Job Information
AIG VP, Group Captives Underwriting Leader & Referral Officer in New York, New York
VP, Underwriting & Referral Officer – Group Captives
Who we are
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Get to know the business
AIG has over 50 years of experience providing a full range of market-leading fronting and captive solutions that leverage our ability to provide locally admitted insurance in over 200 countries and jurisdictions through a robust network of AIG affiliate and partner operations.
About the role
The VP, Underwriting and Referral Underwriting Manager would be responsible for a broad spectrum of technical underwriting, pricing and coverage issues for Group Captives. He or she would support the underwriters of Group Captives in producing a risk-adjusted underwriting profit for a variety of Casualty lines and products on both individual account referrals and leading the technical underwriting of portfolios in various lines of business. Major lines of coverage provided are Workers Compensation, Auto Liability and General Liability. In addition, they would efficiently handle referrals from underwriters for a diverse array of programs, including primary insurance, exposure rating, loss rating, aggregate risks and unique coverages.
The VP, Underwriting and Referral Underwriting Manager would bring strong leadership in cross-functional teams ensuring high-quality underwriting, adequate pricing, innovative product development, sensible business processes and regulatory compliance. They will foster collaborative relationships with associates in the Underwriting Shared Services Division, Division Managers, Chief Underwriting Officer, Head Actuary, Head Marketing Officer and other associates. They’ll also provide mentoring, training and skill building to underwriters.
This position reports to the SVP, Group Captives.
What you need to know:
Deep Group Captives industry expertise to manage and oversee the underwriting of complex risks.
Responsible for the development and execution of specific product line strategies and have direct ownership over the Budget and P&L for the product line.
Develop and implement strategies to maximize penetration, volume/growth and profitability for AIG Group Captives.
Lead all aspects of portfolio management and client/broker-facing activities.
Serves as a technical expert and exercises technical authority with regards to underwriting issues.
Drive consistent underwriting best practices and guidelines across zones and segments to ensure rating and pricing adequacy of the business.
Responsible for staying up to date and current with industry/ product trends and adopting coverage as needed.
Working with CUO, responsible for setting rate strategies as well as monitoring rate results within a product or segment.
Working with the CUO, develops and manages all product guidelines so that they are current with the vision of the captive.
Establish field underwriting authority levels for the product in conjunction with SVP, Head of Group Captives.
Manages the product line to established objectives, makes decisions in response to market conditions.
Assess technical specialization and segments within product to determine priorities, provide referral and other support to underwriters, and develop execution strategy.
Provides product specific training within and outside the respective Division.
Ensures the required standards of governance, systems and controls, and regulatory compliance are established and maintained.
Work with broker, clients and internal resources to develop innovative new products and capitalize on competitive advantage.
Develop talent acquisition strategy to ensure the best talent is in place to underwrite risks.
Assess technical specialization and segments within each product to determine priorities, provide referral and other support to underwriters, and develop execution strategy.
Develop and ensure effective utilization of detailed monitoring standards including quality reviews to assess underwriting results and loss ratios down to the account level Understanding of regulatory and compliance processes.
Establish relationship with Distribution and geographic leadership to collaboratively market/distribute product and create mutual understanding of overall parameters and goals with National view on trends.
Manage risk appetite and reinsurance (treaty and facultative) strategy in conjunction with SVP, Head of Group Captives and Reinsurance Officer within parameters set by Global Underwriting and Reinsurance Officers.
What we’re looking for:
Broad based insurance industry experience with specialization in Group Captives.
Preferred minimum of 10+ years of insurance operational management experience
Knowledge of market segmentation, portfolio management, acquisition and distribution
Process and system skills
Advanced knowledge of reinsurance and first party insurance
Strategic orientation, managing vision and purpose, developing organizational capability
Strong influencing and communications skills and ability to work across multiple areas of company and industries
Change and team leadership, as well as, external thought leadership
For positions based in New York City, the base salary range is $189,000-$243,000 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: Benefits Overview (https://sprcdn-assets.sprinklr.com/248/723ffa1b-01a8-4f89-b8aa-7469d8e62d81-213797826/2023-benefits-overview-for-cor.pdf) .
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 50%
Relocation Provided: No
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