Functional Area: UW - Underwriting

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

AIG Asia Pacific Insurance Pte. Ltd.

Your future team

AIG’s underwriters develop insurance solutions that address the exposures of companies and individuals, and embody AIG’s tradition of innovation, bringing to market groundbreaking insurance solutions for our changing world. AIG’s underwriters help to find insurance solutions for risks from a range of areas including life insurance, aviation, financial lines, casualty, environmental, catastrophic events, high net worth individuals, and boardroom liabilities.

Your contribution at AIG

As an influencer at AIG, people come to you as a “go-to” source for help and support because of your deep knowledge and expertise. As a more experienced team member, you are capable of driving continual improvement and impacting the way that things get done. Because of your influence, whether direct or indirect, we are able to deliver powerful outcomes for our clients.

Scope: Commercial Directors and Officers Liability, Commercial Crime

To underwrite Commercial Directors and Officers Liability, Commercial Crime aspects of the Profit Center’s business including:

• Support growth and profitability objectives as outlined by the Profit Centre.
• Contribute to planning – Assist in identifying growth opportunities, new business segments, new product opportunities to support growth objectives.
• Adhere to all underwriting procedures and compliance protocols as required.
• Assist with account targeting strategy and product development initiatives.
• Maintain strong working relationships with tiered brokers.
• Creating simplified approach in underwriting Agency Business/SME.
• Conducts training to Agency Business Development Managers and Top Financial Lines Agents.
• Ad-hoc special projects or requirements that may arise from time to time.

Key Accountabilities

Customer

• Assist with the maintenance/development of solid working relationships with all clients, brokers, reinsurers and other stakeholders and managing broker visitation schedule for staff in consultation with Profit Centre Manager
• Help to identify business opportunities for other profit centres to support the company’s cross marketing strategy.
• Liaise with administration staff, legal, claims, finance and accounting and any other services centre to ensure awareness of underwriting and business activities support standards required.
• Help identify opportunities and strategies in support of growth in CAP and MAP segments and develop appropriate distribution solutions in country environment
• Assist with multinational development plans so that AIG gains the maximum share of available profitable income from key/potential producers
• Continuous Development of Professional Indemnity Products, including localization of APAC approved wording.
• Lead the launch of new policy wordings and/or Agency/SME specific product initiatives.
• Ensure delivery of reports and compliance tasks in timely fashion to key internal stakeholders as and when required.
• Keep PCM aware of all major underwriting issues

People

• Conduct hard and soft skills training as required to continue to develop technical and professional competencies.
• Maintain a professional and solution based approach to underwriting
• Contribute positively and constructively during performance review and goal setting process
• Supervise, train and mentor staff assigned under him/her

Financial

• Profitable growth within budgeted objectives.
• Expense management as directed by PC and Management.
• Assist with planning for the PC within a matrix environment.
• Development and Implementation of business plans with appropriate guidance from PCM and Management.
• Highlight trends in portfolio to PCM.
• Hold quarterly meetings with claims to proactively reduce number of open claims.

Business Processes

• Adhere to all underwriting disciplines within the profit centre.
• Responsible for adapting and implementing underwriting strategy and methodology to meet production target effectively and profitably.
• Referral of Renewal or New Business to PCM/Regional/NY Product Line Managers which falls outside of delegated underwriting authority.
• Work within corporate guidelines and delegated underwriting authority as appropriate.
• Prompt and timely advice to Segment/Commercial/Country Managers on New Business and Renewal negotiations on accounts that the PC identifies at risk prior to finalisation wherever possible.
• Effective use of Multinational Platforms to service Multinational Accounts where Singapore is the Producing Office. Ensuring prompt issuance of Local Admitted Policies on Multinational Programs.

What we are looking for

• Possess recognized insurance qualification and/or relevant tertiary degree from a recognized institution
• Five to seven years of experience in Financial Lines underwriting.
• Financial Lines Underwriting, risk management or broking background essential
• Has a well-rounded business background with experience in multiple functions (e.g., underwriting, marketing, operations, finance)
• Risk assessment including new business reinsurance negotiations and developing renewal retention strategies.
• Understands complex concepts; is analytical
• Possess broad perspective on organization businesses and practices
• Possess strong interpersonal and problem solving skills
• Understands how decisions impact the various parts of organization
• Understands what drives the bottom line; has strong financial/quantitative capabilities
• Uses technology as a strategic lever; understands technological trends that impact the way organization does business
• Uses understanding of product development, targeted marketing and channels of distribution to add to top line growth
• Keeps up-to-date on external issues affecting his/her function and the organization (e.g. political and legislative trends, where the business is headed, the industry and the competition

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide 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.

At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.