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AIG · 3 months ago

Associate Actuary - North America Property

NY-New York

Full-time

Onsite

Mid, Senior Level

$129K/yr - $154K/yr

5+ years exp

AIG is a global leader in commercial and personal insurance solutions, and they are seeking an Associate Actuary to support North America Property. The role involves streamlining processes across different Property segments and collaborating with pricing actuaries and catastrophe modelers to enhance pricing strategies and assess portfolio risk.

BankingFinancial ServicesInsurance

Responsibilities

Work closely with the Chief Underwriting Office to develop pricing and underwriting strategies and identify pockets of opportunity for profitable growth as well as profitability-challenged areas

Review the parameters in the pricing systems, actively work to improve the pricing systems, and monitor underwriter adherence to pricing procedures and methodologies

Coordinate pricing, planning, and accumulation management efforts with cat modeling team to ensure adequate risk-adjusted returns contemplating expected loss, reinsurance costs, and increased capital needs associated with cat-prone business

Develop analytical tools to help underwriters assess the risks posed by insureds, aligning the pricing framework across the different underwriting platforms and business classes written in Lexington’s property operations

Work closely with reserving actuaries to understand sources of reserve development and ensure appropriate recognition of pricing and underwriting actions impacting those estimates

Provide recommendations on rating methodologies, parameters and tools to improve accuracy of technical pricing reflecting latest market and economic conditions and product offerings

Ensure alignment of tools, reporting metrics and goals with other property teams organizationally to optimize team efficiency while maximizing value and consistency across the property portfolios

Qualification

Associate of the Casualty Actuarial SocietyCommercial property pricingCatastrophe modelingAnalytical tools developmentCommunication skillsAttention to detailAdaptability

Required

At least an Associate of the Casualty Actuarial Society (ACAS)

At least 5 years of commercial lines actuarial experience, preferably with significant commercial property pricing experience

Exceptional communication skills, including ability to develop and present clear and concise analysis and recommendations to senior management

Willing and able to continuously learn and adapt in a dynamic and fast changing environment

Solid understanding of catastrophe modeling fundamentals

Timeliness and attention to detail

Benefits

A range of competitive benefits

Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development