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AIG Analytics and Services Pvt. Ltd

AIG P&C Global Property is a wholly-owned subsidiary and a legal entity in India that serves as a Centre of Excellence (CoE) to support our drive towards underwriting excellence through accurate and comprehensive data capture, catastrophe modeling, risk engineering, actuarial, application development, and advanced portfolio analytics.

How do we add value to AIG? By yielding substantial benefits to the organization, led by loss ratio improvements through enhanced risk assessment, selection, and pricing. The work we do also contributes to expense reduction and workflow efficiencies.


Catastrophe Account Modeling involves using commercially available catastrophe risk assessment models to objectively evaluate catastrophe risk associated with a given insurance account. The model outputs help the underwriter dealing with the risk take informed decisions with regard to pricing and structuring of the insurance policy.

Portfolio modeling involves using commercially available catastrophe risk assessment models to objectively evaluate catastrophe risk associated with a given insurance portfolio or a group of accounts. The model outputs help senior management and other stakeholders better understand aggregate level risk and take informed decisions with regards to dealing with aggregate risk and transfer of risk through measures such as reinsurance placements etc.

Model R&D involves gaining better understanding of the mechanism of exiting catastrophe risk models and their outputs in order to evaluate their capabilities to accurately assess AIG’s risk.

Marine Modeling involves using commercially available catastrophe risk assessment models to objectively evaluate catastrophe risk associated with static marine exposures including warehouses, stocks, cargo and ports and terminals.

Risk Engineering performs an initial desktop risk assessment (triages) of various commercial and industrial occupancies from a property insurance loss prevention perspective in support of global Account Engineers and Underwriters. The objective is to enable global property underwriters to make more informed underwriting decisions.

Risk Engineering operations are structured by occupancy specialty pillars:

Energy and Engineered Risk: The division specializes in complex risks that require a high degree of technical expertise catering industrial domains like oil and gas, power generation, construction, mining and related industries, oil rig, chemical and pharmaceuticals.

Commercial Property:  The division specializes in various non-industrial facilities including but not limited to commercial and residential real estate, hospitals, hotels, IT parks, shopping and other service oriented occupancies as well as all industrial manufacturing occupancies excluding those covered by energy and engineered risk. The industrial manufacturing division covers occupancies like light manufacturing (metal works, plastic works etc.) and specialized manufacturing (e.g. steel, pulp and paper, semiconductor, etc.).

Actuaries drive results with their expertise in quantitative analysis, insurance pricing, loss reserving, and risk quantification.  The pricing actuaries directly support AIG’s businesses and are responsible for technical pricing, product development analytics, performance monitoring and measurement and assessment of reinsurance needs. This team works closely with marketing, operations, and financial management to achieve business objectives. The commercial actuarial pricing practice provides technical support to AIG’s commercial insurance solutions for the full spectrum of enterprises from large, multinational and mid-sized companies to small businesses, entrepreneurs, and non-profit organizations across the globe. 

The Actuarial CoE in Bangalore is a new setup and follows a similar structure.  The current and long term focus is to be engaged in both pricing and reporting.

Property Actuarial provides support to the underwriting office by applying sophisticated actuarial techniques in the field of data mining, modeling aggregate and granular level data to support technical pricing, and developing optimized reinsurance solutions to understand reinsurance needs on medium and large accounts. 

Casualty Actuarial supports the underwriting office in developing data driven insights that empower creation of customer centric solutions and reporting. 

Specialty Actuarial provides support to the Underwriting office by applying sophisticated actuarial techniques in the field of data mining and reporting.

Financial Lines Actuarial supports the underwriting office in various initiatives related to data mining, and reporting.

ADM Vendor Governance is responsible for providing on the ground governance for IT programs delivered by AIG’s India based global delivery partners (GDPs) for IT application development and management. AIG’s Application Development and Management (ADM) group in partnership with AIG Global Sourcing and Procurement Services (GS&PS) have rolled out a Global Delivery Partner (GDP) program, in which five India based IT services vendors that have capability to provide IT services to AIG globally have been designated as AIG’s global delivery partners of ADM services.

The ADM vendor governance team in India is responsible for governing GDPs in India, who have 5000+ FTEs working for AIG globally for various IT programs. ADM vendor governance team runs various programs and initiatives in the above mentioned areas to ensure all GDPs deliver expected value to AIG by adhering to all policies and standards of AIG.

The primary focus of the ADM vendor governance team in India is to perform vendor governance on these partners in the following four areas:

  1. Relationship Management
  2. Performance Management
  3. Contract and Risk Management
  4. Financial Management

Internal Audit provides the audit committee, executive business management and our regulators with an independent assessment of the firm’s ability to manage and control risk; and influences and advises business managers on ways of enhancing the risk and control environment. Investigative Group within IAD is responsible for employee investigations, continuous monitoring, fraud risk assessments and fraud awareness training.
The principal components of IAD’s audit plan design are:

  • Annual risk assessment and update of the audit universe
  • Preliminary risk assessment and conclusions which are shared with enterprise risk management and the external auditor to ensure alignment
  • Development of a dynamic and responsive plan focused on coverage of the company’s evolving governance structure and changing risks
  • Quarterly continuous risk assessment and evaluation of the audit plan to identify any requirement or changes, which are then presented to the appropriate audit committee/board of directors for approval.