Product Developer (DDM)

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
Personal Insurance, especially Long Duration A&H(Accident and Health) is a leading provider of insurance products and services for personal insurance customers. Personal Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

Your future team
AIG’s Long Duration Product Development team is at the fore-front of AIG Korea’s Personal Insurance business, focusing on new coverages and products, pricing strategy, unique and attractive CVP(customer value proposition), and management of the existing products. Frequent interactions and collaboration with major functions such as distribution, PI strategy, marketing, customer service, claims, Portfolio Management, etc. is a must for this team.

Your contribution at AIG
As a Product Developer (TM/Digital), you play critical role in the strategy of new products/coverages and market sensing about new products and services, and the tracking after launch to find should empower or remediate. Innovation, creativity, negotiation skill and market networking are key, but the ability to combine and balance this with feasibility and marketability will be critical to you and the company’s success, and we welcome this type of mindset and thinking for this role. Organizational and attention to detail capabilities are also critical, as you will need to drive product & service idea through execution and launch. Ultimately, your successful drive will ensure that AIG Korea is a leader in new products & services innovation, as well as, maintaining market leading customer and distribution experience.

About the role:
Key Responsibilities

• DDMTM product technical design & development
• Analyze and reflect customer and market movements for products within DDMTM channel
• Collaborate with DDMTM channel for distribution feedback and alignment to product design
• Support developing out product ideation with Planning team, including support of concept validation and lead-in to technical design
• Product technical design & development, both new and updates to existing products
• Product packaging in collaboration with UW
• Co-work on updates to policy wording with UW, supporting product design aspects
• Support product profit testing team with technical design input; adjust as needed in conjunction with the profit testing actuarial team
• Communication with channels on product spec, design, pricing, profitability, margins, etc.
• Business case development for all new and updated products
• Analysis of product design in support of any existing product remediation, as needed
• Market and competitor product and coverage knowledge, analysis, benchmarking, and leverage
• Support new and updated product launch process
• Product documentation and advertising review and approval from regulatory – product spec and related parts

What we’re looking for:
Key Capabilities & Experience:

• Sufficient experience with accidental and health product development or pricing of Non-Life insurance.
• Strong ability in delivering new product ideas within accidental and health product lines
• Deep knowledge of actuarial science, qualified actuary is a plus
• Ability to work with various distribution channels, especially Digital channel (partnership)
• Excellent communication skills in Korean, and English skills is a plus
• Analytical power, communications, interpersonal and collaborative skills
• Early adaptor & visionary with an innovative & disruptive mindset, having demonstrated ability to adapt product, marketing, and acquisition tactics in response to market & industry Insight & developments

A look at our Benefits

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: 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 [email protected].   Reasonable accommodations will be determined on a case-by-case basis.

Functional Area:

AC – Actuarial

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

AIG Korea Inc. (South Korea)