Head of Underwriting Management at AIG

London, England, United Kingdom

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

Insurance, Lloyd’s MarketIndustries

Requirements

Deep understanding of underwriting and underwriting operations
Wide experience in all matters relating to underwriting in terms of process, procedure, compliance and legal (advantageous)
Knowledge of Lloyd’s operational processes and systems
Experience in dealing with the various pressures and issues that arise for Overseas Offices – especially in connection with binders and the binder arrangements used for these offices
Good grounding in and understanding of Wordings
Good understanding of the distribution chains available to the syndicate, with specific emphasis on understanding the dynamics around Lloyd’s brokers and the landscape that applies
No specific qualifications required, although ACII is useful
Able to multi-task
Excellent communication skills
Ability to stay calm in pressured situations
Ability to negotiate and to align different and potentially conflicting work streams
Ability to influence

Responsibilities

Keep all underwriting processes under review ensuring that they are appropriate, make recommendations for change working with relevant stakeholders to achieve improvements, and report on progress as necessary
Support the Active Underwriter to ensure that brokers’ services are evaluated rigorously and reported on
Oversee and manage the syndicate’s relationship with its external reviewers, ensuring any agreed processes are adhered to by all relevant parties, including that agreed feedback is assimilated by underwriters
Keep TUL’s compliance with Lloyd’s Minimum Underwriting Standards under review, ensure controls are in place to facilitate compliance, and monitor and report to demonstrate evidence of compliance; resolve and/or escalate sub-optimal performance as appropriate, including maintaining the syndicate’s analysis document showing compliance, identifying gaps, and escalating as necessary
Work with Talbot overseas offices to ensure each office has controls in place to comply with applicable Lloyd’s minimum standards and responsibilities as a Lloyd’s coverholder; surface material issues to the office head and/or Chief Underwriting Officer, and monitor resolution
Assist overseas offices in understanding the terms of the binding authority, provide guidance to comply with it, and ensure the process is streamlined and consistent
Manage the delegated underwriting management function ensuring all underwriting disciplines and controls necessary for binding authorities are adhered to; escalate issues as necessary
Where appropriate, support underwriters in complying with the Conduct Risk requirements of binding authorities
Participate in the administrative sign off process of binding authorities, and raise material issues involving underwriters with the relevant Head of Division and/or escalate to the Active Underwriter/CUO for resolution
Receive reporting in respect of High Product Risk business, ensuring it is timely and acted upon

Skills

Underwriting Operations

Lloyd’s Minimum Underwriting Standards

Compliance Monitoring

Stakeholder Management

Process Improvement

Broker Evaluation

Risk Management

Syndicate Management

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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