Underwriter - Property at AIG

San Juan, Puerto Rico, Puerto Rico

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor’s Degree in Business Administration (Finance or Accounting preferred)
Demonstrated business savvy, analytical, and quantitative skills
Strong problem-solving abilities
Experience in facultative reinsurance is desirable
Experience in Property underwriting accounts for at least one year
Proficiency in MS Office Suite (especially Excel - a must)
Excellent communication skills in English and Spanish (verbal, written, and negotiation)

Responsibilities

Evaluate risks, quote, and issue Property policies 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 accounts, analyze engineering information (survey reports), valuation reports, catastrophe modeling results, and other relevant documents. Request additional information from brokers as needed
Drive underwriting excellence by establishing and ensuring adherence to risk appetite, line setting, standards, and guidelines, and ensuring rating and pricing adequacy
Collaborate with Distribution, Executive, and other line(s) of business underwriters to target desirable accounts and cross-selling opportunities
Provide superior customer service to brokers and clients
Increase policy retention on the line of businesses
Contribute to operational efficiencies

Skills

Key technologies and capabilities for this role

Property UnderwritingFacultative ReinsuranceExcelMS OfficeRisk EvaluationReinsurance NegotiationCatastrophe ModelingRisk AnalysisNegotiationEnglishSpanish

Questions & Answers

Common questions about this position

What is the salary for this Underwriter - Property position?

This information is not specified in the job description.

Is this Underwriter role remote or does it require office work?

This information is not specified in the job description.

What skills are required for the Property Underwriter role?

Required skills include demonstrated business savvy, analytical, and quantitative skills; strong problem-solving abilities; proficiency in MS Office Suite (especially Excel); and excellent communication skills in English and Spanish. Experience in Property underwriting (at least one year) and facultative reinsurance is also desirable.

What is the company culture like at AIG for this role?

AIG is reimagining its operating model and reshaping career pathways to unlock the full potential in each colleague, with underwriting teams focused on developing insurance solutions across various lines including Property.

What education is required for the Underwriter - Property position?

A Bachelor’s Degree in Business Administration is required, with Finance or Accounting preferred.

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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