Focus is on agent recruitment, partner support and client service
HOUSTON--(BUSINESS WIRE)--Jul. 16, 2015--
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,
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
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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/
Source: American International Group, Inc.
AIG’s Life Insurance Division
Stasa Cushman, 713-831-6414