NEW YORK--(BUSINESS WIRE)--May 19, 2015--
American International Group, Inc. today was named a 2015 “ACC Value
Champion” by The Association of Corporate Counsel (ACC) for leveraging
its Global Legal Operations Center to deploy large scale, innovative
programs that promote consistent achievement of the best legal outcomes
at the most compelling overall value. These programs harness analytics,
innovative law firm and vendor management processes, and competitively
sourced alternative fee arrangements in support of the legal needs of
AIG’s insurance clients as well as its corporate legal functions.
Overall, the programs generated over $200 million in benefits in 2014
alone, while deploying sophisticated analytics to avoid negatively
impacting legal outcomes.
A component of the ACC Value Challenge, which promotes reconnecting the
cost and value of legal services, the ACC “Value Champions” initiative
recognized AIG as one of 12 companies and collaborations that delivered
substantial value by better managing costs, improving predictability and
achieving better legal outcomes.
“We commend AIG for being champions of change in the legal industry,”
said Veta T. Richardson, president and CEO of ACC. “This year, we were
especially impressed by the scope of the value initiatives. The 2015 ACC
Value Champions employed several value tactics simultaneously – pursuing
multifaceted programs that encompass outside counsel relationships,
internal process improvement and innovations in technology –
accomplishing extraordinary results.”
“We are truly honored to be recognized by the ACC among such a large and
accomplished group of nominees,” said Thomas A. Russo, Executive Vice
President and General Counsel of AIG. “AIG’s Legal Operations Center has
demonstrated that, by leveraging data, process innovations and strategic
partnerships, it’s possible to both greatly enhance value in legal
services and consistently obtain the best legal outcomes. We’re very
proud of the remarkable accomplishments by the Legal Operations Center
and their internal and external partners.”
ACC received 80 nominations from law departments and law firms from
November 2014 through February 2015. The complete list of the 2015 ACC
“Value Champions,” along with additional details related to the AIG
submission, can be viewed online at: www.acc.com/valuechampions.
American International Group, Inc. (AIG) is a leading global 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/20150519006339/en/
Source: American International Group, Inc.
Liz Werner, 212-770-7074
Hendricks Sullivan, 212-770-3141