Jeffrey Wade
American International Group Inc. (AIG) is a multinational insurance company that offers a wide range of insurance products and services to businesses and individuals in more than 80 countries. AIG provides life insurance, property-casualty insurance, retirement products, and other financial services. The company has a strong presence in the United States and operates through two primary divisions: General Insurance and Life and Retirement. AIG's General Insurance division includes North America and International segments, offering products such as commercial auto, general liability, property, and workers' compensation insurance. The company also provides customised solutions for high-net-worth individuals and businesses through its Private Client Select Insurance Services LLC. With a focus on innovation and risk management, AIG has recovered from the 2008 financial crisis and continues to be a leading global provider of insurance, committed to making a positive impact in the communities it serves.
| Characteristics | Values |
|---|---|
| Type of Company | Multinational insurance company |
| Divisions | General Insurance, Life and Retirement |
| Operating Segments | North America, International |
| Insurance Offerings | Life insurance, property-casualty insurance, retirement products, travel insurance, liability insurance, financial lines insurance, global specialty insurance, accident and health insurance, professional liability insurance, cyber insurance, auto insurance, crime insurance, inland marine insurance, equipment breakdown insurance, umbrella insurance, aviation insurance, motorsports insurance, ski resorts insurance, welding supply distributors insurance, manufactured home communities insurance, recreational vehicle parks/destination resorts insurance, retail dealers of manufactured housing insurance, recreational unit dealers insurance, liquor liability insurance, sexual misconduct liability insurance, pollution liability insurance, political risk insurance |
| Other Offerings | Risk management solutions, workers' compensations, commercial umbrella, excess casualty solutions, surety and risk financing programs, multinational risk assessment training, risk management training |
| Countries Served | Over 80 countries |
| Revenue | $47.39 billion (2018) |
| Key People | Peter Zaffino (Chairman & CEO), Dennis Froneberg (Managing Director for the DACH region) |
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What You'll Learn
Life insurance
AIG, or American International Group, is a leading global insurance organization providing a wide range of insurance products and other financial services.
AIG offers life insurance solutions through Corebridge Financial, previously known as AIG Life & Retirement. Life insurance is a long-term agreement between an individual and an insurance company, providing financial protection and support for loved ones after the policyholder's death. AIG's life insurance products offer flexible coverage options, including customizable coverage, flexible term lengths, and affordable rates.
AIG's life insurance policies can provide peace of mind and financial security for individuals and their families. The policies offer guaranteed protection, helping cover funeral expenses, credit card bills, and other financial obligations that may be left behind. AIG's life insurance solutions also include options for building cash value over time, with tax-deferred growth, allowing individuals to access funds during their lifetime.
In addition to life insurance, AIG provides a broad range of insurance products, including property, casualty, accident, health, and travel insurance, as well as coverage for private clients. The company serves clients in over 200 countries and jurisdictions, offering risk management solutions and financial protection to both businesses and individuals.
With a commitment to making a positive impact in the communities it serves, AIG strives to be a leader in tackling global challenges and driving positive change.
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Property and casualty insurance
Property insurance deals with property losses, i.e., financial losses incurred due to damage or destruction of owned entities. This could include theft of valuable items or automobile damage caused by accidents. Casualty insurance, on the other hand, deals with legal liabilities and includes a wide range of unrelated insurance products. One of the most critical types of casualty insurance is liability insurance, which covers losses resulting from the insured individual's interactions with others or their property. For example, liability insurance would protect a driver who accidentally damaged a parked car from paying for the damages out of their pocket.
AIG, or American International Group, Inc., is a leading global insurance organization providing property and casualty insurance and other financial services. It offers a wide range of products, including Liability, Financial Lines, Property, Global Specialty, Personal Lines, and Accident and Health. AIG operates in over 200 countries and jurisdictions, serving both businesses and individuals.
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Travel insurance
AIG, or American International Group, is a leading global insurance organization that provides a wide range of insurance products and services to businesses and individuals in more than 200 countries.
One of the key insurance offerings from AIG is travel insurance, which is provided through their Travel Guard Group Inc. This travel insurance is designed to help individuals and companies manage the risks associated with travel, which have evolved over time.
AIG's travel insurance plans, offered by Travel Guard, are tailored to meet the specific needs of the customer, depending on their country of residence. These plans can cover trip cancellation, travel health insurance, and more. Coverage is available to residents of U.S. states and the District of Columbia, and the plans typically provide insurance only during the covered trip.
AIG's travel insurance solutions allow individuals to travel with greater peace of mind, knowing that they are protected against unforeseen events that may occur during their travels. The company encourages customers to compare coverage levels and pricing across their various travel insurance plans to find the one that best suits their needs.
In addition to travel insurance, AIG offers a comprehensive range of insurance products, including property, casualty, life, health, and accident insurance, among others.
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General liability insurance
AIG, or American International Group, is a leading global insurance organization that provides a wide range of property casualty insurance and other financial services.
AIG's general liability insurance covers a range of areas, including aerospace, commercial auto, property, and workers' compensation claims. Clients and brokers can file claims, manage risks, and access claims data from over 100 countries. They can also track the status of controlled master programs, view policy details, download policy documents, and access invoices.
In addition, AIG provides free, accredited online training in multinational risk assessment and program design. This training equips businesses with the knowledge and tools necessary to identify and mitigate potential risks effectively. By offering this training, AIG demonstrates its commitment to helping businesses proactively manage their risks and make informed decisions.
AIG's general liability insurance is designed to provide comprehensive protection for businesses, ensuring they can operate with peace of mind and focus on their core activities. With their expertise and global reach, AIG offers a valuable layer of security for businesses of all sizes, from small startups to large multinational corporations.
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Workers' compensation
American International Group, Inc. (AIG) is a global insurance organization that provides a wide range of property casualty insurance and other financial services. AIG offers various insurance products, including travel and personal accident insurance, and coverage for private clients.
One of the key offerings of AIG is Workers' Compensation insurance. This type of insurance is designed to protect both employers and employees in the event of a workplace injury or illness. With AIG's Workers' Compensation insurance, employers can access claim forms, claim reports, and information on claim status. They can also manage risks and access claims data from over 100 countries.
AIG's pre-injury consultants work with clients to create a safe workplace environment and facilitate the return of injured employees to work. The company also provides medical management programs to support and educate clients and employees before, during, and after an injury occurs.
AIG's global network enables them to mobilize claims experts from around the world promptly, ensuring that clients receive the necessary guidance and support to resolve their workers' compensation claims quickly. The company is committed to helping businesses and individuals navigate the challenges and risks they face, including those related to workplace injuries and illnesses.
In addition to Workers' Compensation insurance, AIG also offers other types of insurance, such as Aerospace, Commercial Auto, General Liability, and Property insurance. These insurance products provide comprehensive protection for businesses and individuals, demonstrating AIG's commitment to being a global leader in risk management and insurance solutions.
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Frequently asked questions
American International Group, Inc. (AIG) is a large multinational insurance company offering life insurance, property-casualty insurance, retirement products, and other financial services in over 80 countries.
AIG offers a wide range of insurance products, including life insurance, property-casualty insurance, travel insurance, workers' compensation insurance, general liability insurance, and more.
AIG was founded in 1919 by American Cornelius Vander Starr, who established a general insurance agency, American Asiatic Underwriters (AAU), in Shanghai, China. The business grew rapidly, and by the late 1920s, AAU had branches throughout China and Southeast Asia. In 1926, Starr opened his first office in the United States, the American International Underwriters Corporation (AIU).
AIG is known as a global leader in insurance and financial services, with a strong presence in over 200 countries. The company has a history of financial challenges, including during the 2008 financial crisis, but has since recovered its reputation and position as a solid global provider of insurance products.
AIG offers customized insurance solutions for individuals and families, designed to provide peace of mind and help them worry less. Their products include travel insurance, personal accident insurance, and private client insurance for high net-worth customers.
