Helping companies confidently manage cross-border risks

Doing business around the world has become increasingly complex, and multinational companies need to consider a wide range of laws, policies, and other macroeconomic factors, now and in the years ahead.

“The world is an ever-changing place at the moment,” says Jill Dixon, who leads the global operations of AIG’s multinational business.

“Our clients are having to think about how they spend their resources and their attention monitoring these changes, whether it’s coverage changes or tax changes.”

As the unit’s Chief Operating Officer, Jill and her team work closely with AIG’s multinational intelligence team, product managers and regional leaders to help brokers and clients manage business risks across multiple countries and territories in the most effective way. This is more important than ever, given today’s ongoing changes in regulations, geopolitical tensions, and other uncertainties weighing on markets around the world.

Utilizing data and various technologies, Jill and her team are developing different tools to empower clients with in-depth insights into their businesses and industries – ultimately helping them make informed strategic decisions about the future of their companies’ growth. This includes providing bespoke and tailored client reporting, such as the AIG Multinational Client Brief, to align timelines and accountabilities, program structuring rationale, compliance considerations, territorial analysis, and key documentation requirements. 

“Our goal is to help clients, so that they can focus their attention on running their businesses and their own customer experiences,” Jill says.

Helping brokers and clients manage risks across multiple countries and territories

Currently, AIG has a network of “intelligence champions” on the ground in more than 200 countries and territories. They monitor new and emerging regulations that could impact how companies do business, and this information is utilized by AIG’s underwriters as they set the terms and conditions for insurance policies issued across different regions.

And if there’s a change in local laws, for example, AIG’s underwriters receive an alert to reevaluate insurance policies issued.

“The situation we never want to get into is giving a client coverage where it’s not locally compliant,” Jill says. “Our trusted network helps assure that we have the latest information upfront as regulations could change.”

AIG’s underwriters also share this intelligence with brokers and clients. For example, if a company is looking to insure against cyber threats across multiple cities around the world, underwriters will assess the local legal requirements needed and any regulatory changes they anticipate – particularly as data privacy policies in the U.S., Europe and other parts of the world rapidly evolve.

Making it easier for brokers and clients to do business with AIG

To make it easier for brokers and clients to do business with AIG, the insurance organization is also taking steps to offer additional tools and programs tailored to their needs. For example, AIG’s multinational business will be refreshing and further enhancing its digital portal, making it even easier for clients and broker partners to access expanded features and information related to their insurance.

Reviewing an account across lines of business and tracking the real-time status of policies are particularly important to companies with operations across multiple cities and countries. Because multinational clients may have plants, offices, and other investments thousands of miles away from headquarters, the ability to easily check their insurance policies’ renewals, payments, loss runs, claims and other information in a single digital portal helps them manage risks more efficiently from afar. Therefore, AIG is consistently working to enhance the client and broker experience by upgrading features, using data as a strategic asset, and redesigning the user experience in myAIG’s single portal for brokers and clients to access at any time of day regardless of location.

“The goal is to help our clients and broker partners to be proactive versus reactive when managing risks around the world,” Jill says.

For example, enabling brokers and clients to access the status of a claim could help them manage potential risks and coverages that may have gone unnoticed. And by taking a historical view of claims filed over several years, AIG can equip clients with the data and tools needed to spot trends or gaps across their current insurance policies.

“We don’t want to be here to just cover clients in a time of need because they should be thinking beyond that,” Jill says.

In addition to the award-winning online training, Navigating Multinational Risks, AIG’s multinational business has also hosted several interactive training webinars for brokers over the past year to help deepen their understanding of their clients’ risks and potential solutions for them. Because AIG is continually developing new products and services, brokers may not be aware of all the risk solutions offered and that AIG can tailor solutions unique to their client’s specific business or industry needs.

“It’s not enough for a growing global company to reduce its day-to-day risks,” Jill says. “There may be many risks they’re not seeing today and at AIG we endeavor to inform clients about risks ahead and possible solutions to help them expand confidently for years to come.”