Actuary & AVP - Lexington Property Pricing at AIG

Philadelphia, Pennsylvania, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Strong technical and business expertise
Ability to build sustainable, collaborative relationships
Ability to influence business stakeholders
Ability to lead, motivate, and gain commitment from team members
Industry expertise in actuarial field, particularly property pricing

Responsibilities

Lead the Lexington Property pricing team, including staff development and project prioritization
Partner with business and support teams on strategy, risk selection, pricing, and portfolio construction
Partner with other pricing actuaries to implement best practices analytical techniques
Collaborate with catastrophe modelers to incorporate results into pricing and quantify portfolio risk
Partner with reserving actuaries to assess impact of loss trends and claims emergence
Be accountable for Lexington Property results and develop/execute strategic actions based on actuarial analysis focusing on profitability and organizational goals
Work closely with underwriting to develop pricing and underwriting strategies, identify opportunities for profitable growth, and profitability-challenged areas
Supervise review of parameters in pricing systems, manage projects to improve pricing systems, and monitor underwriter adherence to pricing procedures
Coordinate pricing, planning, and accumulation management with cat modeling team to ensure adequate risk-adjusted returns
Develop analytical tools to help underwriters assess risks, aligning pricing framework across underwriting platforms and business classes
Work with reserving actuaries to understand reserve development and ensure underwriters consider relevant trends
Provide recommendations on rating methodologies, parameters, and tools to improve technical pricing accuracy
Work with global property actuarial leads to align tools, reporting metrics, and goals for efficiency and consistency
Participate in and lead components of actuarial data/tools transformation initiatives in a cloud-based environment
Organize training and support for pricing tools and strategies for underwriters
Monitor trends, industry dynamics, and catastrophe model enhancements; communicate impacts to underwriters and management
Ensure all pricing and actuarial requests are managed timely and professionally, with adherence to procedures

Skills

Actuarial Pricing

Property Pricing

Catastrophe Modeling

Reserving

Risk Selection

Portfolio Construction

Underwriting Strategies

Pricing Systems

Profitability Analysis

Staff Development

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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