Head of UW and Product for A&H, HK and Macau at AIG

Hong Kong

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Minimum 7 years of Technical underwriting experience with focus on accident and health product segment (Personal Accident/Critical Illness/Travel, Group/Individual)
Experience with working with multiple channels (Agency/Partnership/Broker/D2C)
Insurance leadership experience, including P&L responsibility
Highly analytical and meticulous with great attention to details; good problem-solving, communication and interpersonal skills
Shows initiative and good business judgment
Knowledge of market segmentation, portfolio management, acquisition and distribution
Self-motivated and capable of working independently
Proven Strategic Leadership skills in developing vision and purpose, driving for results and leading effective teams
Established strong relationships with customers, intermediaries, and regulators

Responsibilities

Oversee and manage all underwriting aspects of various Accident and Health products within local authority
Provide oversight for large projects and initiatives related to A&H
Work along with Head of A&H to execute A&H plans and strategies across local markets
Underwrite both individual and Group Personal Accident and supplemental health risks within delegated authority
Direct Accountability for the underwriting result with respect to Profitability, Business mix aligned with the Pricing assumptions and loss ratio of all risk classification
Lead the team of Production UWs, build strong relationship with the Alpha and Tier 1 brokers in driving New Business and Renewal Pipeline management for Group Business
Delegate Authority and provide Underwriting direction to all Underwriters
Ensure all wordings comply with Corporate and Underwriting guidelines
As the accountable party, work with legal and compliance on policy wordings, marketing collaterals and other regulatory and compliance issues as and when required
Maintain oversight of all Underwriters risk appraisal and pricing practices to ensure appropriate risk selection at target underwriting margins
Oversee all quotation applications including risk appraisal and pricing considerations, and adequacy of these practices
Ensure aggregation and exposure levels are appropriate for the risk, well documented and training and audit is carried out as required to maintain compliance
Liaise with regional or global teams to obtain approval on risks which exceed local authority
Liaise with Regional Underwriting Manager and Regional Actuaries on product/benefit pricing
Assist in identifying under-performing or high-risk segments and provide Underwriting recommendation and direction as required
Manage, delegate and mentor a team of Technical and Production Underwriters
Assist Regional UW manager and Head of A&H on A&H reinsurance opportunity
Lead management and oversight of Product development for all A&H products both New, Renewal/Updated Product
Maintain Underwriting leadership in terms of product construct and coverages during the product development process with a key focus on customer centricity and fairness
Local owner of policy wordings while collaborating with product development and marketing teams on brochures and other materials as required
Maintain oversight, registration and version control over all Policy Wordings and Endorsements
Ensure 100% compliance on quarterly self-audit accompanied by recommendations which could be used to identify individual or group training needs
Accountable for Validation of underwriting system inputs led by the team of underwriters
Provide necessary and periodic training and guidance to operations related to underwriting
Responsible for training underwriters along with the ownership of their future training needs for professional development

Skills

Key technologies and capabilities for this role

UnderwritingAccident and Health InsuranceProduct ManagementRisk AppraisalPricingTeam LeadershipBroker ManagementReinsuranceCompliancePolicy WordingRegulatory AffairsLoss Ratio ManagementBusiness Mix OptimizationMentoringAggregation Management

Questions & Answers

Common questions about this position

What is the employment type for this position?

This is a full-time position.

Is this role remote or does it require office presence?

This information is not specified in the job description.

What are the key skills required for the Head of UW and Product role?

Key skills include underwriting Accident and Health products, team leadership and mentoring, product development, risk appraisal and pricing, and compliance with corporate guidelines.

What does the team structure look like for this role?

The role involves leading and mentoring a team of Technical and Production Underwriters, delegating authority, and providing training and direction.

What makes a strong candidate for this position?

Strong candidates have extensive underwriting experience in Accident and Health products, proven leadership in managing underwriting teams, expertise in product development, and skills in risk management, compliance, and broker relationships.

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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