The American International Group Inc. (AIG), founded in 1919 with its headquarters in New York, United States of America, is an international insurance corporation with millions of customers worldwide.
The company is a composite insurance business i.e. it operates both life and non-life insurance businesses with its three main businesses as United Guaranty Corporation (UGC), AIG life and retirement, and AIG property casualty.
AIG also participates in indirect investments, retained interests, and capital market operations. The company employs over 64,000 people in 90 countries, has over 88 million customers, and is ranked the seventh-largest in the world.
AIG Online at AIG.com
The official AIG website is www.aig.com and users can click this link to get more detail. www.aig.com/about-us/contact-us it will give information about the company, its products, and services, its investors, employment information, AIG location, among others.
HISTORY AIG INSURANCE
AIG, originally known as American Asiatic Underwriters (AAU), was founded in Shanghai, China by Cornelius Vander Starr who also, later founded other insurance businesses in other parts of the world like Malaysia, Japan, Germany, Italy, united kingdom, etc.
In 1967, American International Group, Inc. (AIG) was incorporated to unify all the insurance businesses established by Cornelius Vander Starr.
In 1984, AIG listed its shares on the New York Stock Exchange (NYSE). All through 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.
From the early 2000s to the present, AIG has grown and expanded exponentially despite some of the financial setbacks it experienced.
AIG PRODUCTS AND SERVICES (AIG Life Insurance | AIG Auto Insurance and more)
AIG provides different products to meet both individual and group needs. The products available for individuals are:
- AIG Life insurance: term, endowment and whole life insurance policies for individuals
- AIG direct: to provide suretyships and trusteeship for the insured to protect the financial future of the insured’s family.
- AIG Travel Insurance: provides cover for valuables, trip cancellations, medical expenses, emergency travel services, and more.
- AIG Auto insurance is still available for the user.
- AIG Home protection plan: to provide cover for damages caused by fire, flood, and other accidents. It also covers the cost of repairing and/or replacing home equipment.
The company also provides the following products for groups:
- Core Benefit Solutions: including employee assistance program, enrollment solutions, travel assistance services, term life, AD&D, STD, and LTD, leave management
- AIG Voluntary Benefit Solutions: accident, critical illness, hospital indemnity, life insurance (personal, term and universal), home protection, enrollment solutions
- AIG Higher Education Solutions: college accident and sickness (including student coverage abroad), mandatory accident, intercollegiate sports, accident coverage, online waiver, verification system, interpreter service, online custom reports for school administrators
- Affinity Solutions: term life, AD&D, STD and LTD, business overhead expense, hospital indemnity, hospital accident, critical illness, cancer recovery, dental
- Stop Loss, Specified Disease organ transplant, and Captive Solutions: medical stop-loss, specified disease organ transplant, captive solutions, catastrophic medical management (MedCAT), Taft-Hartley solutions
- AIG Insurance for Corporate accident solutions: group personal accident (basic and voluntary AD&D), business travel accident and travel assistance services
Specialty Solutions: special risk/participant accident, K-12 student accident, complications of the surgery, volunteer fire, and travel accident.
Over the years, AIG has received several awards for its excellence in different categories. Some of these awards are:
- Business Insurance Innovation Awards; Insurer AIG has won this award for seven years straight.
- TravvyAwards; in 2016, AIG received 3 awards in 3 categories at the 2016 Travvy awards.
- CIO 100 Awards; AIG received an award in recognition of its innovative use of technology.
- Diversity Inc’s 25 Noteworthy Companies; For three years, Insurer AIG has earned a place on Diversity Inc’s 25 Noteworthy Companies for Diversity list. AIG earned this spot because it was considered a leader in leveraging diversity and fostering an inclusive environment.
AIG has also received other awards like the Insurance Insider Awards, Riskies Awards to mention but a few.