AIG Life is a rapidly growing, fast-paced, exciting company to work for with scope to be involved in a variety of different work. We pride ourselves on being nimble and agile and there is a strong culture of collaboration across departments
The Pricing function at AIG Life covers Intermediary Pricing, Partnership Pricing and Group Pricing. The roles within the team are specific to one of those broad functions and the team is led by the Chief Pricing Actuary.
This role fits within the Intermediary Pricing team. This team helps drive and deliver the Intermediary business unit's commercial agenda through pricing and proposition support.
The Senior Actuarial Analyst will support the Pricing Manager (Intermediary) in a wide range of potential exercises relating to: pricing strategy and execution, distribution management, portfolio management, product development or other commercial actuarial work.
There are a number of areas of core work that Senior Analysts within the team are expected to complete. These are regular re-pricing exercises for existing products, producing rates for new products, portfolio monitoring and analysing business intelligence data. Senior Analysts will be expected to own these processes, continually looking for ways to optimise and improve efficiency.
Study support toward the Actuarial exams will be provided with this role and the Senior Analyst will be assigned a mentor to oversee the development of their Work Based Skills learning logs.
To produce suitable and accurate market premium rates to agreed deadlines.
To provide input into the development and execution of the portfolio's pricing strategy of AIG Life's leading protection products that maximise profitability for target volumes.
To assist in the derivation of commercial terms for particular distribution opportunities.
To monitor the market to pro-actively develop new pricing strategies
To analyse drivers of profitability and emerging experience.
Expert communication skills, both written and verbal
Expert knowledge and commercial acumen of the UK life and health protection market
Ability to mentor junior team members and work well in a team, under pressure and to tight deadlines
Technical Skills and Expertise
Part qualified actuary (All CTs, CA1, CA2 and CA3 ideally)
2.1 degree or higher with B grade or better in Mathematics GCSE (or equivalent qualification)
Minimum 3 years' experience of working in a direct life office or reinsurer
Knowledge and understanding of various profit measures used for pricing and reporting and the principle cash-flows for Protection business
Knowledge of the UK Protection market (competitors, distribution, products)
Knowledge of Protection new business processes, including underwriting and claims, competitive pricing knowledge, experience analyses and basis setting methodology
Knowledge of reinsurance in the UK Protection market (reinsurance structures, pricing approaches, profit measures)
The role is based in London
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
Be unique. Be authentic. However you prefer to say it, we really mean it. Our culture
embraces people’s diverse perspectives and creates a positive environment where everyone
belongs. We’re determined to build a better, more connected world for everyone.