Reinsurance & Product Manager

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 Reinsurance & Product Manager, you play critical role in the strategy of risk transfer 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

• Reinsurance management for A&H Life portfolio
• Communication and coordinate reinsurance agreements with reinsurer partners
• Collaborate with reinsures on joint risk rate development for new product introduction
• Reinsurance ceding and RI recovery coordination, confirmation, and booking management
• Co-work with Product Planning Manager to support product ideation & concept design, covering product development aspects e.g., market product development trends, regulatory trends, etc.
• Industrywide product analysis, performance, profitability analysis, reporting, and input reflection during product ideation and development process
• Confirm initial feasibility of product ideation through high level product development trends
• Recommend modifications to existing products, production processes, or other characteristics to improve the environmental soundness or sustainability of products
• Co-work with Product Planning to identify, develop, or evaluate product development strategy, based on knowledge of established objectives, market characteristics, and cost and markup factors from product development technical perspective
• Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections

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

• Experience of Product Management in Personal Insurance
• Strong project management, and project execution skills, with proven ability to deliver key projects and programs on time and on budget.
• Strong communication skills including the ability to develop and present clear and concise analysis and recommendations to senior management.
• Strong collaboration skills
• Strong business acumen with a proven track record of making sound judgments backed by strong analytical skills.
• Action Oriented – enjoys working hard and looks for challenges; able to act and react as necessary, even if limited information is available; not afraid to take charge of a situation; can overcome resistance to leadership and take unpopular stands when necessary

Key Responsibilities :

• 장기 인보험의 재보험 관리
• 재보험 파트너와의 출재조건 협상 및 관리
• 신상품 개발을 위한 재보험사와의 협업
• 재보험 출재 및 환입 관련 업무
• 상품 아이디어 및 컨셉 개발, 신담보 개발에 있어 Planning 팀의 Product Planning Manager와 협업(시장 트렌드, 규정 변화 등을 포함)
• 산업 전반에 걸친 상품들에 대한 분석, 조사 및 그 결과를 상품개발 프로세스에 투영
• 최근의 상품개발 트렌드 및 고객 니즈변화를 이해하고 상품 아이디어의 초기 단계부터 이를 투영
• 기존 상품의 지속 가능성 및 수익성 향상을 위한 제언
• 상품개발 과정에서 재무적 전략을 수립하고, 그 성과를 추정하고, 판매 후 이를 측정하며, 장래 추이를 전망하여 상품 개정의 방향성을 제시

Key Capabilities & Experience

• 제3보험 영역에서 상품전략 및 재보험 관리 경험자
• 프로젝트 관리 및 수행 역량. 우수한 레퍼런스 보유자 우대
• 분석과 프리젠테이션 영역에서 축적된 능력으로 의사결정권자와의 원활한 소통
• 협업, 날카로운 비즈니스 통찰, 과학적 분석 등을 바탕으로 의사결정을 지원하는 능력
• Hard working을 두려워하지 않고, 도전을 즐기며, 실패에 좌절하지 않고, 반복해서 도전할 줄 아는 성향
• 소신을 쉽게 굽히지 않으며, 상황 변화를 두려워하지 않고, 대중의 방향과 다른 의견을 내는 것을 기피하지 않는 진취적 성향

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)