Junior Underwriter Financial Lines at AIG

Madrid, Community of Madrid, Spain

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Industry related work experience and summer internship (a plus)
Some experience in Financial Lines insurance department (a plus)
Law, Economics, Business Administration or Risk Management degree (preferred)
Fluent English skills (written & spoken)
Outgoing and entrepreneurial personality
Good communication and interpersonal skills
Cross Functional Collaboration and Teamwork
Client Focus and Solution Orientation: Problem Solving
Challenging with humility

Responsibilities

Underwrite new and renewal business to drive profitable growth of Financial Lines department
Assess desirability of risk through regular contact with brokers, coordination with AIG subject matter experts, and reviews of claims history and company information
Partner with underwriters for end-to-end processing of new and renewal business
Work closely with Sr. underwriters to develop and deliver tailored solutions
Work with allocated underwriters to set-up, update and bind all underwriting systems and support platforms
Build and maintain relationships with brokers, providing excellent service through consistent, timely, and proactive underwriting approach
Generate new business by expanding broker network, attending broker events, and building new relationships in line with sales plan
Perform data analytics, referral documentation preparation and completion, form checklist, and working approval
Support with AIG tools for first information research on renewal accounts (e.g., claims track record, expiry conditions)
Support with product or endorsement amendments requested by the regional product team

Skills

Key technologies and capabilities for this role

UnderwritingFinancial Lines InsuranceRisk AssessmentBroker ManagementClaims AnalysisData AnalyticsUnderwriting SystemsReferral DocumentationProduct Amendments

Questions & Answers

Common questions about this position

What qualifications are required for the Junior Underwriter Financial Lines role?

A degree in Law, Economics, Business Administration or Risk Management is preferred, along with fluent English skills (written and spoken). Industry related work experience and summer internship are a plus, as is some experience in Financial Lines insurance.

What skills and personality traits are they looking for in candidates?

They seek an outgoing and entrepreneurial personality with good communication and interpersonal skills, plus abilities in cross-functional collaboration, teamwork, client focus, solution orientation, problem solving, and challenging with humility.

Is the salary specified for this position?

This information is not specified in the job description.

What is the work arrangement or location for this role?

This information is not specified in the job description.

What makes a strong candidate for this Junior Underwriter role?

Strong candidates will have a relevant degree, some insurance experience, fluent English, an outgoing entrepreneurial personality, excellent communication skills, and a client-focused approach with problem-solving abilities.

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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