Thread regarding AIG (American Intl Group Inc.) layoffs

Underwriting layoffs?

Are there ever layoffs in underwriting? Or is it pretty stable for the most part. Also how are the raises/promotions in UW?

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Post ID: @OP+1eBCNz8I

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I swear i witnessed a promotion of this one worker TWO TIMES IN 6 MONTHS cause they’ve been friends with upper management.. i don’t know why i even try. I’m gonna just end up not getting promoted and a BS raise. I’m out after March

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Post ID: @3rio+1eBCNz8I

The prior posts seems to suggest underwriters are exempt from layoffs. While they are agency facing roles and less prone to layoff, they do happen. Most likely to occur during periods of transition. 22' will definitely be a transition year with new technology and books of business that are being reprofiled. Do your due diligence and research. Look at Insurance Journal, The Insurer articles from 2021.

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Post ID: @3nhq+1eBCNz8I

prior post is spot on. another veteran here, i have worked with great underwriters that have been in the same position for years. i have worked with terrible underwriters that have been in the same position for years.

you never get rif'ed or even fired unless you are really, really bad. what happens is management consistently promotes their friends above long term aig employees and underwriters leave because they realize their job is a dead end and their moral is crushed.

like most other positions that aren't "connected" at aig, the year end compensation for a terrible employee versus a great employee is a few percentage points so there really is no reason to over achieve. no career advancement, no decent raises, unfair hiring practices all equal mediocrity at the customer level. gee, i wonder why aig can't make money?

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Post ID: @2kvk+1eBCNz8I

As a veteran at AIG.. let me tell you folks why you even work here. You come to AIG as either one of your early career moves (college grad trying to get some experience) or late career moves (promotional management role / leadership).. those who come here in the middle or play the long term game are doomed. AIG DOES NOT promote growth. You either learn some skills and leave or come in with a set of skills and get compensated well for it. Trust me. I learned the hard way.

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Post ID: @jmx+1eBCNz8I

I wouldn’t worry about getting laid off as an UW. UW’s = cash cow. Unless you are an absolute terrible UW.. and I really mean, you have to voluntarily try your hardest to be bad as an UW. Just don’t expect promotions.. if you want a steady paycheck, you should be fine. If you want promotions.. good luck. The hardest worker gets as much recognition as the worst worker = maybe a 3% raise if you’re lucky. Get some experience here and then get your promotion by getting a new job at another carrier / company. With inflation being 6+%, id be interested to see if they match that or even give raises at all

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Post ID: @nbd+1eBCNz8I

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