Associate Actuary

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Senior 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.

What you need to know:

• 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.

What we’re looking for:

• BS in Actuarial Science, Mathematics, Statistics, or related area
• ACAS or FCAS
• 7 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
• Excellent communication, presentation, and interpersonal skills

For positions based in New Jersey, the base salary range is $83,000 - $148,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits a summary of which can be viewed here: AIG Benefits Overview

#LI-AIG #actuarial careers #actuary #actuaries

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our 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—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty…