Actuarial Analyst (2024 Early Career Program)

Your future team

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 Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. They collaborate with Underwriting, Marketing, Operations and Finance and Business Management Team.

About the role

The Actuarial Analyst will be a key member in APAC Accident & Health (A&H), Travel and Warranty Pricing and Portfolio Management team (PPM), working closely with regional business, underwriting team and local business units.

What you need to know:

• Produce pricing analyses/rate level indications at a portfolio or individual account level with accuracy and within agreed timescales by work closely with underwriters. Ensure appropriate loss cost assumptions are adopted, expenses are loaded as per global expense guidance and pricing methodologies are actuarially sound and in accordance with global pricing guidance.
• Actively involved in quarterly business review exercise. Identify and communicate key trends and/or loss drivers to stakeholders and subsequently recommending and monitoring of remedial actions.
• Collaborate with Data, System, and Underwriting functions to optimize local data platform, BI tools, and portfolio management mechanism, regularly maintain dashboard and update mapping table as needed.
• Support the annual budget loss ratio exercise by engaging with local/regional business and underwriting team. Liaising with regional/international actuaries on the budget loss ratio exercise.
• Support regional input on global guidelines and data collection as needed
• Provide the local business with ad hoc actuarial support as required to profitably grow their business and take remedial action where needed.
• Assist in researching and developing best estimate assumptions and advanced pricing techniques/predictive modelling.
• Consistently optimize pricing models of various products/ business lines, leveraging VBA or other programs to enhance the automation of models.
• Support the annual Marketing Allowable review exercise, compute lapse ratios for different segments, and implement the Marketing Allowable in Salesforce.
• Creation and regular maintenance and updates of pricing templates and documentations for various regions and minor lines of business.
• Creation and maintenance of pricing assumptions and rate libraries, ensuring log is updated timely for changes in the rate libraries.
• Documentation of key pricing assumptions, SOP, and best practices for various process within PPM.
• Any other duties as required.

What we are looking for:

• Bachelor or above degree in Actuarial Science, Mathematics, Statistics, Data Science or related area preferred.
• Strong ability in data science, proficiency in SQL and at least one programming language (e.g. R/Python/SAS) is a must, willingness to pick up new programming languages and tools if needed.
• Proficiency in Microsoft Office is a must, VBA is preferred.
• Relevant internship experience in insurance, reinsurance, or data science field.
• Strong analytical and problem-solving skills.
• Excellent communication, presentation, and interpersonal skills.
• Willing and able to continuously learn and adapt in a dynamic and fast changing environment.

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 belonging

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 our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity 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 candidatecare@aig.com.

Functional Area:

AC - ActuarialEstimated Travel Percentage (%):Relocation Provided:AIG Insurance Company China Limited