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Job description

Functional Area:
UW - Underwriting

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

AESA (UK Branch) & AIG UK Ltd

AIGs underwriters develop insurance solutions that address the exposures of companies and individuals, and embody AIGs tradition of innovation, bringing to market groundbreaking insurance solutions for our changing world. AIGs underwriters help to find insurance solutions for risks from a range of areas including life insurance, aviation, financial lines, casualty, environmental, catastrophic events, high net worth individuals, and boardroom liabilities.

As an influencer at AIG, people come to you as a "go-to" source for help and support because of your deep knowledge and expertise. As a more experienced team member, you are capable of driving continual improvement and impacting the way that things get done. Because of your influence, whether direct or indirect, we are able to deliver powerful outcomes for our clients.

Purpose of the role:
  • Focus on underwriting a profitable book of business based on AIG business strategy and appetite.
  • Build relationships with internal and external stakeholders to source high quality submissions, determine AIG appetite and prioritise submissions.
  • Use pricing tools and judgement to produce technical target premium, coverage terms/conditions and deal structure.
  • Quote and negotiate with brokers within your UW authority, for new...

Before you apply, we encourage you to learn more about AIG

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.

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  • Quote and negotiate with brokers within your UW authority, for new business, renewals and material MTAs.
  • Assist in shaping and developing AIG underwriting policies, practices and procedures.
  • Identify industry developments and make judgements on new and emerging opportunities
  • Acquire new business
  • Improve customer experience by ensuring that appropriate business processes are followed and agreed internal/external SLAs are met.

Accountabilities for the role:

  • Adhere to Underwriting Authority, Business Rules and Guidelines at all time
  • Comply with regulatory, risk management, compliance and audit requirements

Sourcing Quality Business
  • Communicate AIG Risk Appetite and Value Proposition to partner brokers/clients.
  • Promote identified œgrowth industries/segments, manage expectations relating to exit industries/segments.
  • Collaborate with AIG colleagues or brokers to create a pipeline of target accounts (mono and multi-line).
  • Evaluate and prioritise received submissions, select those to proceed for full Technical pricing.

Risk Assessment
  • Apply underwriting judgment to pricing model results to generate a target price. Suggest coverage terms/conditions and structure options for quoting, negotiating on new business and renewals.
  • Ensure technical price, deal structure and suggested coverage terms/conditions adhere to Underwriting Guidelines.
  • Ensure completeness and accuracy of rating tools to facilitate hand off data to Actuarial teams.
  • Ensure full and timely completion of underwriting files
  • Actively seek out ways to build your Industry expertise & benchmark pricing. Learn more about risk evaluation through formal and informal opportunities.

Sales and Negotiation
  • Work with brokers/clients to understand the requirement for optimal deal structure, term, and AIG Services that best meets clients needs.
  • Obtain additional UW information from brokers/clients as may be required on each new or renewal submission.
  • Negotiate pricing, terms and conditions, deal structure and service proposition with brokers /clients.
  • Maintain average price of allocated portfolio of new business accounts at œtechnical or œUnderwriting Guide Price and renewal accounts within agreed rate movement parameters.

Manage Relationships
  • Develop strong, long term relationships with external stakeholders.
  • Deliver agreed internal and external Service Level Agreements/requirements.
  • Interface with a support team to transmit submission information.

Experience & Qualifications Required:
  • An undergraduate degree, Chartered Insurer status or progress towards.
  • Experience of Commercial Insurance environment from a company, agency or brokerage role.
  • Proven ability to build and maintain strong professional relationships internally and externally.
  • Strong in terms of:
    • Technical & Regulatory framework knowledge of UK Casualty Lines of Business including product features, forms, regulatory environments and risks.
    • Knowledge of corporation laws and legislation in country of client.
    • Analytical skills of numeric data and ability to interpret, apply actuarial pricing guidelines to specific situations.
    • Sales, negotiation and presentation skills " written and verbal.
    • Detail orientation
  • Highly motivated and results driven.
  • Ability to work in dynamic and fast pace environment, adapt to changing requirements and collaborate with a wide range of colleagues to deliver solutions.
  • High degree of comfort with analytical tools and technology.
  • Ability to communicate reasoning behind generated premium, terms and conditions.
  • Willingness to be flexible, learn on the job, and maintain a can-do attitude.
  • Awareness of developments and trends in the Commercial Insurance sector relating to Casualty.

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.

Job Sector
General Insurance
Job Position
London, UK Show on map
Post date
Closing date

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