Initial Loss Reporting Associate Jobs in Illinois

Associate Actuary - Retail Excess Casualty

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Associate Actuary - Retail Excess Casualty to take on key responsibilities within a world-class actuarial function.

Make your mark in Actuarial

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.

How you will create an impact
We are seeking an actuary with industry expertise to support the Pricing function within our Retail Excess Casualty segment. The position involves profitability analysis/ deep dive, rater development and maintenance, large accounts pricing review, monthly business KPI reporting, assisting with annual budget and setting portfolio strategy. Additional duties include quarterly earnings-related reporting, business AvE, diagnostics and large loss reporting. They will partner with other actuaries in implementing best practices, analytical techniques and assessing the impact of loss trends and claims emergence. Also, they will be responsible for one direct report.

• • Collaborate with underwriting to develop pricing, underwriting strategies, identify pockets of profitable growth opportunities and future underwriting actions.
  • Support the business review process and portfolio deep dives, which include reviewing underwriting actions impacting loss ratios to access impact on current and future performance.
  • Ensure accuracy of quoting and rating systems by working with Underwriters.
  • Ensure execution of rate level indications, portfolio profitability exercise and rate reviews within planned time frame
  • Collaborate with data team to drive process improvement and achieve actuarial transformation goals
  • Development and production of premium adequacy reports and budget loss ratio estimates for various segments.
  • Perform peer review for actuarial work products.
  • Communicate with and advise Retail Excess actuarial lead, underwriters, comptrollers, claims department.
  • Work effectively as part of a team and train junior staff to achieve AIG's financial, strategic and operational objectives

What we are looking for

• • BS in Actuarial Science, Mathematics, Statistics, or related area
  • ACAS preferred or close
  • +5 years or more experience in commercial casualty pricing preferred
  • Strong analytical and problem-solving skills
  • Work well both independently and as part of a team
  • Proficiency in Excel, SQL, SAS, Python, R, or other programming languages preferred
  • Strong business and collaboration skills and responsive to service needs and operational demands
  • Effective time management skills
  • Strong communication, presentation, and interpersonal skills

The base salary range for this position is $120,00-$150,000 and the positionis eligible for a bonus in accordance with the terms of theapplicable incentive plan. In addition,we're proud to offer a range ofcompetitive benefits, a summary of whichcan be viewed here: US Benefits Overview

Ready to set new industry standards? We would love to hear from you.

#LI-CM1 #Actuary #Actuarial #Pricing

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

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 inclusion

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 learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent 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 candidatecare@aig.com.