Associate Actuary - Professional Lines Pricing - Lexington

AIG•New York, NY

1d•$124,000 - $155,000•Onsite

About The Position

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Associate Actuary - Professional Lines Pricing - Lexington to take on key responsibilities within a world-class actuarial function. Make your mark on the Actuarial Team Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk. AIG Lexington Insurance Company is a leading U.S.-based surplus lines insurer. For more than 50 years, Lexington has provided innovative and flexible solutions to companies and organizations of all sizes – from Fortune 100 corporations to small and middle market businesses. Lexington is renowned for its ability to help brokers find solutions to the most challenging insurance needs of their clients. How you will create an impact The Associate Actuary - Professional Lines Pricing - Lexington will provide pricing, analytics, and technical support to the Property/Casualty profit centers of AIG Lexington under the supervision of senior department actuaries. The job involves the analysis of the profitability of professional lines wholesale business including Architects & Engineers and Healthcare professional liability insurance; providing analytical insight on profitable growth opportunities within these lines. Incumbent will interact regularly with senior actuarial and underwriting management within AIG on pricing matters related to these lines.

Requirements

BS in Actuarial Science, Mathematics, Statistics, or related area.
ACAS or FCAS preferred
3 years or more actuarial experience in property casualty insurance - modelling or pricing experience is a plus.
Strong analytical and problem-solving skills.
Excellent communication, presentation, and interpersonal skills.
Work well both independently and as part of a team.
Proficiency in R, SQL, Excel or other related skills
Strong business and collaboration skills, and responsive to service needs and operational demands.

Responsibilities

Analyze the profitability of the Lexington professional lines book with a focus on claims made liability portfolios.
Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of profitable growth opportunities.
Assist in the pricing of large accounts
Maintain our rating tools including updating, improving, and maintaining the statistical tools behind these raters, whilst also working closely with underwriting to implement usability updates, new features, and new capabilities as necessary.
Monitor loss trends and relevant industry/regulatory changes with a view to communicate these trends effectively to management.
Monitor rate, exposure, retention, new, lost business changes.
Assist in providing business solutions to maximize risk adjusted profit- Develop actuarial reports to help the business effectively manage existing portfolios.
Work closely with reserving actuaries, finance partners, and claim specialists to understand dynamics within the portfolio and contribute to information-sharing initiatives with these partners.
Research, maintain, develop and review advanced pricing techniques including generalized linear models.

Benefits

The base salary range for this position is $124,000-$155,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan.
In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.
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.

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