|AIG TECHNOLOGIES, INC. LAUNCHES WINS-R- NOW TO STREAMLINE INSURANCE PROCESSING FOR MANAGING GENERAL AGENTS AND SMALL PROPERTY-CASUALTY INSURERS|
NEW YORK--May 17, 2004--AIG Technologies, Inc. (AIGT), a member company of American International Group, Inc. (AIG), today announced the launch of WINS(R) Now, a web-based insurance processing system designed to streamline policy administration and increase speed to market for Managing General Agents (MGA) and small property-casualty companies, including start-up and virtual insurers.
WINS Now integrates policy administration, billing and claims management transactions to support more than 35 personal and commercial lines of business. Through an application hosting model that utilizes AIGT's data center facilities, the system can be implemented in as little as 60 to 90 days, enabling companies to gain operational capabilities quickly and bring lines of business to market faster.
"There is growing momentum in the MGA market and among small property-casualty insurers to deploy web-based applications to optimize workflow, productivity and performance," said Paul Madarasz, President of AIG Technologies. "WINS Now was created to help insurers meet and better react to today's technical and business demands, while satisfying insurance application processing requirements at lower operating costs."
Other key features and benefits of WINS Now include: -- Full policy administration, including quoting, rating, installment billing and policy issuance; -- Anytime, anywhere access for employees, agents and carriers; -- Customer Relationship Management, statistical and bureau reporting; and -- Utility model pricing structure with a minimal start-up investment.
AIGT will debut WINS Now at the annual meeting of the American Association of Managing General Agents (AAMGA), to be held from May 19-22 at the JW Marriott Desert Ridge Resort & Spa in Scottsdale, AZ. AIGT will exhibit at Booth #96.
To learn more about AIGT's products and services, please visit www.aigtechnologies.com, call (800)-788-0144 or e-mail firstname.lastname@example.org.
AIGT provides utility-based IT management solutions to the Fortune 2000. AIGT's insurance software division specializes in providing software solutions to the property-casualty insurance industry.
American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
CONTACT: American International Group, Inc. Andrew Silver, 212-770-3141 SOURCE: American International Group, Inc.