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Product Development
About Us

Overview
Idea Origination
Internal and External Partnership

Overview
New risks – and therefore, new opportunities – emerge daily. Today’s competitive, fast-paced environment demands rapid deployment of new products and services. AIG recognizes this business imperative and has established AIG Product Development, General Insurance – a dedicated unit – to supplement the product development efforts throughout the organization and with external partners.

Wherever new risks emerge, AIG Product Development (AIGPD) is there. We see the opportunity that lies in a new or emerging issue and we are better equipped than ever before to partner with an agent, broker, risk manager, or internal business unit to identify and analyze opportunities, craft solutions, and implement products that meet market needs with precision. Results-oriented, experienced, and market-driven, we are ready to help you stay ahead of the competition and at the forefront of the marketplace.

Rely on AIGPD to help you through every step of creating, developing, and implementing a new product.
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Idea Origination
Ideas for a new product may come from a headline, a personal experience, or an off-hand comment. Since there is no single source for the next big product, AIG Product Development is receptive to your new ideas. Two key thresholds help determine whether an idea is viable: is it within the scope of the operating company’s charter, and is there a critical mass in the targeted segment? Answering these two key questions will help maximize a new idea’s best chance for success and make optimal use of AIG’s product development resources. Reaching consensus on these issues is a dynamic process. The vigorous exchange of opinions and impressions is the foundation of AIG Product Development’s challenging work environment.
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Internal and External Partnership
AIG business units and external partners are encouraged to participate early in the development of a new product. Key executives and managers receive updated product descriptions from AIG Product Development (AIGPD) to elicit their suggestions and insight to their markets. We maintain an active flow of communication with business partners worldwide to assure a productive dialogue on new product opportunities.

Once a partner commits to a particular product, AIGPD customizes it to their specific needs and works with them all the way through to post-launch analysis. To deepen our relationships and maximize our productivity, both our domestic and international companies have appointed liaisons to work with AIGPD. These contacts enable us to access our entire international network to better understand and address insurance needs worldwide.

Partner involvement is critical to the success of a new product. AIGPD routinely engages diverse groups, such as the Office of the Customer, Corporate Research & Development, Claims, Corporate Training & Development, Corporate eBusiness, and The AIG Insurance School. We regularly negotiate partnerships among business units, divisions, and companies, from the home office to the regions, to maximize the expertise and capabilities of these units in bringing a new product to market. Complementary services from independent consulting firms and other service providers are often incorporated to support new products.

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AIG Product Development has been featured in Business Insurance. For Ty Sagalow's interview, click here.