Underwriter, Financial Lines at AIG

Singapore

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Possess MAS recognized insurance qualification
Proven experience in Financial Lines underwriting (experience in underwriting Cyber is a plus)
Financial Lines Underwriting, risk management or broking background essential
Risk assessment including new business reinsurance negotiations and developing renewal retention strategies
Possess strong interpersonal and problem solving skills
Confident
Strong English written and verbal communication skills
Excellent systems and PC skills

Responsibilities

Underwrite Commercial Directors and Officers Liability, Commercial and Construction Professional Indemnity, Commercial Crime, Financial Institutions aspects of the Profit Center’s business
Support growth and profitability objectives as outlined by the Profit Centre
Contribute to planning – Assist in identifying growth opportunities, new business segments, new product opportunities to support growth objectives
Adhere to all underwriting procedures and compliance protocols as required
Assist with account targeting strategy and product development initiatives
Maintain strong working relationships with assigned brokers
Conducts relevant product/process training as required by the Underwriting Manager
Ad-hoc special projects or requirements that may arise from time to time
Assist with the maintenance/development of solid working relationships with all clients, brokers, reinsurers and other stakeholders and managing broker visitation schedule for staff in consultation with Profit Centre Manager
Help to identify business opportunities for other profit centres to support the company’s cross marketing strategy
Liaise with administration staff, legal, claims, finance and accounting and any other services centre to ensure awareness of underwriting and business activities support standards required
Help identify opportunities and strategies in support of growth in Corporate and Major Account segments and develop appropriate distribution solutions in country environment
Assist with multinational development plans so that AIG gains the maximum share of available profitable income from key/potential producers
Lead the launch of new policy wordings, endorsements and/or Broker Specific programs
Ensure delivery of reports and compliance tasks in timely fashion to key internal stakeholders as and when required
Keep Underwriting Manager aware of all major underwriting issues

Skills

Underwriting

D&O Liability

Professional Indemnity

Commercial Crime

Financial Institutions

Risk Management

Broker Relations

Compliance

Product Development

Account Targeting

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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