Actuarial Analyst

American International Group; Parsippany-Troy Hills (NJ); On-site; USD 80,000 - 110,000; Full time

Job summary

American International Group (AIG) in Parsippany, NJ is seeking an Actuarial Analyst to monitor portfolio performance and assist with rate changes that drive profitability. You will work closely with underwriting to develop pricing strategies, present proposals to senior underwriters, and partner with IT to implement changes.

The role requires a BS in Actuarial Science or related field and 2+ years of pricing experience, with strong analytical and programming skills in Excel, SQL, Python, or R.

Qualifications

• BS in Actuarial Science, Mathematics, Statistics, or related area.
• 2+ years of experience; pricing experience preferred.
• Strong analytical and problem-solving skills.
• Proficiency in Excel, SQL, Python, R or other programming languages.

Responsibilities

• Monitor portfolio performance and assist with strategic rate changes.
• Present proposed rate changes to senior underwriters and coordinate implementation with IT.
• Develop monitoring reports to track actual vs expected results and trends.
• Collaborate with underwriting, claims, and finance during planning and pricing processes.

Skills

Excel

SQL

Python

R

Teamwork

Education

Bachelor's degree in Actuarial Science

Job description

Actuarial AnalystWho we areAt AIG, we are reimagining the way we help customers to manage risk. Join us as a Actuarial Analyst to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team.Get to know the businessOur 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.About the roleWe are seeking an actuarial professional with industry expertise to assist with monitoring portfolio performance for the Lexington Contract Bind business. The Actuarial Analyst will be responsible for working closely with UW to implement strategic rate changes that support growth while achieving profitability goals. They will present proposed rate changes to senior UWs and then work closely with IT to implement the rate changes. They will be heavily involved in the planning process as well as monitoring actual results versus expectations. It will be vital to develop a strong working relationship to build the trust of UW. They will also partner with claims staff to understand changes in claims handling & trends in the judicial environment.What you need to know:Support the Commercial Contact Bind Underwriting Team which writes small commercial property, liability, garage, and excess.Produce profitability studies and effectively communicate results to UW.Work closely with underwriting to develop pricing and underwriting strategies and identify pockets of profitable growth opportunities.Work closely with programming to implement rate changes.Continue to build out monitoring reports that provide UW with an understanding of the book of business.Support finance and UW during the annual planning process.Estimate, review, and evaluate the monthly Actual versus expected at a pricing segment level. Monitor loss trends, relevant industry, and regulatory changes and effectively communicate to management impacts on business.Review underwriting actions impacting loss ratios to assess impact on current and future performance and collaborate with underwriting to identify future underwriting actions.What we’re looking for:BS in Actuarial Science, Mathematics, Statistics, or related areaRequires 2+ years or more experience, pricing experience preferredStrong analytical and problem-solving skillsWork well both independently and as part of a teamProficiency in Excel, SQL, Python, R, or other programming languages preferredStrong business and collaboration skills and responsive to service needs and operational demandsEffective time management skillsExcellent communication, presentation, and interpersonal skillsCustomer focus#LI-AIG #actuarialcareers #actuary #actuariesAt 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 mattersAt 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 worldAmerican 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 inclusionWe’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] Area:AC - ActuarialAIG PC Global Services, Inc.