|AIG'S AMERICAN INTERNATIONAL COMPANIES INTRODUCE|
NEW YORK, August 23, 1999 - American International Group, Inc. (AIG) has announced that the American International Companies have introduced AIG eWriter, a web based system that provides eligible brokers with the ability to quote and bind select coverages for qualified mid-sized accounts via the AccessAIG (http://access.aig.com) web site. AIG eWriter will allow brokers, via the Internet, to reserve accounts, qualify prospects, automatically generate a quote indication and indication letter, view detailed product information, and view and print policies and applications.
"As the Internet is increasingly being accepted by the insurance community, there is great potential to apply the medium to insurance transactions between broker, client and insurer," said John Cavoores, President, National Union Fire Insurance Company of Pittsburgh, Pa., an AIG member company. "AIG eWriter furthers the informational and account management benefits brokers are already experiencing through AccessAIG by allowing them to provide their mid-sized clients with market leading coverages faster and more efficiently than ever."
Initially, AIG eWriter can be utilized to bind three management liability coverages designed for new, mid-sized accounts. Additional coverages will be available in the future, as well as renewal processing. Current coverages available include: PrivateEdgeSM, directors, officers, and private company liability and employment practices liability insurance coverage for private, mid-sized businesses; Not-for-Profit ProtectorSM, directors and officers, and employment practices liability insurance coverage for not-for-profit organizations; and Fidelity FlashquoteSM, employee dishonesty coverage that can be tailored to an insured's specific needs.
AIG eWriter can be accessed through AccessAIG, by brokers and agents, with a user ID and password. AccessAIG is an Internet Web site specifically designed for insurance brokers that provides detailed product information and enables brokers, via e-mail, to contact local AIG representatives and communicate and maintain policy information.
AIG is the leading U.S.-based international insurance organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial lines insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services and investment management businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland, and Tokyo.
* The above described coverage may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions and exclusions. Note that certain terms used in the above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting.