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70 years AIG through the eyes of...

30.10.2018

70 years AIG through the eyes of...

Over the last 70 years we have built some strong relationships with our clients. This successful partnership could not been established without the commitment of our people. This is why we have decided to let our employees and clients share their experiences.

"In the past it seemed unreal for an insurer to potentially receive a claim from all clients; at the very same moment caused by the same event. This has become more and more realistic with the emergence of cyber."

Carl Leeman

Carl Leeman
Chief Risk Officer at Katoen Natie, Vice President at Belrim and board member at IFRIMA

“My experience with AIG started with an excess liability layer in one country 28 years ago. From there we moved to a fronting and excess layer in one country, followed by a manuscript wording -covering different types of liabilities in more than 20 countries all over the globe- some years later. During our expansion from Belgium to the other countries we operate in today, the second country to move in after France was Brazil. A country that, as a second foreign country, should not be underestimated in terms of underwriting.  Nowadays, an entrepreneur has to deal with many complex risks. Cyber ​​risk is for example a hazard that distinguishes itself from others. In the past, for an insurer, it seemed unreal to potentially receive a claim from all clients at the very same moment caused by the same event, but this has become more and more realistic with the emergence of cyber.

In my opinion Cyber is one of the biggest challenge for the insurance industry, but also for the rest of the economic world. To keep ahead of changing risks in a rapidly evolving world and economy, while operating in a traditional slow insurance market will be an additional challenge for insurers, although I believe that for a company cyber insurance is not really  the first thing to think about while protecting the future of your company. For an insurer spread of risks and ’Economy of scale' will therefore become increasingly important in the future, while an insurer must reduce regional damage as much as possible to prevent a global impact. If a local company wants to survive now, and especially in the future, they have to be able to respond quickly to rapid changing situations."

Antoine Gérard
Complex Claims Adjuster Financial Lines AIG Belgium


“AIG and I share one thing in common: we are both pretty far from retirement. So, for my part, this anniversary is more about the future than looking back to the road we have travelled so far. Children try to understand the world by asking questions like: ‘why is the sky blue?’, ‘why do we have two eyes if we only see one thing?”. Some may have experienced these kind of conversations and some may have answered: stop asking ‘why’, it’s too complicated. I am not a kid anymore, but I like to stay a bit naïve. And I have the feeling that AIG has also remained a child. A child who can’t stop asking questions about things. This is what someone makes a great leader.

I wonder what the founders of AIG Belgium prospected for 2018. People change. Values remain. As the business evolves, AIG has anchored some core beliefs. And I realize, not only for conducting business, but more broadly with the intention to assess and take responsibility while operating. Prepare AIG for the future. Bring on tomorrow.”