Senior Actuarial Development Program Jobs in Massachusetts

Associate Actuary - Professional Lines Pricing - Lexington

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.

• 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.

What we are looking for

• 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.

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.

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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.

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