Actuary & Director - PCS at AIG

New York, New York, United States

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

Insurance, Property CasualtyIndustries

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 others
Entrepreneurial mindset to develop technical skills and business acumen
Skills to work within a team while contributing directly in select areas
Background in pricing, reserving, and reinsurance (strongly preferred)
Familiarity with personal lines & homeowners (a plus)

Responsibilities

Act as the point of contact for all filings related review work prepared by the Program Administrator’s (PA) actuarial team, including base rate filings, form filings, and model/segmentation filings
Review and opine on proposed methodology and template changes by the PA actuarial team
Lead discussions regarding state indication review, including reconciliation of differing indications with the PA actuaries
Demonstrate understanding of reinsurance and calculate cost of reinsurance for indication/filings work
Work with the PA to develop remediation strategies for products/states as needed
Build and maintain dashboards for key KPIs related to topline/production and plan loss ratio tracking
Provide recommendations and insights on topline policy and premium drivers
Analyze proposed growth and remediation strategies and estimate impact to top and bottom-line results
Work with finance to provide necessary information for quarterly close and P&L reports
Establish and maintain relationships with cross-function teams (UW, Finance, Ceded Re, IT) to ensure collection of appropriate data for informed decisions
Direct process improvements by weighing cost and benefit to reduce manual work efforts and improve efficiency and accuracy
Manage and own the filings review process for the High-Net-Worth Personal Lines Program
Participate in ad-hoc pricing projects related to strategy and remediation

Skills

Actuarial Science

Risk Management

Pricing

Reserving

Filings Review

Product Development

Analytics

Financial Planning

High-Net-Worth Insurance

Personal Lines

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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