Choreographing a global insurance programme across multiple geographies amidst changing regulations can be a complex process for multinational clients and brokers. With a hundred years of international growth and experience behind us, AIG have accumulated vast global knowledge of local markets, practices, regulations, tax concerns, exposures and coverage requirements. Our renowned multinational briefings for clients are built on these foundations of global knowledge and experience and inject clarity and understanding into clients’ multinational programmes, no matter how complex. Each client briefing document includes:
- The multinational programme’s geographical and policy structure and the essential local country policy requirements for each country and jurisdiction.
- A ‘proposed’ rationale behind the selection of where a local policy is required , based on local legislation, exposure values and other criterion that impact this ever present question. The proposal provides a basis for in-depth discussions between client, broker and insurer and leads to a multinational programme that is structured collaboratively and by informed decisions.
- The required documentary and regulatory requirements needed to issue a local policy. Being able to deliver this information up-front is a major benefit in terms of programme transparency and eases preparation, a key ingredient to the success of any multinational programmes.
- A powerful Timeline feature that displays the key milestones, roles, responsibilities and status from initial submission to quotation and bind. This enables everyone to clearly understand what needs to happen and who is responsible to ensure full contract certainty with all policy issuance before inception.
In summary, our multinational briefing enables sharper focus on planning responsibilities and timelines, clearer workflow and encourages communication and collaboration and as a result a far greater control over programme implementation. And after implementation, hundreds of dedicated multinational experts worldwide work with our global community of claims, analytics, risk engineers and underwriters to ensure compliant and seamless solutions to meet clients’ risk, governance and contract certainty objectives, whether they have exposures in two countries or a hundred.
Today the AIG global network supports clients’ local needs in over 215 countries and jurisdictions. Formed of strong local AIG operations and top tier local insurer network partners, we continue to enter new markets to meet our clients’ needs and can scale and flex as our multinational clients expand into new territories via growth or acquisition.
Our goal is to deliver maximum efficiency, contract certainty and optimum global program management, no matter how complex our clients’ needs, wherever in the world they might be.
As Stephen Morton, AIG Europe’s Head of Multinational commented “I have always said that two critical components of success for any multinational programme are ‘preparation’ and ‘collaboration’. AIG’s Multinational Client Brief is a first step and catalyst to both of these that enables client, broker and insurer to truly understand the programme objectives and ensure the optimal design and execution to achieve these. And for the doubters amongst you, I can categorically confirm that the once ‘nirvana’ of a multinational programme with all policies issued on or before inception exists today and will be ‘business as usual’ in the not too distant future”!