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Product Development Analyst

at AIG in Wilmington, Delaware, United States

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.

About the role

The primary function for the Product Analyst role is to prepare and design new and enhanced product forms for the US Travel team. The role requires close collaboration with key partners in the following business functions – Underwriting, Distribution, Actuarial, Legal, Claims and Marketing to ensure the success of the strategic goals of US Travel Team are met from a product perspective.

What you need to know:

+ Draft language for generic and state specific product policy forms for assigned projects for filing with state DOI’s based on company standards and all relevant legal and regulatory requirements, including necessary forms to facilitate approval/sign-off from management and relevant business teams.

+ Review proposed insurance policies, endorsements, rates and rules and assist business unit on filing strategies, pre-filing research and areas of deficiency.

+ Develop policy wording for new coverages that accurately defines the intent whether for a completely brand-new policy form or an amendment that adds new coverage to an existing form.

+ Form types developed: policy, certificate, riders, endorsements, amendments, filing letters explaining product scope/covered groups/product variations, Explanation of Variables, and Issue Manual Pages.

+ Development of policy forms for “single case filings” as needed and in accordance with state statutes and regulations based on information provided by product, underwriting, actuarial, legal and compliance teams.

+ Partner with state filing department, legal, compliance, product, underwriting and actuarial teams to obtain responses to comments and/or objections from state insurance examiners.

+ Review objections and statutory references and develop responses to objections or comments from state insurance departments in accordance with state statutes and regulations in a professional tone.

+ Provide expertise in analyzing proposed product change requests to current or previous filings, defining possible options to support the requested changes and clearly identifying the impact.

+ Provide product support to others, including Underwriting, Marketing and training teams as it relates to policy forms.

+ Monitor and track filing statuses to ensure established metrics are met and all necessary stakeholders are kept up to date regarding form development progress and activity.

+ Review marketing material for product content to ensure compliance with advertising regulations and for clarity of product offering for the consumer.

What we’re looking for:

+ Bachelor’s degree from a four-year college or university or equivalent experience

+ 1+ years of product policy forms development experience with emphasis on Property/Casualty products

+ Experience working with state insurance departments and SERFF is preferred

+ Strong ability to analyze and interpret product specifications/business intent and transfer those requirements into compliant policy form language

+ Strong ability to interpret and translate state insurance statutes and regulations

+ Strong analytical, language and interpersonal skills

+ Strong organizational and communication skills

+ Strong ability to pay close attention to detail

+ Strong ability to function independently in a fast-paced environment

+ Strong ability to handle large and diverse workload

+ Strong execution skills with the ability to ensure achievement of critical goals

A look at our benefits

At AIG, we have a 100-year legacy of working to make the world a better place. And that begins with our employees. 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, the “Giving Back” program allows you to take up to 16 hours a year to volunteer in your community.

We also believe in fostering our employees’ development and offer a range of learning opportunities for employees to hone their professional skills to position themselves for the next steps of their careers. AIG also has a tuition reimbursement program for eligible employees 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

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. 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. 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.

It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. 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. 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: https://www.aig.com/about-us/diversity-equity-and-inclusion 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 candidatecare@aig.com . Reasonable accommodations will be determined on a case-by-case basis.

We consider qualified applicants with criminal histories, consistent with applicable law.In order to work from or visit an AIG office, and in accordance with the terms and conditions of AIG’s COVID-19 vaccination policy, individuals hired into this position will be required to attest that they have been fully vaccinated and agree to have their vaccination status and proof of vaccination confidentially stored by AIG. Exemptions may be considered on a case by case basis.

Functional Area:

OP – Operations

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

Travel Guar

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Job Posting: JC183000486

Posted On: May 07, 2021

Updated On: Oct 22, 2021