Reporting to: Partnerships Pricing Manager, Intermediary Pricing Manager or Group Head of Actuarial
AIG Life is a rapidly growing, fast-paced, exciting company to work for with scope to be involved in a variety of different work.
The Actuarial Analyst has the opportunity to gain experience with rotations across all Actuarial functions.
We pride ourselves on being nimble and agile and there is a strong culture of collaboration across departments.
This role sits within the Pricing function which covers both Individual and Group protection and is structured into four areas; Intermediary, Partnerships, Group and Projects. The team is led by the Chief Pricing Actuary and this role will sit within one of the four pricing areas although there will be opportunity to work across all areas of Pricing.
The Actuarial Analyst will support the Pricing Actuary in a wide range of potential exercises relating to: pricing, reinsurance, distribution, product development or other commercial actuarial work.
There are a number of areas of core work that analysts within the team are expected to complete. These are regular re-pricing exercises for existing products, pricing for partnership opportunities, producing rates for new products and analysing the results of reinsurance tenders. 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 Analyst will be assigned a mentor to oversee the development of their Work Based Skills learning logs.
Provide input into the development of market leading protection products
Use market data to carry out competitor analysis and price benchmarking
Produce suitable and accurate market premium rates to agreed deadlines
Assist in the development of pricing tactics that maximise profitability for target volumes
Assist in the development and implementation of an optimal reinsurance programme
Analyse drivers of profitability and emerging experience
Product high quality MI and reports
Run cash flow models and check and analyse results
Excellent communication skills, both written and verbal
Good numerical and analytical skills
Able to summarise large amounts of data to draw conclusions and spot trends
Working knowledge of Excel, VBA and SQL
Attention to detail
Working knowledge of Excel, VBA and SQL
Ability to work well in a team, under pressure and to tight deadlines
Technical Skills and Expertise
Graduate with a numerical degree achieving 2.1 or higher
Grade B or better in Mathematics GCSE (or equivalent qualification)
Good working knowledge of Excel and VBA desirable
0 - 3 years experience working for 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 for both Individual and Group business (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.