x) at AIG

Frankfurt, Hessen, Germany

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Extensive experience underwriting profitable business in the Construction segment of large corporate international insurance
Recognized relationships with clients and brokers at peer group level and well established within the market
Specialized understanding of regional/local Construction insurance markets and competitor landscape
Capable of leveraging data and analytics to make business more efficient and effective
Good understanding of the legal and regulatory environment
Ability to design, develop and implement consistent, robust wordings for contracts
Excellent negotiation skills, ability to build, maintain and expand relationships with key broker partners and clients
Excellent organizational and interpersonal skills
Results-oriented

Responsibilities

Actively source and underwrite new business to meet profitability targets
Develop, grow, manage and maintain a profitable book of Construction accounts
Underwrite in line with the Construction governance framework (e.g., Underwriting Authorities, Underwriting Guidelines and Functional Rules)
Oversee a globally consistent data set of submissions and the historical loss results of that portfolio
Drive involvement of functional areas in Underwriting process, including Market Management, Risk Consulting, Claims and Operations
Manage referrals and undertake 4-eye reviews with underwriters
Contribute to the development and execution of regional underwriting strategy
Create and maintain positive relationships with key producers and clients and other relevant stakeholders
Ensure accurate policy documentation is issued to producers
Provide training and support to junior members of the Construction team
Manage assigned underwriting assistants where required

Skills

Key technologies and capabilities for this role

Construction UnderwritingInsurance UnderwritingPortfolio ManagementRisk ConsultingClaims ManagementBroker RelationshipsUnderwriting StrategyPolicy DocumentationMarket ManagementTeam Training

Questions & Answers

Common questions about this position

Is this a remote position or does it require office work?

The role requires team members to be primarily in the office to support in-person collaboration, which is a vital part of AIG's culture.

What experience is required for this Underwriter role?

Candidates need extensive experience underwriting profitable business in the Construction segment of large corporate international insurance, along with recognized relationships with clients and brokers.

What key skills are needed to succeed in this position?

Essential skills include excellent negotiation skills, ability to build relationships with brokers and clients, excellent organizational and interpersonal skills, and being results-oriented.

What is the company culture like at AIG?

AIG values in-person collaboration as a vital part of its culture to foster effective teamwork and a supportive, connected environment.

What makes a strong candidate for this Underwriter Construction role?

A strong candidate has extensive Construction underwriting experience, established market relationships, specialized knowledge of local markets, and skills in data analytics, negotiation, and relationship building.

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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