Senior Underwriting Specialist - Group Captives

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Senior Underwriting Specialist to play your part in that transformation. It's an opportunity to grow your skills and experience as a valued member of the team.

Make your mark in Underwriting

AIG underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, Multinational Clients, and High Net Worth individuals. We are reimagining how we help customers to manage risk, transforming our operating model, and reshaping our role responsibilities and career pathways. The goal is to unlock the full potential in each colleague - empowering our people to grow as insurance professionals and add more value to our customers and AIG.

Senior Underwriting Specialist, AIG Group Captives

The Senior Underwriting Specialist role will lead the execution of underwriting guidelines to ensure accurate and timely booking, financial reporting, pricing adequacy and adherence to risk appetite. It will be responsible for executing the underwriting strategies for AIG's Group Captive products by facilitating profitable and sustainable business. This will encompass consistent SOP development, portfolio management, and underwriting governance.

How you will create an impact

Underwrite Workers' Compensation, General Liability, and Auto Liability Casualty product lines and onboard new member business opportunities for a large Group Captive program.
Ensure accurate and timely premium bookings and financial reporting for renewals, new business, and audits.
Develop and provide superior customer service by maintaining strong working relationships with Captive Intermediaries to sustain portfolio profitability through regular on-site visits, conference calls, etc.
Foster collaborative relationships with associates in Actuarial, Finance, Operations, Claims, and Distribution to ensure a team approach to deliver customized and innovative solutions to captive intermediaries/insureds.
Facilitate internal bi-annual captive reviews and challenge the underwriting team's risk assessments and rate adequacy needs.
Develop and assist in negotiating business plans, including strategies for new business, renewal rate management, and optimal retentions to position the division to achieve profit objectives.
Understand portfolio industry mix; the industries, exposures to loss, and coverages afforded as needed to minimize adverse exposures to unanticipated loss.
Actively participating in new captive opportunity due diligence reviews and the onboarding and implementation of captives.
Oversee the captive cession approval and flow of funds process for the Group Captive business.
Provide mentoring, training, and skill building to underwriters, professional associates, and credit analysts.
Review business processes / analytics and provide leadership in the decision-making on required underwriting actions including, but not limited to, the annual renewal roundtable sessions.
Develop and update Group Captive's risk appetite in coordination with Captive Solutions' management team.
What you'll need to succeed Minimum 5+ years of Commercial Casualty Insurance Company experience, with a focus on alternative risk, construction or captive business.
Bachelor's degree from a four-year college or university preferred
Proven ability to build and maintain strong professional relationships.
Extensive finance experience within US Casualty lines of business (Workers' Compensation, Auto Liability, and General Liability) across small, midsized, and large risks with advanced working knowledge of product features, forms, regulatory environments, and concentration risks, etc.
Strong background in various program structures including, but not limited to, Guaranteed Cost, Deductibles, Captives and Self-Insured Retentions.
Strong knowledge of optimizing underwriting profits through sound underwriting decisions and risk selection in casualty lines of business.
Excellent analytical and communication skills.
Ability to work independently and collaborate with colleagues within and across departments.
Ability to effectively manage time and deadlines.
Strong leadership in cross-functional teams ensuring high-quality underwriting, adequate pricing, sensible business processes, and regulatory compliance.
Excellent technology skills, including Outlook, Powerpoint, Word, Adobe and Excel.
Highly motivated and results oriented.
Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions.
Willingness to be flexible, learn on the job, and maintain a can-do attitude.

Travel required - 25%

For positions based in New York, the base salary range is $115,000-$170,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan.

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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 networks. It is an exciting time to join us - across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of belonging

We're committed to creating a culture that truly respects and celebrates each other's talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG's greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides 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.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [email protected].

Functional Area:

UW - Underwriting

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

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