SME & Flow Pricing Actuary EMEA at AIG

Madrid, Community of Madrid, Spain

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, ActuarialIndustries

Requirements

Experienced and motivated actuarial professional
Ability to work closely with Underwriting, Product, IT, Claims, and Distribution teams
Expertise in pricing, profitability studies, portfolio management, product design, and data management
Skills in actuarial analysis, including price adequacy reviews, reinsurance program appropriateness, and reserve reviews for local stat and US GAAP
Experience with rating and portfolio management tools, technical pricing models, and model calibration
Ability to manage a team of 1-2 actuaries
Knowledge of risk management frameworks, group underwriting standards, regulatory procedures, and AIG guidelines (e.g., profitability analysis, pricing models, rate monitoring)
Capability to review assumptions/inputs for capital requirements, business planning, and reinsurance analysis

Responsibilities

Support pricing, planning, and results monitoring of the SME & Flow book of business, collaborating with underwriting heads, regional actuaries, and group functions
Provide thought leadership on profitability to guide senior leadership decisions on growth, rate actions, remediation, and product changes
Support development, alignment, and execution of portfolio strategies with regional product line leaders and underwriting
Introduce business-focused changes/improvements for profitability and growth, including implementation, monitoring, and annual planning
Conduct price adequacy reviews, assess reinsurance programs, and provide expertise on complex projects
Analyze SME & Flow portfolios to refine understanding of current and future exposures
Support development, calibration, and implementation of rating and portfolio management tools
Develop new SME & Flow products, technical pricing models, and localize core products in new territories; enhance pricing and modeling capabilities
Act as subject matter expert and peer reviewer for reserve reviews
Provide constructive peer review, challenge actuarial work/processes, and identify improvements
Review assumptions/inputs for capital requirements, projections, business planning, reinsurance analysis, and risk monitoring
Collaborate with regional actuarial functions and assist underwriting heads in annual business plan reviews/recommendations
Deliver regular analysis, recommendations, and underwriting performance studies on financial stability and risk profile
Oversee adherence to risk management framework, group standards, regulatory procedures, and AIG guidelines

Skills

Actuarial Pricing

Profitability Analysis

Portfolio Management

Product Design

Data Management

Reinsurance

Risk Management

Underwriting Support

GLM Modeling

Experience 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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