Underwriter - Property at AIG

San Juan, Puerto Rico, Puerto Rico

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor’s Degree in Business Administration (Finance or Accounting preferred)
Experience in underwriting accounts
Demonstrated business savvy, analytical and quantitative skills with strong problem-solving abilities
Experience in facultative reinsurance is desirable
Proficient in the use of MS Office suite products, especially Excel (a must) and Word
Excellent communication skills in English and Spanish including verbal, written and negotiation
A proven track record of excellent customer service skills and interpersonal skills
Fast learner with decision-making criteria
Excellent organizational and prioritization skills
A good level of experience in writing reports and business correspondence

Responsibilities

Evaluate risks, quote and issue Property policies in order to increase production on a profitable business
Analyze, prepare, define structure, place and negotiate facultative reinsurance either directly or through reinsurance brokers, adhering to reinsurance and underwriting policies and procedures
Negotiate externally and internally the underwriting of the accounts and analyze engineering information (survey reports), valuation reports, catastrophe modelling results and other documents of underwriting. Request additional information to the insurance brokers to analyze the risk, if it was deemed relevant
Drive underwriting excellence across the business determining acceptability of the risk by establishing and ensuring adherence to risk appetite, line setting, standards and guidelines, and ensure rating and pricing adequacy
Collaborate with Distribution, Executive, and other line(s) of business underwriters to target desirable accounts and cross selling opportunities from brokers and ceding companies
Provide superior customer service to brokers and clients
Increase policy retention on the line of businesses
Contribute to operational efficiencies
Any other related tasks required by AIG

Skills

Property Underwriting

Risk Assessment

Reinsurance Negotiation

Facultative Reinsurance

Catastrophe Modelling

Engineering Analysis

Survey Reports

Valuation Reports

Risk Appetite

Underwriting Guidelines

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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