Senior Actuarial Analyst at AIG

Singapore

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Strong actuarial experience, preferably in pricing and portfolio management of personal lines business including Accident & Health, Auto and Home insurance
Working experience in the insurance industry
Proven proficiency in actuarial concepts and methodologies with strong analytical and problem-solving skills and thorough understanding of general insurance including underwriting policies, claims handling policies and local legislation
Possess strong GLM technical modelling skills using software such as Radar or Emblem, and data management using SQL, Tableau or Power BI
Ability and willingness to pick up coding, programming languages and database skills
Ability to manage tight deadlines, priorities and handle multiple tasks simultaneously
Excellent communication both written and verbal, presentation, and interpersonal skills
Highly motivated, strong attention to details, willingness to learn and adapt in a dynamic and fast changing environment

Responsibilities

Deliver actuarially sound pricing analysis for new business opportunities, rate reviews, rate change recommendation and impact analysis of the existing business in a timely manner
Develop, maintain and ensure raters are up to date with latest assumptions, and continuously improve the functionalities that would increase efficiency and turnaround time for underwriters
Maintain robust portfolio management and monitoring of rate levels, rate changes and rate adequacy
Proactively engage with the underwriters and business team sharing and discussing insights and findings from the analysis, with recommendations on rate or underwriting actions to improve profitability
Collaborate with local and regional Product, Claims, Finance, Underwriting, IT and Data Analytics functions to ensure data used for pricing and monitoring is complete, accurate, adequate and timely
Carry out loss ratio and lapse analysis for business sold through direct marketing to determine appropriate assumptions used for campaign approval and monitoring
Support profit studies and development of budget loss ratios for assigned countries and segments
Peer review and collaborate with reserving actuary in annual detailed valuation review
Comply with key regulatory and risk management procedures, as well as audit requirements

Skills

Actuarial Pricing

Rate Analysis

Portfolio Management

Rate Adequacy

Pricing Models

Impact Analysis

Ratemaking

Assumptions Management

Underwriting Collaboration

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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