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Supplier Diversity

Overview

It is AIG’s policy to proactively seek out diverse-owned enterprises and ensure opportunities for these businesses to participate in the bidding and procurement process. Supplier Diversity is a strategic business initiative, aligned with the goals of AIG Global Sourcing & Procurement Services (GS&PS).

AIG’s commitment to Supplier Diversity is grounded in sound business strategy. The utilization of diverse suppliers provides AIG access to the widest possible selection of qualified suppliers, innovative solutions and is a driver of our cost reduction efforts. Engaging economically with diverse- owned businesses demonstrates the company’s resolve to support the growth of the communities in which it conducts business.

Read AIG’s full Supplier Diversity Policy here.

AIG Supplier Diversity works closely with both GS&PS commodity managers and internal customers across the organization to proactively identify procurement opportunities and match those opportunities to diverse suppliers who can meet AIG’s requirements for cost, service and scale.

Definitions/Certification

Diverse-Owned businesses are defined as U.S.-based, for-profit enterprises that are at least 51% owned and operated by one of the following groups:

  • Minority
    • African-American
    • Latino/Hispanic (origins from Mexico, Central and South America or the Spanish speaking countries of the Caribbean basin)
    • Asian (includes Asian Indian)
    • Native Pacific Islander, Eskimo
    • Native American (includes Native Pacific Islander, Eskimo) Women
  • LGBT (Lesbian, Gay, Bisexual, Transgender) 
  • Veteran

AIG requires that all diverse-owned businesses provide certification of their diverse-ownership status through a third-party agency. AIG recognizes certifications from the following organizations/entities:

  • National Minority Supplier Development Council
  • Women’s Business Enterprise National Council
  • National Gay and Lesbian Chamber of Commerce
  • Association for Service Disabled Veterans (or form DD-214)
  • State, Federal and Municipal governments

Registering with AIG as a diverse-owned business

Prospective diverse suppliers are asked to register with the company at Supplier Registration.  The benefits of registering with AIG include priority consideration for first tier opportunities, preferred consideration for in house matchmaking events, and visibility to AIG procurement personnel, and more.

Completion of the registration process does not guarantee that a company will receive a contract or request to bid, nor does it confer any preferred supplier status. Information provided will be treated in a confidential manner and will be subject to all reasonable safeguards against disclosure.

Tier 2 Spend

What is Tier 2 Spend?

Tier 2 spend consists of payments made to minority or non-ethnic women owned businesses for the purchase of goods and services, used directly or indirectly, in support of a majority supplier.

Tier 2 Reporting Instructions

  • Report direct spend by supplier for the period which has just ended. Typically, the reporting period will begin on the first business day after the end of each quarter. You will have approximately four weeks to report your diverse business spending.
    • Remember to include any diverse spending your company may have in Puerto Rico
  • Direct Dollars - Dollars that are direct to the product or service provided by the company.
  • Indirect Dollars - Dollars that the supplier will estimate based on the percentage of business they receive from the company.
    • Keep in mind any indirect spend with MWBE suppliers will be reported by ethnic /diversity categories and any direct spend reporting will be by specific diverse suppliers.

Link to the CVM Reporting tool here.

Contact

For any questions about the program or the registration process, please contact us.