Full-Time

Underwriter

Accident and Health

Posted on 8/30/2024

AIG

AIG

10,001+ employees

Global insurance provider for individuals and businesses

Cybersecurity
Financial Services

Compensation Overview

$50k - $62kAnnually

+ Bonus

Entry, Junior

Philadelphia, PA, USA + 1 more

More locations: New York, NY, USA

Base salary range for Jersey City positions is $50,000 - $62,000.

Category
Insurance
Finance & Banking
Required Skills
Sales
Communications
Requirements
  • University degree or higher and / or Experience in Accident and Health business.
  • Proven Accident and Health products and technical underwriting skills.
  • Proficient in use of MS Office Applications.
  • Strong customer service ethic, with a sound understanding of the business processes.
  • Excellent communication and influencing skills – both written and oral.
  • Excellent planning and negotiation skills.
  • Self-motivated and able to set strategic direction.
  • Able to work in a team to lead and contribute so that AIG meets its strategic goals.
  • Knowledge of country regulatory and compliance requirements.
Responsibilities
  • Profitability as measured by STAT, GAAP, RAP and Loss Ratios.
  • Attained premium growth for the Specialty Segment.
  • Underwriting Accident & Health quotes (including Business Travel, Participant Accident, Participant Travel) within an assigned territory team.
  • Case underwriting of Accident & Health coverage for both renewals and new business (manual rating and experience rating).
  • Analyze, select, and price risks, and have the ability to articulate underwriting analyses and identify corrective actions, if any, to sales team and broker contacts.
  • Deliver timely and accurate quotes/binders.
  • Achieve new business premium targets, premium retention targets and loss ratio targets for assigned territory.
  • Servicing of assigned accounts and brokers, in conjunction with other Underwriting and Sales team members within assigned territory.
  • Prepare (where applicable) review and approval of case referrals.
  • Work closely with other functional areas: Claims; Actuarial; Operations; Finance; Legal and Compliance.
  • Liaise with internal stakeholders to ensure awareness of underwriting activities that require support and service.
  • Adherence to all internal and external compliance standards, including implementation of new standards.
  • Assist in achieving overall GPW goal in collaboration with Distribution. Work closely and share responsibility for overall revenue goal through new business and retention targets.
  • Quarterly self-audit process to assure 100% and timely compliance and take necessary actions on audit recommendations and findings.
  • Training to ensure compliance to underwriting authority and sales practice.
  • Strategize with other members of assigned territory team to identify target market segments and to develop broker distribution relationships.

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 cater to the diverse needs of their clients. AIG operates by underwriting insurance policies, managing risk, and investing the premiums collected to generate income. This approach allows them to serve a wide range of customers, from individual policyholders to large multinational corporations. AIG distinguishes itself from competitors by emphasizing cybersecurity and data protection, ensuring that clients' information is secure. The company's goal is to help clients manage risk, protect their assets, and achieve financial security, with a particular focus on retirement planning through its subsidiary, Corebridge Financial.

Company Stage

IPO

Total Funding

N/A

Headquarters

New York City, New York

Founded

1919

Simplify Jobs

Simplify's Take

What believers are saying

  • 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.

What critics are saying

  • 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.

What makes AIG unique

  • 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.

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Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

INACTIVE