The company provides insurance coverage for a scientific expedition to the North Magnetic Pole aboard the ship, Monte Carlo. The 11-person crew faces many challenges on their way to the top of the world including strong storms and pack ice.
The Franklin Life Insurance Company (later acquired by AIG) is one of the first businesses in the U.S. to enter the computer age when it purchases a Universal Automatic Computer (UNIVAC). The computer performs a range of functions including premium billing, premium accounting, dividend accounting, agency commission accounting, and valuation of reserves. Experiencing phenomenal sales growth, Franklin Life management determines that new technology is necessary to keep up demand and future growth.
Operations begin in South Korea.