Underwriting Specialist, Retail Property at AIG

Chicago, Illinois, 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

Insurance, Property InsuranceIndustries

Requirements

Minimum 5 years of Commercial Insurance Company, Agency or Brokerage experience
Bachelor’s degree from a four-year college or university
Proven ability to build and maintain strong professional relationships
Advanced working knowledge of the Retail Property lines of business including product features, forms, regulatory environments, and risks etc
Demonstrated sales, marketing, and relationship building experience
Very strong verbal and written communication skills
Highly motivated and results-oriented
Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions
Willingness to be flexible, learn on the job, and maintain a can-do attitude
Expert with underwriting analytical tools and technology

Responsibilities

Underwrite Retail Property products
Develops and manages underwriting strategies for both renewals and prospects within his/her portfolio of accounts, including knowledge of current market penetration and development of specific plans to increase portfolio share
Develops and implements negotiation strategies
Makes independent sales calls to market and cross-market products
Identifies target markets, designs and implements strategies for lead development and builds prospect lists
Provides technical direction to management, less senior specialists, underwriters, producers, and claims adjusting personnel
Communicate risk appetite and Retail Property Value Proposition to brokers
Collaborate with Distribution, Territory Managers, and other line(s) of business underwriters to target desirable accounts and cross selling opportunities from brokers
Rapidly evaluate, prioritize, and select submissions to be underwritten
Recognize and create cross sell opportunities for other Commercial products
Work with broker to understand the deal structure, terms, and AIG Services that best meets clients’ needs
May review, evaluate and make recommendations to underwriting guidelines
May direct or conduct internal underwriting audits
Negotiate pricing, terms & conditions, and deal structure with brokers and clients
Participate in special underwriting projects as needed
Develop strong, long term relationships with brokers and clients to profitably grow a book of business
Identify cross selling opportunities
Provide superior customer service to brokers and clients

Skills

Underwriting

Retail Property

Risk Assessment

Negotiation

Broker Management

Portfolio Management

Sales Strategy

Cross-Selling

Market Penetration

Lead Development

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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