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 now

Closing 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

Communication skills, Organisation skills, Analytical skills, Team working

Qualifications

GCSE or equivalent 5 including English & Maths (Grade 4 or C and above) Essential
A Level or equivalent Any (Grade CCC or above - 96 UCAS points) Essential

About the employer

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets and manage risks. We’re also committed to making a positive difference for our colleagues and in the communities where we work and live. We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.

Employer

AMERICAN INTERNATIONAL GROUP UK LIMITED

Address

The Aig Building 58 Fenchurch Street

London

EC3M 4AB

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Training

Training provider

BPP PROFESSIONAL EDUCATION LIMITED

Contact

Sally Collins

recruitmentsally@bpp.com

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 now

Closing date: 21 Jun 2023