Associate Actuary

Parsippany, NJ

Who we are

Who we are American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets and manage risks. We’re also committed to making a positive difference for our colleagues and in the communities where we work and live. 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.

Get to know the business

General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem-solving skills as you improve how we predict and mitigate risk. Our Financial Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management. ​

About the role

The Pricing & Portfolio Management Actuaries focus on directly supporting AIG’s businesses and are responsible for technical pricing, product development analytics, performance monitoring and measurement, as well as assessment of reinsurance needs. The team also works with marketing, operations, and financial management to achieve AIG’s business objectives.

The candidate will be responsible for assisting with a wide range of actuarial activities to support AIG’s North American Accident & Health Accident business unit. The position will work closely with business leads, product managers, underwriting and other functional areas to deliver a wide range of actuarial support for new and existing products. The successful candidate will be technically strong, possess deep actuarial and insurance knowledge, be able to manage priorities and think creatively for new product expansion.

Responsibilities include:

• Collaborate with North American Accident & Health business teams to design, price, file and monitor a diverse line of A&H products.
• Support strategic innovation initiatives through building and evaluating new products and benefits.
• Assist with the preparation of actuarial memorandums and rate manuals to support regulatory filings.
• Respond to objections and regulatory requests.
• Perform experience and rate indication studies across accounts, portfolios and business segments to ensure rate adequacy
• Collaborate with Underwriting on large account pricing
• Independently interact with various internal and external stakeholders.
• Provide financial projections and reporting.
• Develop, enhance, and maintain underwriting rating tools and engines.
• Other ad-hoc and special projects as needed.
   

Position Requirements:

• Bachelor’s degree or equivalent
• ASA / ACAS or near to Designation
• 5+ years of actuarial experience
• A&H specific pricing experience highly preferred
• Skills with Excel VBA, Power Point
• Knowledge of SAS, R, and/or other data visualization software a plus
• Strong verbal and written communication skills

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A look at our Benefits

We're proud to offer a range of employee benefits and resources that help you protect what matters most - your health care, savings, financial protection and wellbeing. We provide a variety of leaves for personal, health, family and military needs. For example, our "Giving Back" program allows you to take up to 16 hours a year to volunteer in your community. Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.

We also believe in fostering our colleagues' development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers. We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.

We are an Equal Opportunity Employer

To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com.   Reasonable accommodations will be determined on a case-by-case basis.