Underwriting Support Apprenticeship (London) with AIG AMERICAN INTERNATIONAL GROUP UK LIMITED
An exciting and progressive opportunity to join one of the world’s leading insurance companies. Through an immersive and accelerated learning programme called AIG Advance. You will gain an insight into how AIG underwrites a global portfolio across various product lines.
This apprenticeship requires you to apply through the employer's website.
Apply nowClosing date: 21 Jun 2023
Apprenticeship summary
-
Annual wage
£22,000.00
-
Working week
Monday - Friday, 9.15am - 5.00pm
Total hours per week: 33.75
-
Expected duration
18 Months
-
Possible start date
04 Sep 2023
-
Date posted
03 May 2023
-
Apprenticeship level
Advanced
Level 3 (A level) -
Reference number
VAC1000160124
-
Positions
8 available
What will the apprentice be doing?
AIG’s underwriters develop insurance solutions that address the exposures of companies and individuals, and our standard of underwriting excellence and tradition of innovation, bringing to market groundbreaking insurance solutions for our changing world. AIG’s underwriters help to find insurance solutions for risks from a range of areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, Multinational Clients and High Net Worth individuals.
Accountabilities & Responsibilities for the Role:
- Actively develop the knowledge and understanding of the fundamental skills and functions of the underwriting support process, underwriting process, risk analysis, and operational drivers
- To undertake defined duties in line with standard operating procedures and service level agreements to support and assist underwriters in the end-to-end processing of both new and renewal business
- Evaluate new and renewal submissions against prescribed criteria to determine completeness
- Assist underwriters with broker follow-ups on outstanding subjective
- Complete post-issuance policy review
- Exhibit a customer service mindset by proactively engaging with internal and external clients and promptly responding to calls and correspondence
- Maintain accurate and updated files for all accounts in accordance with internal service standards and procedures.
- Consistently meet service levels agreements and metrics in terms of volume, accuracy, and quality
- Attend broker or client meetings as requested
To develop the required knowledge and skills to effectively support the underwriting process:
- Collaborate with internal stakeholders (e.g., claims, actuarial, finance, distribution) to broaden knowledge of the underwriting market
- Be able to identify key risks associated with specific industry sectors and individual clients
- Be able to identify macroeconomic factors that will increase client’s exposure to risk events
- Understand how AIG assesses those risks and the underwriting strategy that should be applied
- Understand how AIG prices risk via day-to-day underwriting tools
- Train on and demonstrate proficiency in utilising underwriting systems, ensuring that all data is entered accurately
- Apply knowledge of underwriting rules and/or guidelines to support submissions
- Understand the various insurance products that AIG offers our clients and customers, plus a basic understanding of AIG’s underwriting strategy and vision
- Understand underwriting authority and how it is obtained
- Adhere to all Compliance requirements
To undertake projects which contribute to the team and its strategy, such as:
- Work with internal stakeholders to develop and deliver tailored solutions
- Support the team with client proposals
- Assisting on work that aims to streamline the workflow, such as process improvement
To undertake all learning and developmental aspects relating to the AIG Advance programme e.g., CII Cert qualification, off-the-job and on-the-job activities and tasks:
- Utilise internal on-line training tools
- Undertake the targeted Chartered Insurance Institute training programmes
What training will the apprentice take and what qualification will the apprentice get at the end?
- As an Insurance Practitioner Apprentice with BPP, you will complete the Insurance Practitioner level 3 Advanced Apprenticeship
- This apprenticeship is aligned to the Chartered Insurance Institute (CII) and uses an innovative and flexible approach to demonstrating competency in the workplace
- Completion of the apprenticeship will result in the awarding of the CII Certificate (IF1/ IF2 and choice of IF3/ 4/ 10)
What is the expected career progression after this apprenticeship?
- Once you’ve successfully completed the AIG Advance programme, you will have the opportunity to transition into the next stage of your career pathway within AIG
- Further, AIG will continue to invest in your learning advancement by funding your Level 4 – Insurance Professional (CII – Diploma) apprenticeship
Requirements and prospects
Desired skills and personal qualities
Qualifications
A Level or equivalent Any (Grade CCC or above - 96 UCAS points) Essential
About the employer
Employer
AMERICAN INTERNATIONAL GROUP UK LIMITED
Address
The Aig Building 58 Fenchurch Street
London
EC3M 4AB
Training
Apprenticeship standard
Insurance practitioner
Level 3 (A level)
Employer's Application Instructions
Please ensure that you apply for the position as soon as possible to avoid disappointment. The closing date is a rough guideline as to when an advert will close. The advert may close before the given closing date if the employer has filled the position(s). BPP have a dedicated team who support students with disabilities, learning difficulties, health conditions and wellbeing. Please contact us at apprenticeshipapplications@bpp.com if you have any queries or would like more details.
This apprenticeship requires you to apply through the employer's website.
Apply nowClosing date: 21 Jun 2023