AIG Expands Presence in Chinese-American Life Insurance Market

Focus is on agent recruitment, partner support and client service

HOUSTON--(BUSINESS WIRE)-- 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, visit www.aig.com/chinesejobs. 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 | YouTube: www.youtube.com/aig | Twitter: @aiginsurance | LinkedIn: http://www.linkedin.com/company/aig |

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/

AIG’s Life Insurance Division
Stasa Cushman, 713-831-6414
[email protected]

Source: American International Group, Inc.

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