AIG Walkin Drive For Freshers On 8th July 2016

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AIG Walkins Drive For Freshers

Designation : Underwriting Analyst 
walkins 
No Of Positions :  Multiple 

Qualification :   Any Graduates

Also Read : More Graduates Jobs 

Experience : 0 - 2 Years

Location : Bangalore


Salary : As Per Industry

Industry:  Insurance

Functional Area: ITES, BPO, KPO, LPO, Customer Service, Operations

Job Description :
Prepare both new and existing account submissions and all required documentation for final underwriting review by the local office. Support the underwriting decision making process including the analysis of submissions, understanding major underlying assumptions and the decision making process and conclusions made by the local office. This includes the analysis of complex data from multiple sources including understanding Occupancy, Statement of Values, Natural Catastrophe footprint, loss runs, and engineering loss control reports, to create draft documents which will be used by the regional underwriting offices to make the final decisions of risk. Activities include but are not limited to:
Entry of accounts into global submission system, with follow up of any resultant issues
Review for completeness of submission from broker
Interpretation of submission information and online account information
File set-up on an electronic content management system using independent judgment in choosing correct classification of risk
Create Natural Catastrophe modeling requests, and review results for accuracy
Research and review of loss experience through the analysis of complex data originating from multiple sources
Through the fundamental knowledge of underwriting, create an initial version of the Line Setting Tool and Rater (pricing tool)
Provide the regional underwriter with the Account Prep package consisting of a Line Setting Tool, Rater, and draft Quotation.
Through the fundamental knowledge of underwriting language and terminology, load manuscript wording as needed into appropriate system and identify items requiring additional input or editing
As needed, arrange handoffs with Shared Services for clearance and policy creation, and serve as the point of contact for unresolved questions
Monitor progress of account and keep regional underwriter informed
Stay current on all AIG underwriting alerts and bulletins
Preparation of all documents in accordance within agreed service level standards
Continual dialogue with regional underwriters to develop understanding and resolve issues on individual accounts

Walk in Date: 8th Jul, 2016 (Friday) from 10:00 AM to 12:00 PM

Job Title: Underwriting Analyst

Eligibility: 2016 Graduates with 60% marks throughout

Job Timings: 6:30 PM to 3:30 AM (night shift)

Job Requirements:
College or University Degree, or its equivalent 2016 pass out. 60% and above.
Strong attention to detail and time management skills
Demonstrated ability to self-direct, prioritize work, and meet deadlines
Ability to build strong relationships
Intellectually curious
Demonstrated analytical and problem solving skills
Ability to collaborate in a team environment
Computer skills proficiency with Microsoft Office suite
Educational background in insurance, risk management or similar financial industries a strong plus
Excellent verbal and written communication skills English speaking required

Recruitment Process :
Interview

Also Read  : Interview Tips

Desired Profile :
UG - Any Graduate - Any Specialization
PG - Any Postgraduate - Any Specialization, Post Graduation Not Required
Doctorate - Any Doctorate - Any Specialization, Doctorate Not Required

Company Profile :
American International Group, Inc., also known as AIG, is an American multinational insurance corporation with more than 88 million customers in 130 countries. AIG companies employ over 64,000 people in 90 countries. The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC). AIG Property Casualty provides insurance products for commercial, institutional and individual customers. AIG Life and Retirement provides life insurance and retirement services in the United States. UGC focuses on mortgage guaranty insurance and mortgage insurance. AIG also focuses on global capital markets operations, direct investment and retained interests.
AIG was a central player in the financial crisis of 2008. It was bailed out by the federal government for $180 billion, and the government took control. The Financial Crisis Inquiry Commission (FCIC) of the US government concluded AIG failed primarily because it sold massive amounts of insurance without hedging its investment. Its enormous sales of credit default swaps were made without putting up initial collateral, setting aside capital reserves, or hedging its exposure — a profound failure in corporate governance, particularly its risk-management practices."
AIG's corporate headquarters are in New York City, its Europe, Middle East, and Africa (EMEA) headquarters are in London, and its Asian headquarters are in Hong Kong. The company serves 98% of the Fortune 500 companies, 96% of Fortune 1000, and 90% of Fortune Global 500, and insures 40% of Forbes 400 Richest Americans. AIG was ranked 40th largest company in the 2014 Fortune 500 list. According to the 2014 Forbes Global 2000 list, AIG is the 42nd-largest public company in the world. On March 31, 2015 AIG had a market capitalization of $75.04 billion.
AIG traces its roots back to 1919, when American Cornelius Vander Starr (1892-1968) established a general insurance agency, American Asiatic Underwriters (AAU), in Shanghai, China. Business grew rapidly, and two years later, Starr formed a life insurance operation. By the late 1920s, AAU had branches throughout China and Southeast Asia, including the Philippines, Indonesia, and Malaysia. In 1926, Mr. Starr opened his first office in the United States, American International Underwriters Corporation (AIU). He also focused on opportunities in Latin America and, in the late 1930s, AIU entered Havana, Cuba. The steady growth of the Latin American agencies proved significant as it would offset the decline in business from Asia due to the impending World War II. In 1939, Mr. Starr moved his headquarters from Shanghai, China, to New York City.
After World War II, American International Underwriters (AIU) entered Japan and Germany, to provide insurance for American military personnel. Throughout the late 1940s and early 1950s, AIU continued to expand in Europe, with offices opening in France, Italy, and the United Kingdom. In 1952, Mr. Starr began to focus on the American market by acquiring Globe & Rutgers Fire Insurance Company and its subsidiary, American Home Fire Assurance Company. By the end of the decade, C.V. Starr's general and life insurance organization included an extensive network of agents and offices in over 75 countries.
In 1960, C.V. Starr hired Maurice R. Greenberg to develop an international accident and health business. Two years later, Mr.Greenberg reorganized one of C.V. Starr’s U.S. holdings into a successful multiple line carrier. Greenberg focused on selling insurance through independent brokers rather than agents to eliminate agent salaries. Using brokers, AIU could price insurance according to its potential return even if it suffered decreased sales of certain products for great lengths of time with very little extra expense. In 1967, American International Group, Inc. (AIG) was incorporated as a unifying umbrella organization for most of C.V. Starr’s general and life insurance businesses. In 1968, Starr named Greenberg his successor. The company went public in 1969.
The 1970s presented many challenges for AIG as operations in the Middle East and Southeast Asia were curtailed or ceased altogether due to the changing political landscape. However, AIG continued to expand its markets by introducing specialized energy, transportation, and shipping products to serve the needs of niche industries. By 1979, with a growing workforce and a worldwide network of offices, AIG offered clients superior technical and risk management skills in an increasingly competitive marketplace.
During the 1980s, AIG continued expanding its market distribution and worldwide network by offering a wide range of specialized products, including pollution liability and political risk. In 1984, AIG listed its shares on the New York Stock Exchange (NYSE). Throughout the 1990s, AIG developed new sources of income through diverse investments, including the acquisition of International Lease Finance Corporation (ILFC), a provider of leased aircraft to the airline industry. In 1992, AIG received the first foreign insurance license granted in over 40 years by the Chinese government. Within the U.S., AIG acquired Sun America Inc. a retirement savings company, in 1999.

Martin J. Sullivan became CEO of the company. He began his career at AIG as a clerk in its London office in 1970. AIG then took on tens of billions of dollars of risk associated with mortgages. It insured tens of billions of dollars of derivatives against default, but did not purchase reinsurance to hedge that risk. Secondly, it used collateral on deposit to buy mortgage-backed securities. When losses hit the mortgage market in 2007-2008, AIG had to pay out insurance claims and also replace the losses in its collateral accounts.
AIG purchased the remaining 39% that it did not own of online auto insurance specialist 21st Century Insurance in 2007 for $749 million. With the failure of the parent company and the continuing recession in late 2008, AIG rebranded its insurance unit to 21st Century Insurance.
On June 11, 2008, three stockholders, collectively owning 4% of the outstanding stock of AIG, delivered a letter to the Board of Directors of AIG seeking to oust CEO Martin Sullivan and make certain other management and Board of Directors changes. This letter was the latest volley in what the Wall Street Journal called a "public spat" between the company's board and management, on the one hand, and its key stockholders, and former CEO Maurice Greenberg on the other hand.
On June 15, 2008, after disclosure of financial losses and subsequent to a falling stock price, Sullivan resigned and was replaced by Robert B. Willumstad, Chairman of the AIG Board of Directors since 2006. Willumstad was forced by the US government to step down and was replaced by Ed Liddy on September 17, 2008. AIG's board of directors named Bob Benmosche CEO on August 3, 2009 to replace Mr. Liddy, who earlier in the year announced his retirement. 


Apply Mode :   Walk in


Walk In Date : 8th July 2016

Walk In Time :  10:00 AM to 12:00 PM

Walk In Venue :
Abhijeet Bhattacharya
AIG Analytics & Services Private Limited
5th Floor, Crescent 4
Prestige Shantiniketan Whitefield
560 048,India BANGALORE

AIG Walkin Drive For Freshers On 8th July 2016 AIG Walkin Drive For Freshers On 8th July 2016 Reviewed by Ramesh Reddy on 03:10:00 Rating: 5
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