Financial Lines Pricing Actuary at AIG

London, England, United Kingdom

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Credentialed member of a recognized actuarial society (preferred)
At least six years of relevant actuarial experience
Proven proficiency in actuarial pricing concepts/methodologies
Strong analytical and problem-solving skills
Strong business, collaboration, and time management skills
Excellent communication, presentation, and interpersonal skills
Ability to work well both independently and as part of a team
Expertise in Excel
Knowledge/experience working in Python, R or other programming languages (preferred)
Experience in using cloud platforms (such as AWS) (preferable)
Some management experience (preferred)

Responsibilities

Provide the Financial Lines Profit Centres with the actuarial support they require to profitably grow their business and take remedial action where needed
Support the development, alignment, and execution of portfolio strategies
Actively involved in technical pricing tool development and enhancements, whilst considering local market requirements
In co-ordination with the actuarial pricing team, monitor rates at renewal and new business, ensure technical pricing models are in place and reviewed regularly and that any deviation is justified and monitored
Produce pricing analysis for large accounts and schemes within agreed timescales, working closely with underwriters
Report performance at granular level (account and rating factor) so that underwriters can optimise performance
Work closely with underwriting management to identify profitable new business and growth opportunities
Ensure data used for pricing and monitoring is complete, accurate, adequate and timely
Take ownership of projects and manage junior resources
Comply with key regulatory and risk management procedures

Skills

Actuarial Pricing

Portfolio Management

Pricing Models

Technical Pricing Tools

Renewal Monitoring

Performance Reporting

Risk Quantification

Underwriting Collaboration

Cyber Insurance

D&O Insurance

Professional Indemnity

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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