Job Description

Make your mark in Legacy Solutions Claims

Our Claims teams are the proven problem solvers of choice for clients, delivering consistent technical excellence and showcasing our service differentiation to create an unparalleled global claims handling experience. Through a robust stakeholder feedback loop and supported by consistent processes and leadership, we take pride in delivering responsive, fair and professional service with empathy and efficiency.

How you will create an impact

As Manager – Assumed Claims, you will be responsible for management of legacy assumed reinsurance claims and other assigned run-off portfolios. You will ensure claims staff resolves assumed claims in compliance with the terms and conditions under the reinsurance contracts. You will interact with clients, vendors, cedant reinsurers, and retrocessionaires and be responsible for reporting financial transactions, loss exposures, and reserving to various departments including actuarial and senior management. You will also confirm that the assumed claim staff appropriately determine the applicability of the reinsurance treaty, facultative certificate, retrocessional or insurance contract to the loss presented to AIG.

• Responsible for various run-off claim portfolios, directly handled by assumed claim staff and by Network Partners
• Oversees all assumed claim personnel in respect of claim technical compliance, reserving and settlement
• Effectively implements litigation management controls to any circumstance, as warranted
• Reviews and authorizes payment of accurate billings and cash calls
• Leads communications with business units to address business matters proactively
• 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 direction in respect of mediations, arbitrations, and court hearings involving reinsurance and insurance contracts, as necessary
• Directs 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 matters

What you will need to succeed

• Experience:
  • 10+ years of relevant experience in an insurance/reinsurance company
  • Ceded or assumed reinsurance experience
  • Reinsurance Claims or Accounting experience
  • Management experience required
• Associate Degree or Bachelor's (CPCU, 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

Ready to make a bigger impact? We look forward to reviewing your application.

For positions based in New York City and Jersey City, the base salary range is $118,000-$140,000. In addition, 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: 2024 Benefits Overview .

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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—to bring peace of mind to you and your family.

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 .

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