American International Group has unveiled an initiative to expand access to life insurance for Chinese-American consumers in the United States.
As part of AIG’s plan to build out its product distribution network, the insurer has begun recruiting “several hundred” life insurance agents to serve Chinese-Americans. The carrier is also instituting measures to better serve this community.
“The expansion of our presence in the Chinese-American market in the U.S. encompasses a broad range of initiatives,” says John Deremo, executive vice president and chief distribution officer-life Insurance at AIG Financial Distributors. “We’re focused not only on recruiting agents from within the target market and exploring business opportunities with premier Chinese-American financial services professionals, but also on steps such as enhancing our in-language case management and underwriting capabilities, continuing to foster a culturally sensitive work environment, and creating a concierge-level customer support center for policy holders and clients that’s staffed with employees fluent in Mandarin, Cantonese or both.”
To boost outreach to Chinese-American consumers — currently a “significant percentage” of AIG’s U.S. life business — AIG is opening a prototype AIG Financial Network office. To be based in Pasadena, California, the office will feature a tea room with round tables for conversation, Asian photography, and Chinese signage.
The AIG Financial Network team serving the Chinese-American community will be led by Elaine Liu, vice president and chief marketing officer, Asian markets; and Joe Kuo, vice president and national sales director, Asian markets.