Underwriter - Energy at AIG

Miami, Florida, United States

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

University degree: Engineering degree preferred
Seasoned experience in Energy underwriting or industry experience in Latin America, including Power Generation, Oil & Petrochemical, Mining in Operation, and Construction (CAR/EAR)
Strong understanding of risk selection process, exposure analysis including BI calculations, CAT perils, and analytical skills

Responsibilities

Support the Facultative Desk Energy Product Leader in day-to-day underwriting and management of the Energy & Construction portfolio written through the Miami FAC Desk
Develop business strategy, manage broker and distribution channels, handle budget and business planning, reporting, portfolio analytics, staff development and training, and ensure compliance with internal policies
Ensure required standards of governance, systems, controls, and regulatory compliance for the Energy division
Work with Claims, Finance, Operational, Accounting, Legal, and Actuarial support teams to support portfolio management
Drive a culture that promotes collaboration, diversity, and inclusion
Prepare key performance indicators, including monitoring submission flow by distribution channels and analysis of losses/claims behaviors
Support preparation of presentations to internal and external stakeholders
Maintain updated underwriting files based on corporate guidelines
Source and qualify opportunities, underwrite, manage, and service a profitable book of Assumed FAC Energy business in Latin America
Develop, manage, and execute a pipeline of new business opportunities
Manage existing and develop new producer and client relationships throughout the region
Work alongside other FAC Desk products to cross-sell company offerings
Collaborate with engineering and technical specialists to identify and understand risk exposures
Negotiate policy terms and coverages to align with company directives
Utilize underwriter authority in accordance with corporate risk appetite and strategy
Support Product Leader with development and execution of the LAC Energy underwriting strategy within global guardrails, including monitoring and quality reviews for loss ratios, underwriting results, and P&L performance
Drive underwriting excellence by establishing and ensuring adherence to risk appetite, line setting, standards, guidelines, and rating/pricing adequacy
Develop strong, long-term relationships with brokers and clients to profitably grow the portfolio
Provide superior customer service to brokers and clients

Skills

Underwriting

Facultative Underwriting

Energy Insurance

Construction Insurance

Portfolio Management

Business Strategy

Broker Management

Budget Planning

Portfolio Analytics

Regulatory Compliance

Staff Training

Risk Management

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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