Job Information
AIG Head of Underwriting, NA A&H in New York, New York
Head of Underwriting, North America Accident and Health
Join us as Head of Underwriting, North America Accident and Health to step up to a key team leadership role that will drive business growth.
Make your mark in Underwriting
AIG underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, and Multinational Clients. 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.
This role will report into the Regional Head of A&H and the Global Chief Underwriting Officer of A&H and is focused on developing and implementation of the regional underwriting strategy. This role will drive local business development and provide oversight and authority to support the local underwriters within their respective geographies. The A&H Regional Underwriting Manager has P&L accountability for top and bottom line as determined through the annual budget.
How you will create an impact
Lead the local teams to meet planned financial and operating targets
Responsible for achievement of financial targets for revenue, profit and growth
Achieve new business and retention objectives
Deliver on underwriting profit results with focus on loss ratio and combined ratio
Manage field pipeline and activity goals for underwriting teams
Responsible for pricing in consultation with actuarial to meet financial objectives
Govern the Underwriting Process
Responsible for underwriting framework, best practices, underwriting guidelines, risk appetite, authorities and rating tools (e.g., rating, pricing, product features and risk segmentation)
Ensure all underwriting initiatives are complaint with local regulations and aligned with A&H strategic objectives and global principles for risk appetite
Handles referrals within stated authority. Analyze and underwrite large accounts and complex risks. Provide detailed explanation of decisions made to enhance knowledge of underwriters
Drive consistent underwriting, claims and portfolio management best practices and guidelines across region and segments to ensure rating and pricing adequacy of the business
Oversee portfolio management to direct strategic underwriting decisions. Provide leadership in the decision making on required actions. Ensure execution on agreed upon underwriting corrective action plans
Manage governance of policy and endorsement wordings
Review, evaluate, and recommend modifications to underwriting guidelines and workflows.
Ensures effective utilization of monitoring standards including audits, quality reviews and peer reviews to assess underwriting results and loss ratios
Manage the Regional Underwriting organization
Lead a team of underwriters for both new and renewal business. Partner with product and regional leadership on the development and execution of new business and renewal strategies for A&H products
Actively manage, monitor and set goals for production underwriting
Strengthen A&H capabilities to lead middle and large account segments and Multinational activities
Partner with local product and distribution leadership to identify and target new business and cross sell opportunities into P&C base. Develop and disseminate tools to support underwriting and sales processes
Provide ongoing training to improve underwriting skills, and develop succession plans based on competency of our underwriters
Develop and execute underwriting training plan for the region including production of training materials and delivery of training.
Drive continuous improvement of underwriting productivity through implementation of underwriting strategies (automation, referral process, etc.) to optimize efficiency
Maximize resources and ensure consistency in underwriting, service and market facing activities
Develop tools and strategies, in collaboration with HR, to attract and retain top industry talent and develop high performing teams. Drive a culture that promotes collaboration, diversity and inclusion.
Lead and support product development with actuaries and local teams
Accountable for monitoring and adherence to and ongoing improvement of AIG General Insurance Policies and Standards for product development which are core to internal and external regulatory supervision
Responsible for the product development calendar, pipeline activity reports and all tiering approvals
In conjunction with the Regional Head of A&H, accountable for the management of business case submission process within local and/or to regional and/or global stakeholders.
Support the development of new products and/or product enhancements aligned with agreed business strategy and with segmented customer needs.
Develop product constructs that support agile deployment opening multi-channel and partnership strategies.
Support global initiatives including development of universal product and rider concepts
Responsible for the product development calendar annual plans, budgets and metrics in partnership with Regional and Local product heads
Assist in defining customer needs and identifying product opportunities in the market. Help to prioritize, size and expand existing products and/or introduce new products utilizing market trends to understand opportunities, gaps and our competitive position in the market
Develop underwriting guidelines for new products setting forth guidance on coverages, terms, conditions and limits. Create and/or approve policy wording
In partnership with pricing actuaries and business analytics, develop pricing and portfolio strategies and rating models
Ensure adequate and regular monitoring and analysis of product performance including post launch reviews and corrections
What you will need to succeed
Technical Skills
Preferred 10+ plus years of underwriting experience with P&L responsibility, with at least 5 years of underwriting management experience with A&H insurance products
A commercial thinker with deep knowledge of insurance and financial services industry; an ability to determine how external changes or decisions will impact the company, and plan accordingly. Strong financial acumen; able to anticipate, identify, and explain the financial implications of decisions
Strong customer service ethic, with a sound understanding of the business processes
Knowledge of market segmentation, portfolio management, acquisition and multiple distribution systems
Ability to drive and execute global strategies and best practices
Established strong relationships with customers, intermediaries, and regulators
Demonstrated business savvy, analytical and quantitative skills
Leadership skills
Proven Strategic Leadership skills in developing vision and purpose and driving for results
Strong interpersonal and communication skills. Proven ability to lead, motivate and gain commitment and trust from direct reports and colleagues
Influencing skills and proven ability to work across interdisciplinary teams that are geographically dispersed and cultivating a network of productive relationships in an international matrix environment
Demonstrated capabilities in developing a high performance organization. Proven ability to manage diverse teams of people
For positions based in New York City, the base salary range is $153,000 - $225,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview. (https://sprcdn-assets.sprinklr.com/248/0a780968-b61c-4521-b06e-ffe3eb552e83-228292781/New_Hire_Benefits_Overview_202.pdf)
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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 candidatecare@aig.com .
Functional Area:
UW - Underwriting
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
National Union Fire Insurance Company of Pittsburgh, Pa.
At AIG, helping people discover new potential is our purpose. As a global risk leader, we do this for our clients every day. Through our deep expertise in their industries and our innovative solutions that help them smartly manage risk, we enable their growth in ways they never thought possible.
But we also do the same thing for our employees, because we know our people are our greatest strength-the source of every insight, every idea and every innovation. When we're working as one team to do what's right for our colleagues and our communities, we can achieve excellence together. We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.
Join our Talent Network (http://www.aig.com/careers/life-at-aig/join-the-talent-network) . Additional information about AIG can be found at www.aig.com | YouTube (http://www.youtube.com/aig) | Twitter (http://www.twitter.com/AIGInsurance) | LinkedIn (http://www.linkedin.com/company/aig) .