AIG Expands Presence in Chinese-American Life Insurance Market
July 16 2015 - 9:03AM
Business Wire
Focus is on agent recruitment, partner support and client
service
American International Group, Inc. (NYSE: AIG), the global
insurance organization that traces its roots back to the
establishment of a small insurance agency in China nearly a century
ago, has launched a sweeping initiative to expand access to life
insurance for Chinese-American consumers in the United States. As
part of AIG’s blueprint for building further on the transformative
growth strategy announced in 2014 for its product distribution
network, the carrier has begun recruiting several hundred
additional life insurance agents to address the needs of
Chinese-Americans and is implementing an array of other measures to
augment its service to them.
“The expansion of our presence in the Chinese-American market in
the U.S. encompasses a broad range of initiatives,” said John
Deremo, Executive Vice President and Chief Distribution Officer,
Life Insurance, AIG Financial Distributors. “We’re focused not only
on recruiting agents from within the target market and exploring
business opportunities with premier Chinese-American financial
services professionals, but also on steps such as enhancing our
in-language case management and underwriting capabilities,
continuing to foster a culturally sensitive work environment, and
creating a concierge-level customer support center for policy
holders and clients that’s staffed with employees fluent in
Mandarin, Cantonese or both.”
AIG’s research indicates Chinese consumers value permanent life
insurance. The carrier believes its Quality of Life ... Insurance®
product suite – known as “life insurance you don’t have to die to
use” and centered on flexible solutions designed to address
multiple consumer needs – resonates strongly in the
Chinese-American market.
“The Chinese-American market has proven to be an exciting area
of growth for AIG Financial Network and AIG Partners Group, two of
our key distribution channels,” Deremo said. “In this market,
agents and consumers alike have a long and favorable association
with AIG based on our roots in China, which began with the opening
of a two-room agency in Shanghai in 1919.”
The Chinese-American market already accounts for a significant
percentage of AIG’s U.S. life business. With the opportunity to
build on this success, AIG is making tactical investments to serve
this community better than ever before.
“Later this summer, we will announce the opening of our
prototype AIG Financial Network office that is specifically
designed in consideration of the Chinese-American consumer,” Deremo
said. “This office, which will be in Pasadena, California, will
feature a tea room with round tables for conversation, Asian
photography, and Chinese signage.”
The leadership team focused on meeting the life insurance needs
of the Chinese-American community includes AIG Financial Network’s
Elaine Liu, Vice President and Chief Marketing Officer, Asian
Markets, and Joe Kuo, Vice President and National Sales Director,
Asian Markets. Liu has a wealth of expertise in the Chinese market,
including formerly serving as Senior Manager of MetLife’s Diverse
Markets team; helping U.S. corporations grow their efforts in
diverse markets as Marketing and Media Director for Ethnicom Group,
a multicultural promotion agency; and serving as the personal
director and translator to the former Premier of China, Li
Peng.
Kuo has abundant key experience as well, most recently serving
as Vice President of Advanced Markets for AIG, and previously as
Executive Director for MetLife/New England Financial Group, where
he designed and implemented the firm’s recruiting and training
program for Asian financial advisors and managers.
For more information about opportunities with AIG Financial
Network, visit www.aig.com/chinesejobs. For more details on AIG,
visit www.aig.com.
AIG Financial Network includes the employee agents of American
General Life Insurance Company (AGL), a member of American
International Group, Inc. (AIG). Policies and annuities are issued
by AGL, which is responsible for financial obligations of insurance
products.
AIG is a leading international insurance organization serving
customers in more than 100 countries and jurisdictions. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty
networks of any insurer. In addition, AIG companies are leading
providers of life insurance and retirement services in the United
States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @aiginsurance | LinkedIn:
http://www.linkedin.com/company/aig |
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150716005021/en/
AIG’s Life Insurance DivisionStasa Cushman,
713-831-6414stasa.cushman@aig.com
American (NYSE:AIG)
Historical Stock Chart
From Mar 2024 to Apr 2024
American (NYSE:AIG)
Historical Stock Chart
From Apr 2023 to Apr 2024