Senior Underwriter, Financial Lines at AIG

Hamilton, Waikato, New Zealand

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Minimum 3+ years of relevant professional experience (Commercial Insurance Company, Agency or Brokerage experience preferred)
Bachelor’s degree from a four-year college or university
Advanced knowledge of the US Financial Lines business (D&O, EPL, PTL, Cyber, Fidelity) including product features, forms, regulatory environment and risks
Strong ability to identify, analyze and solve problems as well as the ability to learn rapidly, adapt quickly to change and exercise influence
Ability to exercise judgment, negotiate and make sound business decisions effectively based on level of authority
Demonstrated sales, marketing, and relationship building experience
Very strong verbal and written communication skills
Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions
Comfort with analytical tools and technology

Responsibilities

Rapidly evaluating, prioritizing and selecting submissions to be underwritten
Demonstrating technical underwriting skills through strategic, thorough account reviews and file documentation
Exercising judgment, negotiating and making sound business decisions effectively based on level of authority
Rendering alternative outcomes for more difficult situations and making real-time decisions in a fast paced environment characterized by ambiguity and change
Using all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed
Understanding fundamentals of loss trends, loss triangles, and ratemaking
Assisting management with the implementation of profit center strategic initiatives and providing technical underwriting and marketing support on other projects
Assisting regional manager and product leaders in further developing existing broker relations as well as establishing new relationships to attract business opportunities
Collaborating with Distribution, Territory Managers, and other line(s) of business underwriters to target desirable accounts and cross selling opportunities
Working with management, brokers, clients, and outside counsel on deal structure, contract terms and conditions on a portfolio of more complex risks
Participating in various underwriting and marketing initiatives to improve company results and drive portfolio strategies
Developing strong, long term relationships with brokers and clients to profitably grow a book of business
Representing AIG at client and broker functions with supervision as necessary/appropriate
Contributing to the mentoring, training and development of less experienced staff
Participating in special underwriting projects as needed
Providing superior customer service to brokers and clients (internal & external)

Skills

Underwriting

Financial Lines

Risk Assessment

Account Review

Negotiation

Loss Trends

Loss Triangles

Ratemaking

Broker Relations

Strategic Initiatives

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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