on a case-by-case basis.
We consider qualified applicants with criminal histories, consistent with applicable law.Functional Area:
Working at
AIG
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.