“Diversity is who we are. It’s embedded in our workplace, in our clients, and in our vendors, not as an afterthought or a must-have but as a driver in our success. By cultivating and advancing supplier diversity, AIG opens itself to new opportunities that could not have been accessed before. Doing so fosters healthy competition, strengthens the communities we live in, and maximizes innovation on both sides of the negotiating table”
Peter Hancock, CEO, AIG
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.
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:
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:
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 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.
Link to the CVM Reporting tool here.