Senior Actuary Analyst at AIG

Parsippany, New Jersey, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

BS in Actuarial Science, Mathematics, Statistics, or related area
ACAS or FCAS
7 years or more experience, pricing experience preferred
Strong analytical and problem-solving skills
Work well both independently and as part of a team
Proficiency in Excel, SQL, Python, R, or other programming languages preferred
Strong business and collaboration skills and responsive to service needs and operational demands
Effective time management skills
Excellent communication, presentation, and interpersonal skills
Customer focus

Responsibilities

Assist with monitoring portfolio performance for the Lexington Contract Bind business
Work closely with UW to implement strategic rate changes that support growth while achieving profitability goals
Present proposed rate changes to senior UWs
Work closely with IT to implement the rate changes
Be heavily involved in the planning process as well as monitoring actual results versus expectations
Develop a strong working relationship to build the trust of UW
Partner with claims staff to understand changes in claims handling & trends in the judicial environment
Support the Commercial Contract Bind Underwriting Team which writes small commercial property, liability, garage, and excess
Produce profitability studies and effectively communicate results to UW
Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of profitable growth opportunities
Work closely with programming to implement rate changes
Continue to build out monitoring reports that provide UW with an understanding of the book of business
Support finance and UW during the annual planning process
Estimate, review, and evaluate the monthly Actual versus expected at a pricing segment level
Monitor loss trends, relevant industry, and regulatory changes and effectively communicate to management impacts on business
Review underwriting actions impacting loss ratios to assess impact on current and future performance and collaborate with underwriting to identify future underwriting actions
Train junior staff

Skills

Actuarial Analysis

Insurance Pricing

Loss Reserving

Profitability Studies

Underwriting Strategies

Rate Implementation

Portfolio Monitoring

Claims Trend Analysis

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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