|AIG INTERNATIONAL SERVICES, INC. AND T.T. ENTERPRISES TO MARKET RELOCATION ASSISTANCE SERVICES TO INDIAN NATIONALS|
NEW YORK, Nov 10, 2004 -- AIG International Services, Inc. (AIGIS), a member company of American International Group, Inc. (AIG), and T.T. Enterprises Private Ltd. of Bangalore, India today announced an agreement to market Worldwide Support Membership Programs to Indian nationals traveling to the United States for school or relocating for professional employment. The membership programs, which offer relocation and travel assistance products and services, will be available in the Indian marketplace beginning in January 2005.
Individuals who enroll in the membership programs will automatically receive a variety of insurance benefits at varying levels of coverage. Benefits include*: Medical Evacuation coverage, Repatriation of Remains coverage and Personal Internet Identity Theft coverage. Non-insurance benefits include 24-hour emergency translation services, dependent care searches, guidance in acquiring a U.S. driver's license and assistance in obtaining automobile registration and a Social Security card.
As part of the programs, members can also apply for additional insurance coverages and relocation support services, including Accident & Sickness Medical Insurance, Automobile Insurance, Personal Umbrella Liability coverage, U.S. Homeowners or Personal Property & Effects coverage, Life Insurance, Identity Guard credit protection and car rental or leasing programs with emergency roadside assistance.
According to the U.S. Department of State, more than 500,000 people came to the United States from India in 2002 for professional relocation, education or personal travel purposes. The number of Indian nationals traveling to the United States in these categories rose to more than 530,000 in 2003.(1)
"There is a thriving and viable market for these services among Indian students and business executives," said Nicholas C. Walsh, President and Chief Executive Officer, American International Underwriters. "However, there is a need for packaged solutions that proactively address the challenging aspects of international travel and professional relocation. Our relationship with T.T. Enterprises will enable the delivery of a comprehensive program that addresses these issues in order to help ease what is often a difficult transition for students and professionals alike."
Commenting on the agreement, Mr. Arun Vasu, Director of T.T. Enterprises said, "T.T. Enterprises has positioned itself as a premier supplier of various travel related services. By virtue of our 20-year association with large corporations and individuals, we are in a strong position to market Worldwide Support Membership Programs through our network of 12 offices and 2,300 travel/cargo agents across the country. I am very proud of the new relationship between AIGIS and TT Enterprises, as AIGIS' unique products will provide significant value to the traveling public."
For more information on the Worldwide Support Membership Programs, please call Shoba Murali, President - International Services Division, T.T. Enterprises Private Ltd., 203-226-8690 or Jennifer Hillis, Vice President of Sales, AIG International Services, Inc., 415-836-2840.
AIG is the world's leading international insurance and financial services organization, with operations in approximately 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.
T.T. Enterprises Private Limited is a member of the TTK Group, a 76-year old trusted business house in India. The Group has 37 factories, 12,000 employees and 45 offices across India, and in excess of 3,000 distributors. TT Enterprises was started in 1984 as GSA for British Airways and has since grown to handle cargo and travel related businesses, assisting over 2,300 travel/cargo agents throughout India.
* Insurance is underwritten by member companies of American International Group, Inc. and is subject to underwriting review and approval. Coverage may not be available in all regions. Non-insurance products may be provided through independent third parties.
(1) U.S. State Department website reports - http://uscis.gov/graphics/shared/aboutus/statistics/Nonimms.htm
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