Associate Actuary (P&C)

Associate Actuary - North America Property

We are seeking an actuarial professional to support North America Property, including Retail, Lexington, and Canada. The individual will work to streamline processes across the different Property segments. They will also partner with other pricing actuaries in implementing best practices analytical techniques, catastrophe modelers to incorporate results into pricing and quantify portfolio risk, and reserving actuaries in assessing the impact of loss trends and claims emergence.

Key Responsibilities:

• Work closely with the Chief Underwriting Office to develop pricing and underwriting strategies and identify pockets of opportunity for profitable growth as well as profitability-challenged areas.
• Review the parameters in the pricing systems, actively work to improve the pricing systems, and monitor underwriter adherence to pricing procedures and methodologies.
• Coordinate pricing, planning, and accumulation management efforts with the cat modeling team to ensure adequate risk-adjusted returns contemplating expected loss, reinsurance costs, and increased capital needs associated with cat-prone business.
• Develop analytical tools to help underwriters assess the risks posed by insureds, aligning the pricing framework across the different underwriting platforms and business classes written in Lexington’s property operations.
• Work closely with reserving actuaries to understand sources of reserve development and ensure appropriate recognition of pricing and underwriting actions impacting those estimates.
• Provide recommendations on rating methodologies, parameters, and tools to improve the accuracy of technical pricing reflecting the latest market and economic conditions and product offerings.
• Ensure alignment of tools, reporting metrics, and goals with other property teams organizationally to optimize team efficiency while maximizing value and consistency across the property portfolios.

Qualifications:

• At least an Associate of the Casualty Actuarial Society (ACAS).
• At least 5 years of commercial lines actuarial experience, preferably with significant commercial property pricing experience.
• Exceptional communication skills, including the ability to develop and present clear and concise analysis and recommendations to senior management.
• Willing and able to continuously learn and adapt in a dynamic and fast-changing environment.
• Solid understanding of catastrophe modeling fundamentals.
• Timeliness and attention to detail.

For positions based in New York, the base salary range is $129,000-$154,000. For positions based in New Jersey, the base range is $115,000-$148,000, and for positions based in Illinois, the base range is $110,000-$141,000. 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.

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.

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.

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). 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.

Functional Area:

AC - Actuarial

National Union Fire Insurance Company of Pittsburgh, Pa.