Four years ago many industry watchers wondered whether there was a future for AIG, the storied insurer that was part of the wreckage of the global financial crisis, with losses so great that the company had to receive a $182 billion taxpayer bailout in order to hang on. But, under the leadership of president and CEO Robert H. Benmosche, the carrier has done more than hang on. The company has signaled its intention to be a strong competitor well into the future with the announcement of a new branding strategy and the tagline: "Bring on tomorrow."
This past weekend New York-based American International Group, Inc. announced that AIG is again the "go-to-market brand" of its global property/casualty business in most locations, and that the company's life and retirement segment is now called AIG Life and Retirement.
As part of the rebrand, AIG has also introduced what it calls a new "brand promise": Bring on tomorrow.
"AIG as a global insurance brand is back," said Benmosche in a press release. "The re-launch of the AIG name marks a significant achievement for our company. 'Bring on tomorrow' underscores AIG's tremendous tenacity and ambition -- to solve problems, to innovate for the benefit of our clients, and to act as a powerful, global team. These are the attributes that have enabled AIG to succeed in making America whole on its investment in our company, plus a positive return of more than $15 billion."
"Now we look to tomorrow, and we're excited about the potential we see there. We're excited to get to work on seeing, building, and securing a better future -- for our customers, for ourselves, and for communities around the world. I believe that the spirit of inventiveness and adaptability at the core of AIG will bring opportunities and open doors that will redefine what's possible, helping our customers thrive and make the most of every day."
As of Nov. 11, 2012, AIG's global property/casualty franchise will begin to use the AIG name, and deploy the company's new logo and brand promise in marketing and advertising as appropriate. Other brands in the AIG family, including VALIC, Lexington Insurance, American General, SunAmerica, and Western National, will continue unchanged.
In the company statement AIG Property Casualty CEO Peter Hancock said, "We are very excited to celebrate the long history and strength of the AIG name with our customers around the world. With our investment in the latest data technology, combined with our spirit of inventiveness, we think we're well positioned to help them meet the challenges of tomorrow."
[AIG is placing a major bet on the value of analytics and big data. Read Learning from XL and AIG: How to Become an Analytical Competitor.]
"The AIG name represents strong values, hard work, and keeping our promises. AIG Life and Retirement continues to embody those values," said AIG Life and Retirement President and CEO Jay Wintrob, in the press release. "Our promise to 'Bring on tomorrow' fits well with our role as a premier provider of protection, investment, and income solutions that prepare our customers for a successful future."
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio