Actuarial Associate
About The Position
The Actuarial Associate supports the Pricing function within AIG’s Lexington Excess Casualty segment. The work includes profitability analysis and deep dives, pricing reviews for large accounts, monthly business KPI reporting, support for the annual budget, and portfolio strategy. The associate partners with other actuaries to apply best practices and analytical techniques and assess the effects of loss trends and claims emergence. The role supports pricing model development, rate indications, pricing analyses and proposals, and implementation of rating changes. It also involves monitoring portfolio performance, researching market and competitor trends, producing recurring reports, and documenting pricing methodologies, assumptions, and outputs. AIG describes its actuarial teams as collaborating with functions including Finance, Claims, Operations, Marketing, and Risk Management.
Requirements
- Bachelor of Science in Actuarial Science, Mathematics, Statistics, or a related area.
- Completion of one or more actuarial exams.
- Foundational knowledge of pricing methodologies, including rate adequacy, segmentation, and trend.
- Ability to support pricing analyses using structured data under guidance.
- Familiarity with pricing data, validation, and tools.
- Basic understanding of governance and the business impact of pricing decisions.
- Ability to keep the manager and immediate team informed about progress, issues, and results.
Responsibilities
- Support development of pricing models and rate indications using actuarial and statistical techniques.
- Prepare, validate, and reconcile data used in pricing analyses.
- Assist with pricing analyses, rate proposals, and supporting documentation for business partners.
- Support implementation of rating changes in systems, including testing and validation.
- Monitor loss trends and portfolio performance metrics and flag notable changes.
- Assist with research of market trends, competitor behavior, and external factors affecting pricing.
- Produce recurring reports supporting portfolio monitoring and pricing decisions.
- Document methodologies, assumptions, and outputs used in pricing analyses.
- Contribute to profitability analysis, large-account pricing reviews, monthly business KPI reporting, annual budget support, and portfolio strategy.
Benefits
- Competitive benefits package covering health, wellbeing, financial security, and professional development.
- Position is eligible for a bonus under the applicable incentive plan.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
