At a Glance
- Tasks: Join our Aerospace team as a Pricing Actuary, quantifying risk and pricing insurance.
- Company: AIG, a global leader in commercial and personal insurance solutions.
- Benefits: Comprehensive benefits package focusing on health, wellbeing, and professional development.
- Other info: Inclusive culture with opportunities for continuous learning and development.
- Why this job: Make a real impact in the exciting aerospace sector while growing your actuarial career.
- Qualifications: Degree in Mathematics, strong coding skills in R and Python, and experience in actuarial pricing.
The predicted salary is between 63000 - 77000 £ per year.
Join us as a Pricing Actuary in our Aerospace team to take your career to the next level with an international market leader.
Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.
As a Pricing Actuary, you will be responsible for supporting the Aerospace business, providing pricing analyses and granular performance monitoring. This is a fantastic role for an experienced pricing actuary who wants to grow their career in this really exciting sector. You will be part of a team which services the Aerospace business globally, so you will get exposure to a broad range of stakeholders, markets and products. Some of the key responsibilities include:
- Provide the Global Aerospace Business with the actuarial and analytical support they require to profitably grow their business and take remedial action where needed.
- Be actively involved in technical pricing tool development, analysis, and enhancements using Python.
- Report and analyse performance at granular level using R (account and rating factor) so that underwriters can optimise performance.
- Lead on large transformation projects, such as rater development & enhancement in HX and development of rating models.
- In co-ordination with the actuarial pricing team, monitor rates at renewal and new business, ensure technical pricing models are in place and reviewed regularly and that any deviation is justified, monitored, and consistent amongst regions.
- Ensure data used for pricing and monitoring is complete, accurate, adequate, and timely.
- Lead profitability studies and business planning.
- Responsible for training and mentoring junior members of staff.
- Comply with key regulatory and risk management procedures.
- Adherence to Global and matrix decision making standards within the authorities provided.
What we’re looking for:
- Degree in Mathematics or related discipline.
- Significant experience of actuarial pricing within commercial or personal lines.
- Experience leading on actuarial projects.
- Strong coding skills in R and Python.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
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.
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 learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honoured 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.
Pricing Actuary (Aerospace) in London employer: AIG Insurance
AIG Insurance is an exceptional employer, offering a dynamic work environment where collaboration thrives, particularly in the heart of Lloyd's. With a strong emphasis on professional development, employees benefit from extensive growth opportunities and a supportive culture that values teamwork and compliance excellence. Working at AIG not only provides a chance to be part of a leading insurance firm but also ensures meaningful contributions to the financial integrity of managed syndicates.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary (Aerospace) in London
✨Join Aerospace Forums and Groups
Get involved in aerospace engineering forums and online communities, like the AIAA (American Institute of Aeronautics and Astronautics). It's a great way to meet industry peers and stay updated on job openings and trends in the field.
✨Attend Industry Conferences
Keep an eye on upcoming aerospace conferences and events where you can network with professionals and showcase your interest. Events like the Farnborough International Airshow are not just about flying machines; they're a goldmine for connections and potential job leads.
✨Spotlight Your Projects
Make sure to highlight any hands-on experience or projects on your portfolio that showcase your skills in aerospace engineering. Employers love seeing practical applications of theoretical knowledge. Show us what you've got!
✨Apply Directly on Company Websites
When you find companies you want to work for, head straight to their careers page to apply for full-time roles, like the one with AIG Insurance for a Pricing Actuary (Aerospace). This often puts your application in front of the right people faster than just waiting for job boards!
We think you need these skills to ace Pricing Actuary (Aerospace) in London
Some tips for your application 🫡
Show Off Your Technical Skills:When applying for the aerospace engineering role at AIG Insurance, make sure to highlight your technical expertise. Include specific software skills, like CAD tools or simulation software, and any relevant engineering projects you’ve worked on. This is your chance to really shine and showcase your engineering toolkit!
Don't Skip Your Projects!:Include a section in your CV dedicated to projects that demonstrate your problem-solving abilities in aerospace engineering. Whether it's a university project, an internship, or personal work, we love seeing how you’ve applied your skills in real-world scenarios. Make it clear what your role was and the impact of the project.
Show Your Passion in Your Cover Letter:At AIG Insurance, we're not just looking for skills – we want to know why you’re passionate about aerospace engineering. Use your cover letter to express what excites you about aviation technology and your career goals. Share any relevant experiences or inspirations that have led you to apply for this full-time position.
Tailor Your CV for Aerospace:Make sure your CV is specifically tailored to aerospace engineering. Focus on your education, any certifications, and your work experience, ensuring you highlight aspects that relate directly to the role. Don’t forget to mention any internships or apprenticeships that have given you hands-on experience.
How to prepare for a job interview at AIG Insurance
✨Brush Up on Your Technical Knowledge
Aerospace engineering is all about technical precision, so make sure you’re comfortable with key concepts like aerodynamics, propulsion, and materials science. We recommend going through any relevant coursework or projects you’ve worked on – these real-world examples can illustrate your understanding during the interview with AIG Insurance.
✨Showcase Your Projects with Confidence
Make sure to have a portfolio ready that details any significant projects you've worked on, whether it’s a group assignment or a personal endeavour. Be prepared to discuss the challenges you faced, the tools you used, like CAD software, and what you learned from the experience, as this will show your problem-solving skills in action.
✨Prepare for Technical Interviews
Expect some technical questions or even problem-solving exercises during your interview with AIG Insurance. Get familiar with design challenges or theoretical problems related to aerospace; this can range from calculating lift and drag forces to materials selection under stress. Practising these can help you feel more at ease when faced with tricky questions.
✨Emphasise Your Passion and Teamwork Skills
As a full-time candidate, it’s crucial to convey your passion for aerospace engineering and your ability to work in teams. Highlight any group projects or internships you've done, focusing on how you collaborated with others to achieve a goal. Companies like AIG Insurance love seeing candidates who not only have technical skills but also fit well within their team culture.
