Senior Underwriting Specialist, Private Non-Profit, Financial Lines at AIG

Minneapolis, Minnesota, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Minimum 7-9 years of Financial Lines Underwriting, Agency or Brokerage experience
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
Leadership skills: Strategic orientation, managing vision and purpose, developing organizational capability, results orientation
Strong influencing and communications skills
Ability to work across multiple areas of company and industries
Ability to exercise good judgment, professionalism and diplomacy in decision making in individual and group interactions
Strong initiative and drive – entrepreneurial spirit
Excellent talent assessment and development skills
Strong ability to identify exposures and analysis required to underwrite an account

Responsibilities

Handle accounts/clients greater in scope and complexity than those handled by a Senior UW or Underwriter
Provide technical direction to management, less senior underwriting staff, producers, and claims adjusting personnel
Underwrite within Financial Lines product lines and handle underwriting referrals within stated authority limits
Accept, decline, or modify new and renewal submissions submitted by brokers
Identify exposures and analysis required to underwrite an account, coverage policies, and determine exposures to loss assumed and restricted by insuring agreements and exclusions
Manage a book of business and participate in the formulation of the budget relative to regional budget/goals
Establish new business production goals and submission flow relative to the book of business
Collaborate with Distribution, Territory Managers, and other lines of business underwriters to target desirable accounts and cross-selling opportunities from brokers, while soliciting customer/producer input for improving service
Develop and implement pricing and negotiation strategy, terms & conditions, and deal structures with brokers and clients while maintaining the quality of the risk and FL strategy
Review, evaluate, and recommend modifications to underwriting guidelines
Participate in special underwriting projects as needed
Develop strong, long-term relationships with brokers and clients to profitably grow a book of business
Provide superior customer service to brokers and clients
Draft manuscript endorsements particular to an underwriting exposure(s) for approval by legal
Assign and manage the work of a team of underwriters while providing guidance
Drive a culture that promotes collaboration, innovation, diversity and inclusion; conduct talent acquisition, employee engagement, and performance monitoring/evaluation; lead through example
Increased involvement in the development of new business and industry networking, including conference attendance and business proposals

Skills

Underwriting

Financial Lines

Risk Analysis

Insurance Policies

Book of Business Management

Broker Submissions

Exposure Analysis

New Business Development

Industry Networking

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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