NEW YORK--(BUSINESS WIRE)--Jan. 6, 2016--
American International Group, Inc. (NYSE:AIG) today announced a
strategic investment in Human Condition Safety (HCS), an early-stage
technology startup company developing wearable devices, analytics, and
systems to improve worker safety. Terms of the deal were not disclosed.
AIG Commercial Insurance CEO Rob Schimek will discuss the HCS investment
at the Consumer Electronics Show in Las Vegas, Nevada, on Friday,
January 8, 2016, as part of a broader conversation about the Internet of
Things and the potential for disruptive innovations to make the world a
Human Condition Safety is creating tools that help workers, their
managers, and worksite owners prevent injuries before they happen.
Incorporating wearable devices, artificial intelligence, building
information modeling, and cloud computing, the product and service
offering is designed for industries that hold the highest risk for
workers, including manufacturing, energy, warehousing and distribution,
“AIG’s embrace of innovative, disruptive technologies is opening new
ways for us to strategically partner with our clients,” said Mr.
Schimek. “In this case, the technology from HCS will help enable us to
work with clients to make their worksites safer places for their
employees and help reduce our clients’ overall cost of risk. We will
continue to look for more opportunities with firms like HCS that set the
pace for mitigating and managing risks in ways unthinkable just a few
In collaboration with key strategic partners including AIG, HCS is
conducting a set of pilots to demonstrate how its proprietary technology
creates measureable improvements to reduce the frequency and severity of
Peter E. Raymond, CEO of HCS, said, “It’s not acceptable that we can
push a button and have anything in the world delivered to our doorstep,
but that people can still get hurt and even die needlessly when they go
to work. With HCS tools, we leverage technology to keep people healthy
HCS is AIG’s latest investment in technology that supports data driven
approaches to partner with clients as they manage increasingly complex
risks. It follows an initial $4 million investment with Clemson
University to develop a risk engineering and analytics center to enhance
the understanding of risk and ways to mitigate it, as well as a
substantial investment in the build out of AIG’s global risk engineering
For more information, visit: www.aig.com/innovativetech.
About Human Condition Safety
Human Condition Safety (HCS) is a spin-out of Human Condition Labs, a
research and development lab that uses technology to create solutions
that have substantial and positive social impact. HCS’s
technology--including wearable devices, artificial intelligence,
building information modeling and cloud computing--creates an ecosystem
that keeps workers safer in the industries in which they face the most
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
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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.
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Source: American International Group, Inc.
American International Group, Inc.