Associate Actuary

AIG Insurance•Parsippany, NJ

7d•$115,000 - $154,000•Onsite

About The Position

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Associate Actuary Analyst to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team. Get to know the business Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk. About the role We are seeking an actuarial professional with industry expertise to assist with monitoring portfolio performance for the Lexington Contract Bind business. The Actuary will be responsible for working closely with UW to implement strategic rate changes that support growth while achieving profitability goals. They will present proposed rate changes to senior UWs and then work closely with IT to implement the rate changes. They will be heavily involved in the planning process as well as monitoring actual results versus expectations. It will be vital to develop a strong working relationship to build the trust of UW. They will also partner with claims staff to understand changes in claims handling & trends in the judicial environment.

Requirements

BS in Actuarial Science, Mathematics, Statistics, or related area
Requires ACAS or FCAS
Requires 5+ years or more experience, pricing experience preferred
Strong analytical and problem-solving skills
Work well both independently and as part of a team
Proficiency in Excel, SQL, Python, R, or other programming languages preferred
Strong business and collaboration skills and responsive to service needs and operational demands
Effective time management skills
Excellent communication, presentation, and interpersonal skills
Customer focus

Responsibilities

Support the Commercial Contact Bind Underwriting Team which writes small commercial property, liability, garage, and excess.
Produce profitability studies and effectively communicate results to UW.
Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of profitable growth opportunities.
Work closely with programming to implement rate changes.
Continue to build out monitoring reports that provide UW with an understanding of the book of business.
Support finance and UW during the annual planning process.
Estimate, review, and evaluate the monthly Actual versus expected at a pricing segment level.
Monitor loss trends, relevant industry, and regulatory changes and effectively communicate to management impacts on business.
Review underwriting actions impacting loss ratios to assess impact on current and future performance and collaborate with underwriting to identify future underwriting actions.
Train junior staff.