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Company Name : AIG
Company Location : Philadelphia, PA 19103
Job Position : Reinsurance Claims – Assistant Manager
Job Category : Jobs in Pennsylvania
Job Description :
Who we are
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Get to know the business
General Insurance is a leading provider of insurance products and services for
commercial and personal insurance customers. It includes one of the world’s most far reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.
Our Claims professionals support AIG policyholders through some of the most trying times. When our clients face losses large and small, we step up to help them ease the financial burdens of catastrophic events like fires and hurricanes; we help them get their businesses back up and running again or recoup the value of a lost family heirloom or a prized possession. Our Claims team is an industry leader, drawing daily on its unparalleled levels of expertise to offer our clients the highest levels of stewardship to drive total cost of claim improvement and consistent outcomes. AIG manages claims using a wealth of technical and market knowledge about risks, business practices, and the ever-evolving legal and regulatory environment.
What you need to know:
This role is responsible for managing staff handling assumed reinsurance claims. This role ensures compliance with the terms and conditions under the reinsurance contracts. The Assistant Manager interacts with clients, vendors, cedant reinsurers, and retrocessionaires. Reports financial transactions, loss exposures, and reserving to various departments and senior management.
Confirms that assumed claim staff appropriately determine the applicability of the reinsurance treaty, facultative certificate, retrocessional or insurance contract to the loss presented to AIG.
- Consults with assumed claim staff to analyze and develop loss information to formulate and establish timely and accurate reserves.
- Ensure assumed claims staff investigates, evaluates (reserves rights, if applicable), and negotiates coverage issues with client companies as may be required under the reinsurance treaty or facultative certificate.
- Effectively implements litigation management controls to any circumstance, as warranted.
- Validates the accuracy of billings and cash calls, promoting prompt payment issuance and collections while maintaining accurate reserves and alerting the involved business unit of issues as they arise.
- Provides performance management to assumed claims staff including coaching, feedback and development.
- Actively participates, as a member of the Reinsurance Team, in identifying emerging trends and assumed claim exposures.
- Provides support for mediations, arbitrations, and court hearings involving reinsurance and insurance contracts, as necessary.
- Participates in claim reviews and compliance audits for ceding companies/third-party administrators/self-administered cedants in respect of assumed reinsurance exposures.
- Work closely with financial controls unit, internal and external audit on reinsurance
What we’re looking for:
- 5+ years of relevant experience in an insurance/reinsurance company.
- Ceded or assumed reinsurance experience.
- Reinsurance Claims or Accounting experience.
- Management experience preferred.
- Associate Degree or Bachelor’s in Accounting or Finance (ARe, AIC, other designations a plus).
- Knowledge of reinsurance including underwriting, claims, accounting, finance and associated process, controls and systems.
- Experience with reinsurance operations and finance.
- Understanding of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data.
- Strong technical skills in Microsoft Excel, Power Point and Word (Access a plus).
- Demonstrated verbal and written communication skills.
- Negotiation, analytical, decision making, problem resolution and organizational skills.
- Process transformation and control improvement experience is a definite plus
For positions based in Jersey City, the base salary range is $92,000-$115,000. For positions based in New York City, the base salary range is $86,000-$116,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: AIG Benefits Overview.
We’re proud to offer a range of employee benefits and resources that help you protect what matters most – your health care, savings, financial protection and wellbeing. We provide a variety of leaves for personal, health, family and military needs. For example, our “Giving Back” program allows you to take up to 24 hours a year to volunteer in your community. Our global mental health and wellness days off provide all colleagues with a paid day off to focus on their mental health and wellbeing.
We also believe in fostering our colleagues’ development and offer a range of learning opportunities for colleagues to hone their professional skills to position themselves for the next steps of their careers. We have a tuition reimbursement program for eligible colleagues to enhance their education, skills, and knowledge in areas that relate to their current position or future positions to which they may transfer or progress.
We are an Equal Opportunity Employer
American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. 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 such as sexual orientation. 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.
To learn more please visit:
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to
. Reasonable accommodations will be determined on a case-by-case basis.
AIG reserves the right to conduct a criminal background check, tailored to the requirements of a job, after a conditional employment offer is made. Unless otherwise required by law, AIG does not automatically exclude any applicant with a criminal conviction for a job or class or jobs. For more information about Philadelphia law specifically, copy and paste the following link within your browser: http://www.phila.gov/HumanRelations/PDF/BTB%20POSTER%20FINAL_3-9-16.pdf
CL – Claims
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
AIG Claims, Inc.