1). What's your job about?
I focus primarily on providing insurance solutions for risks associated with commercial directors and officers, professional indemnity and cyber.
Here’s an example of a product I might underwrite:
Let’s take company Y, it is a bank. A hacker penetrates Y’s IT defence systems and steals client information – names, addresses, TFNs, bank details, etc. The hacker sells this data and subsequently customers’ information is stolen and used to make various purchases. The customers sue Y for failure to protect their data. Y suffers from bad press and its reputation is severely affected. Cyber insurance can pay for defence costs and PR costs.
2). What's your background?
I’ve moved around. I was born and raised in Manila, Philippines. I finished secondary school in Singapore. Some important stages in my life would be moving halfway across the world on my own to College in Philadelphia, and moving again to Melbourne for work. I’ve lived in three continents in the last five years.
It all started with my decision to major in Risk Management & Insurance (RMI). My college, Temple University, is a target school for many insurers and brokers due to its nationally ranked RMI program. I interviewed for AIG’s summer internship and ultimately accepted an offer to intern in Singapore in 2013. Subsequently, I accepted a full-time offer to be a Cyber underwriter in Chicago as a part of AIG’s Global Analyst Graduate Program. After a year in Chicago, I accepted the offer to continue my career in Melbourne. I’ve been with AIG for two years spanning three countries so far and I definitely love the journey so far!
3). Could someone with a different background do your job?
Yes. Most people in the insurance industry will say that they “fell into it.” I believe it is more of an American concept to actually major in insurance. So definitely, if you have a knack for a career that balances quantitative and qualitative skills, look into a career in insurance!
Key characteristics/skills for my job:
4). What's the coolest thing about your job?
I love the people I work with. AIG is a great cultural fit for me because the people here are very driven and fast-paced. Furthermore, the employee diversity is amazing from a relationship perspective.
I am a huge fan of learning. In regards to my particular team, I get to learn about a wide range of different professions, such as engineers, real estate agents, architects and IT consultants. I also get to learn about the next generation of technology and crime as I underwrite cyber submissions.
5). What are the limitations of your job?
For me, underwriting requires a good balance of technical and people skills. You have to quantitatively assess a risk and then balance your presentation with qualitative skills. However, if you are the type that prefers a less interactive role, then underwriting is probably not for you. Underwriting entails negotiation which is not for everyone.
6). 3 pieces of advice for your teenage self...