We are delighted to introduce the inaugural edition of Private Client Pulse, the internal bulletin for AIG Private Client Group staff in the U.S. and Canada. Here you will find pertinent updates from our functional leaders and also get to learn more about your coworkers. Special thanks to the PCG Employee Advisory Council for bringing this concept to life.
As I've shared with you previously, AIG Private Client Group has been named a priority growth area within Personal Insurance and the company as a whole. That belief in our business would not be possible without your focus, teamwork, and commitment to our brokers and customers. The road ahead will be challenging, but I can't wait to see what we accomplish together. Thank you for all that you do.
Kudos Corner is where we will recognize noteworthy career achievements and related milestones across our U.S. and Canada staff. If you would like to nominate yourself or a colleague to be recognized, please email PCG-EmployeeNews@aig.com. Considerations for publication include activities such as acquiring a professional designation or advanced educational degree, receiving a recent insurance industry award, accomplishing a significant philanthropic or charitable endeavor, or reaching a milestone (5-year, 10-year, etc.) AIG work anniversary.
Get to know your colleagues, including…
Tim is a Regional Underwriting Manager in the Western Zone for the Pacific Northwest states, a portion of Los Angeles, and the Phoenix Branch. He is one of the founding members of Private Client Group, having joined in 2001. That means he was here when dec pages were typed, hand-signed and mailed to brokers. Prior to joining AIG, Tim spent 16 years at Fireman’s Fund, beginning as an underwriting trainee. He and his wife, Kim, have two daughters named Rylie and Kailyn.
Two truths and a lie:
Based in New York, Anne is a Senior Risk Manager and a Technical Specialist for Water Damage Mitigation in the Loss Prevention Department. She has been a risk manager for 25 years, eight of which have been with us. Additionally, she is a certified Level 1 thermographer, which enables her to use a special camera to detect temperature changes behind walls (which could indicate leaks or electrical issues). Anne is part of a new loss prevention pilot program looking to provide an “Internet of Things” solution for mitigating water losses. And in keeping with the all things H20 themed, she and her family are avid skiers and sailors.
Two truths and a lie:
Samantha was a Marketing Manager with our Home Office Marketing team in New York City, where she co-managed the implementation and execution of our broker compensation program across the country*. A significant portion of her work included analyzing data and creating reports in support of the Field Sales staff in an effort to strengthen our broker relationships. Sam first came to us as a summer intern in 2008 and joined us full time in 2011. Last year she successfully acquired her Chartered Property Casualty Underwriter (CPCU) designation as well.
Two truths and a lie:
*Sam was recently promoted to a broader Personal Insurance role. We wish her the best of luck and thank her for her invaluable contributions to PCG.
Our FNOL call center sets the tone for exceptional service
Throughout the history of our business, we have maintained an AIG-run call center for incoming claims, which we refer to as “first notice of loss” (FNOL). When a client calls in, our licensed adjusters can look up policy information, explain the claims process, answer questions and even adjust the claim if it’s straightforward enough. However, after business hours or during peak times, an outside vendor steps in to capture basic information when our own team can’t be on the line. While efficient, this vendor cannot replicate the experience of working with our own staff.
To ensure that all clients get the best possible service at any time, we have established an FNOL call center in Stevens Point, WI. That is where AIG Travel maintains its state-of-the art call center operations, and we can now leverage those capabilities. Whether providing information on repair shops and water mitigation companies; setting up an auto or property rental; or processing small claims immediately, we hope to streamline the process and reduce the time it takes to settle each matter.
The Stevens Point team has been operating during normal business hours, supporting customers across AIG Private Client Group, including Premier. As of January 3, we have extended the hours to include evenings and weekends, and we are working toward being fully functional 24/7. We look forward to sharing our progress with you in the coming months.
Future progress begins with present-day analysis
Although PCG has always been customer-centric, there is more we can do to deepen our customer focus, increase loyalty and create the best possible experiences for everyone who engages with us. That can be a daunting task without a clear plan, so we have set out to make improvements in very specific ways.
Representative ways in which we are working to better understand and augment customer interactions include:
Results gleaned during journey mapping exercises and from the Voice of Producer surveys helped us identify:
These combined efforts served as inputs regarding processes, customer needs, improvement opportunities, and general perceptions of PCG. To turn the feedback into action, we established nine different work streams, appointed leaders and created action plans for each. Various improvement opportunities have already been addressed, and numerous others are in progress. Work streams include:
The hard work of these work streams is helping to ensure that PCG remains competitive and differentiated as customer expectations evolve, technology advances and the insurance landscape alters.
Strategic events connect us to key influencers
When promoting AIG Private Client Group, we often start by taking a step back and educating people on why personal risk management is relevant to them. To help get the word out more effectively, we regularly work with trusted referral sources, such as wealth managers, who have strong relationships with potential PCG customers.
With this approach in mind, we kicked off a new event series this past summer called “Women in Wealth.” We developed the series with three objectives in mind:
Our inaugural event was held at the Baccarat Hotel in New York City. We invited approximately 20 of PCG’s top female partner brokers in the area, along with several dozen other prominent women in high net worth financial services: financial advisors, wealth managers, CPA’s, family office managers and lawyers. The evening had a couture theme, enabling us to highlight our wearable collections coverage. In addition, attendees heard from a panel that included a marketing director from a major luxury fashion brand.
The event garnered exceptional feedback, and we have since hosted a second Women in Wealth event in Los Angeles.
National teams elevate our client support
The AIG Private Client Group Operations team, also known as “Client Services,” is comprised of employees across all three zones and is responsible for new business quoting, policy issuance, a contact center (handling both broker and policyholder calls) and a variety of post-bind transactions. Prior to 2016, the zonal teams worked independently when it came to servicing their respective customers. While everyone was working hard, this disconnected approach lessened our efficiency.
Beginning in 2016, we created national teams to further improve service. This shift enabled our teams to operate more cohesively as one unit across the country, allowing for greater consistency with regard to customer service. For example, during peak periods within an individual zone, we can now leverage the other two zones to pitch in and balance the workload across the country.
Here are some of the improvements seen through 2016:
The improvements listed above came at a time when New Business quote volume increased by 19% compared to 2015, and when call volume had increased by 47% over the same time period. By working together, we expect to make continued strides with our service quality across the board.
Making important strides to support our growth
Did you know that the Risk Management & Loss Prevention team visited more than 32,000 policyholders in 2016? That gave us more than 32,000 opportunities to make a good impression, establish a relationship, solve a problem, dispense advice or just put a face to AIG.
With 85 Risk Managers and Loss Prevention Specialists across the country, the team has expertise in high-end home construction and architecture; interior decorating and design; historic preservation; structure and wild land fire-fighting; engineering; art and collectibles; personal security; hurricanes; earthquakes; water damage…and more!
With our continued growth, Risk Management Services has seen a 40% increase in inspection requests. In order to continue to deliver a high level of service to our policyholders, we have added new field Risk Managers in Southern California, South Florida, New York City, Chicago and Boston; one new Platinum Advisor in New Jersey; one new Platinum Advisor in South Florida; and an additional Art Collection Manager in New York City.
Speaking of growth, we added more than 40 new Platinum Accounts in 2016, exceeding our already-stellar progress from 2015. And with a continued eye toward innovation, we are about to launch a new online alert application that will give appointed brokers personalized access to the intelligence center powering our Wildfire Protection Unit, Hurricane Protection Unit and Earthquake Protection Unit. We look forward to telling you more about this tool in a future update.
Until then, here are some things you may not know about your Risk Management colleagues:
Global collaboration helps us innovate
We have always protected customers with highly complex insurance needs: those who own multiple homes, extensive collections, etc. However, we’ve typically focused on assets situated in the United States. In the past, when a U.S. based client owned additional homes in other parts of the world, we would need to devise a one-off, manual solution. In some instances, we had to decline the business outright because we did not have the ability to underwrite it.
When considering ways for AIG Private Client Group to grow, addressing the “multinational” private client customer was an obvious opportunity. But where to begin?
On the commercial side of the organization, AIG Multinational has been a market leader for decades. We knew there had to be a way to leverage the mechanics already in place, but how could we fit a personal lines product into a commercial structure and workflow?
To help us devise a solution, we established a global team of employees representing multiple disciplines:
We also collaborated with others located in 12 countries that we prioritized based on where our U.S. clients tend to buy secondary homes: Canada, UK, France, Monaco, Spain, Italy, Switzerland, China, Mexico, Puerto Rico, Chile and Uruguay.
As you know, the result of this extensive teamwork was a first-to-market multinational property program. It’s already helping us win and retain very large accounts, and it’s also a testament to the power of AIG; few competitors can match this advantage.