Marine Pricing Actuary

American International Group; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Marine Pricing Actuary to make a significant impact in the insurance sector. This role involves supporting the Global Specialty Marine business through detailed pricing analysis and performance monitoring. You will collaborate across various departments, ensuring the accuracy of pricing models and providing mentorship to junior staff. The company values in-person collaboration, fostering a supportive environment for professional growth. Join a team that is dedicated to innovation and excellence in risk management, and be part of a culture that celebrates diversity and inclusion.

Benefits

Comprehensive benefits package

Professional development opportunities

Inclusion and diversity programs

Qualifications

• 7+ years of actuarial experience with a strong foundation in pricing analysis.
• Ability to communicate complex actuarial concepts to non-specialists.

Responsibilities

• Provide actuarial support for the Global Specialty Marine business.
• Monitor pricing models and ensure data accuracy for pricing and performance.

Skills

Actuarial Science

Mathematics

Python

R

VBA

Communication Skills

Relationship Building

Flexibility

Education

Bachelor's degree in Mathematics/Actuarial Science

Qualified member of an Actuarial Institute

Tools

PC and mainframe environments

Job description

Join us as a Marine Pricing Actuary to make a bigger business impact with your pricing skills and w ider talents.

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. Within AIG Actuarial , 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

The Pricing Actuary will be responsible for supporting the Global Specialty Marine business, providing pricing analysis and granular performance monitoring.

• Providing the Global Specialty Marine Business with the actuarial support they require to profitably grow their business and take remedial action where needed.
• Actively involved in technical pricing tool development, analysis, and enhancements, whilst considering local market requirements.
• In co-ordination with the actuarial pricing team, monitor rates at renewal and new business, ensure technical pricing models are in place and reviewed regularly and that any deviation is justified, monitored, and consistent amongst regions.
• Report and analyse performance at granular level (account and rating factor) so that underwriters can optimise performance.
• Ensure data used for pricing and monitoring is complete, accurate, adequate, and timely.
• Responsible for training and mentoring junior members of staff.
• Comply with key regulatory and risk management procedures.
• Adherence to Global and matrix decision making standards within the authorities provided.

What you’ll need to succeed

• Bachelors degree or equivalent in Mathematics/Actuarial Science
• Qualified member of an Actuarial Institute or equivalent experience
• 7+ years’ actuarial experience
• Understanding of general insurance including underwriting policies, claims handling policies and local legislation
• Knowledge of PC and mainframe environments
• Knowledge of Python, R, VBA
• Developing ability to communicate actuarial concepts to non-specialists.
• Ability to forge relationships with other areas of the business
• Ability to work under own initiative and show flexibility to meet business needs

#LI-AIG

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 [e-mail].

Functional Area:

AC - Actuarial AIG Europe S.A. (U.K. Service Branch) & American International Group UK Ltd