Thurs,june26 900am-aig keynote

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  • 1. 2 Cautionary Statement Regarding Forward-Looking Information This document and the remarks made within this presentation may include, and officers and representatives of American International Group, Inc. (AIG) may from time to time make, projections, goals, assumptions and statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These projections, goals, assumptions and statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. These projections, goals, assumptions and statements include statements preceded by, followed by or including words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “view,” “target” or “estimate”. It is possible that AIG’s actual results and financial condition will differ, possibly materially, from the results and financial condition indicated in these projections, goals, assumptions and statements. Factors that could cause AIG’s actual results to differ, possibly materially, from those in the specific projections, goals, assumptions and statements include: changes in market conditions; the occurrence of catastrophic events, both natural and man-made; significant legal proceedings; the timing and applicable requirements of any new regulatory framework to which AIG is subject as a non-bank systemically important financial institution and as a global systemically important insurer; concentrations in AIG’s investment portfolios; actions by credit rating agencies; judgments concerning casualty insurance underwriting and insurance liabilities; judgments concerning the recognition of deferred tax assets; and such other factors discussed in Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) in AIG’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014 and in Part I, Item 1A. Risk Factors and Part II, Item 7. MD&A in AIG’s Annual Report on Form 10- K for the fiscal year ended December 31, 2013. AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions or other statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.
  • 2. 3 The World of
  • 3. 4 Our Future and Focus We’ll be there when our customers need us, helping them recover and realize their idea of a better tomorrow.
  • 4. 5 We live in a world of profound change... Over 90% of the world’s data was created in the last 2 years
  • 5. 6 AIG’s Global Transformation has... NEW HUMAN CAPITAL STRUCTURE NEW PROCESSES & TECHNOLOGY NEW SCIENCE & ANALYTICS Similar as they need to be, different as they have to be Standardization is not mutually exclusive of customization
  • 6. 7 The model has changed CUSTOMIZATION STANDARDIZATION REGION COUNTRY LOB GLOBAL LOB COUNTRY
  • 7. 8 Segmentation, matching severity with expertise, drives value CASUALTY EXPRESS MAJOR COMPLEX Multiple LOB
  • 8. 9 We run a factory of decision makers TIME EXPRESS COMPLEX MAJOR
  • 9. 10 AIG’s Global Transformation has... NEW HUMAN CAPITAL STRUCTURE NEW PROCESSES & TECHNOLOGY NEW SCIENCE & ANALYTICS
  • 10. 11 Pivotal role of the Claims Adjuster Managing loss costs and providing feedback FRAUD MED  MGT SUBRO LIT  MGMT SALES U/W CUSTOMER ACTUARIAL CLAIMS ADJUSTER
  • 11. 12 Expanding Shared Services Right Skill in the Right Place 2500 724 1652 2000 2000 0 2,000 4,000 6,000 8,000 10,000 2015 2014 2013 2012 < 2011 Claims and O&S employees transitioning to Shared Services
  • 12. 13
  • 13. 14 AIG’s Global Transformation has... NEW HUMAN CAPITAL STRUCTURE NEW PROCESSES & TECHNOLOGY NEW SCIENCE & ANALYTICS
  • 14. 15 Using Science and analytics to better understand claims Severity Modeling Adjuster Performance AIG WayLeakage Prevention
  • 15. 16 Claims Triage Model Mitigate risk, get people healthier, faster Route complex cases appropriately Identify dynamic pathways early INDEXED AVERAGE CLAIM COST ~57% of costs Less than 2% of costs
  • 16. 17 Fraud Analytical Platform Model Referrals to Recovery PREDICTIVE MODELS MACHINE LEARNING LINK ANALYSIS PATTERN ANALYSIS RULE ENGINE/DECISION TREE EXTERNAL DATA WORKERS COMP FRAUD MODEL REFERRAL PERFORMANCE (HIT RATE) Claim
  • 17. 18 Transformation manifests externally long after felt internally IDEATIONIDEATION PROTOTYPEPROTOTYPE IMPLEMENTATIONIMPLEMENTATION EXECUTIONEXECUTION RESULTSRESULTS TIME