Senior Underwriting Specialist, Retail Property at AIG

Chicago, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Property InsuranceIndustries

Requirements

Minimum 7-9 years of Commercial Insurance Company, Agency or Brokerage experience
Bachelor’s degree from a four-year college or university
Proven ability to build and maintain strong professional relationships
Advanced working knowledge of lines of business Retail Property products including product features, forms, regulatory environments, and risks, etc
Demonstrated sales, marketing, and relationship building experience
Very strong verbal and written communication skills
Highly motivated and results-oriented
Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions
Willingness to be flexible, learn on the job, and maintain a can-do attitude
Comfort with analytical tools and technology

Responsibilities

Provides technical direction to management, less senior specialists and underwriters, producers, and claims adjusting personnel
Accepts, declines, or modifies new and renewal submissions submitted by brokers
Identifies exposures and analysis required to underwrite an account, as well as the coverage policies, and determines the exposures to loss assumed and restricted by the insuring agreements and the exclusions
Manages a book of business and may participate in the formulation of the budget relative to regional budget/goals
Establishes new business production goals and submission flow relative to the book of business
Collaborate with Distribution, Territory Managers, and other line(s) of business underwriters to target desirable accounts and cross selling opportunities from brokers while soliciting customer/producer input for improving and enhancing service
Develops and implements pricing and negotiation strategy, terms & conditions, and deal structures with brokers and clients while maintaining the quality of the risk and Retail Property strategy
May 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
May draft manuscript endorsements that are particular to an underwriting exposure(s) for approval by legal
May be responsible for assigning and managing the work of a team of underwriters while providing guidance
Execute the geographic underwriting strategy for Retail Property

Skills

Property Underwriting

Risk Analysis

Pricing Strategy

Negotiation

Broker Management

Book of Business Management

Exposure Analysis

Coverage Policies

Technical Underwriting

Cross Selling

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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