Policy Wording Specialist at AIG

New York, New York, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Written and Oral Communication – 3+ years of policy language analysis and drafting experience, preferably in Property, or alternatively, two years of drafting experience and three years of Property underwriting experience; ability to break down difficult concepts in order to provide clear and succinct explanations to underwriters and other stakeholders
Knowledge – Experience with US Property markets and policy forms; experience and knowledge of both admitted and surplus lines markets a plus
Flexibility – Proficiency in both working independently and collaborating with others in a team environment across multiple disciplines
Prioritizing and Time Management – Able to manage time effectively, capable of prioritizing projects and responding promptly in an appropriate manner
Client Service – Ability to anticipate client (internal and external) needs and act proactively
Problem Solving – Identify problems and deliver appropriate solutions
Attention to Detail – Demonstrate attention to detail, and maintain accurate documentation
Learning Agility – Willingness to continually learn from experiences and new situations
Forms Management – Experience in building out and maintaining forms libraries a plus
Microsoft Office – Proficiency in Word, Teams and PowerPoint required, familiarity with Excel preferred
Education – Degree from a four-year college or university

Responsibilities

Drive coverage certainty by establishing policy wording guidelines and counseling underwriters on best practices
Provide counseling and technical guidance to underwriters on policy language
Review competitor forms and make recommendations to the Global Property Wording Manager on acceptability of those forms and required endorsements
Draft manuscript endorsements to AIG’s standard policy forms, and create bespoke endorsements for third party policy forms to address client-specific exposures and align with underwriting intent
Work with Underwriting, Claims and Legal in drafting new policy forms and endorsements
Support the Global Property Wording Manager in maintaining and updating manuscript policy checklists to ensure that policy reviews match AIG’s underwriting intent
Develop training to help underwriters better understand the importance of policy wording
Contribute to Underwriting Bulletins and other communications to provide underwriters with direction and insight on policy wording and usage
Support the development and implementation of the Global Policy Forms Library and Digital Workflow

Skills

Key technologies and capabilities for this role

policy wordingpolicy language analysispolicy draftingProperty insurancemanuscript endorsementsUS Property marketsadmitted marketssurplus lines marketsunderwriting supportWritten CommunicationOral Communication

Questions & Answers

Common questions about this position

What is the salary range for this position?

For positions based in New York, the base salary range is $105,000-$148,000. For positions based in New Jersey, the base salary range is $99,000-$143,000.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What skills and experience are required for the Policy Wording Specialist role?

Candidates need 3+ years of policy language analysis and drafting experience, preferably in Property, or two years of drafting and three years of Property underwriting; experience with US Property markets; proficiency in Microsoft Word, Teams, and PowerPoint; and a degree from a four-year college or university.

What is the company culture like at AIG for this role?

The role offers an opportunity to grow skills and experience as a valued team member, working with industry top talent in a collaborative environment across underwriting, claims, and legal.

What makes a strong candidate for this Policy Wording Specialist position?

Strong candidates will have 3+ years of policy language analysis and drafting experience in Property, knowledge of US Property markets including admitted and surplus lines, proficiency in independent work and team collaboration, plus skills in problem-solving, attention to detail, and client service.

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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