Underwriter

Purpose: Under supervision, underwrites terminal finding pension plans with the ability to evaluate and take intermediary action on standard or better risk assessments.

50%-New Case Underwriting

- Under supervision of senior staff members, prices and underwrites Terminal Funding Annuity (TFA) contracts with case size up to $500 Million, and provide related administration to acquire profitable business in accordance with actuarially sound risk/return targets.

- Coordinates activities with the actuarial department. Adapts pre-populated pricing models to calculate price that best achieves profit targets and adjust post-sale pricing.

-Communicates quotes to consultants and brokers and write bid proposals.

-Drafts contracts in conjunction with the legal department, and ensures that actuarial department and administrative operations have information consistent with the company’s NY operation

40%-Actuarial Benefit Calculations

- Performs individual benefit calculation requests as part of the daily quote request log from customer service department

- Creates and submits approved benefit quote sheets for existing cases, and for cases in which the current quote tool needs revisions due to updates in pension regulations and market knowledge

-Performs lump sum verifications for all payouts of or greater than $100,000

10%-Miscellaneous

- Reviews and amends case profiles submitted from customer service department

- Calculates adjustments for repricings which arise from ad hoc participant data changes

-Determines when issues require referral upward to a senior staff member to ensure best underwriting practices.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.

AIG Property Casualty is a global market leader, one of the few truly global property casualty franchises.

AIG Life and Retirement is one of the largest life insurance organizations in the U.S., and provides protection, investment and income solutions needed for financial and retirement security.

United Guaranty Corporation is the marketplace leader in mortgage insurance in the U.S.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig

News Source