Senior Pricing Actuary at AIG

London, England, United Kingdom

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Numerical degree
Qualified Actuary
Pricing experience within General Insurance
Data manipulation and technical modelling skills
Coding experience desirable
Strong analytical skills
Strong communicator
Strong organisational skills with excellent attention to detail

Responsibilities

Work across various lines of business to support Underwriters to develop more profitable portfolios
Develop pricing models
Maintain and enhance existing pricing models
Perform periodic recalibration of pricing models and tools to reflect the current year’s business plan
Perform periodic assessments of underlying portfolios
Perform regular monitoring of portfolio metrics
Perform and develop individual risk pricing in support of the underwriters
Assist in the collection and research of pricing data, and then in the development of analysis and reporting of pricing data
Provide actuarial support for business initiatives
Evolve pricing standards as per market requirements (e.g., Lloyd’s BPPF, consistency with AIG)
Incorporate feedback from internal reports on model usage/portfolio analytics to determine model updates
Support pricing modernisation initiatives including building and maintaining raters in HXDrive and embed pricing governance within the team (developing clear audit trails, setting governance priorities)
Introduce new profitability studies which define how the team approaches planning going forwards
Train the team in account pricing, using bespoke approaches, with a particular focus on communication of results to underwriters, setting the standard for how the team approaches account pricing going forwards
Establish best practice for re-platformed models

Skills

Pricing Models

Actuarial Modeling

Portfolio Analysis

Risk Pricing

Data Analysis

Underwriting Support

Lloyd's Market

Statistical Analysis

Rating Tools

Business Plan Calibration

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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