04 Executive Summary
Key Insights from your 2024 Survey include:
Peer Group Ranking
Overall Ranking (from 29 Markets)
Overall NPS Score (vs Average of -5)
A top 5 position overall in 7 of the 38 Lockton Business Units relevant to AIG
What is going well?
Financial & Political Risks – AIG deploy significant lines sizes when the risk fits and are open to new ideas.
Onshore Construction – AIG are better at leading business and are particularly supportive on the EAR book of business.
Power & Renewables – Strong at writing global programmes and their lead line size is good.
Upstream Energy – Flexible Upstream appetite and a team that are good at developing and maintaining relationships.
Construction Investments – Technical expertise is a strength.
Global Real Estate – AIG are focused on providing a good, well-priced service to clients and have the ability to write niche risks and excess liabilities.
UK Construction – Lead insurer in the Construction Casualty space with competitive pricing and fast turnaround times in comparison to other markets.
Belfast – Positive comments regarding communication and quality of products and coverage.
Dublin – Flexible and issue documentation efficiently.
Aberdeen – Strengths include the online portal, PA&T coverage, and the quality of documentation.
Birmingham – AIG have a wide policy coverage and are strong at writing EOL and PA&T.
Glasgow – Good response times and ability to handle more complex accounts. AIG also have higher limits of indemnity on liability business.
London Retail – AIG are flexible, and their strengths lie in their global network, multinational servicing, complex programmes, cross class deals and PA&T.
Manchester Corporate – AIG’s strengths include broad coverage, underwriting multinationals, providing high capacity and a good online portal.
Newcastle – Good Portable Appliance Testing offering and strong at underwriting A&H and Financial Lines.
Bermuda – The team are responsive, keen to connect and communicate via the phone and provide access to key decision makers. They maximise their global network and have large blocks of capacity.
Casualty NA – AIG have a stable capacity with quality underwriters that are putting out larger limits and price risks competitively.
Crisis Management – Efficient turnaround times and competitive with regards to pricing.
Property NA – The combination with Talbot is significant for building follow capacity with a meaningful line.
Property ROW – AIG have a structured approach and their follow capacity via Talbot is an area of strength.
Financial Institutions – Aggressive in targeting new business and their multi-jurisdictional policies are a positive.
Global Cyber & Technology – Communication is a key strength for AIG, and they are a chosen underwriter for more complex risks.
Management Liabilities – AIG have knowledgeable underwriters and their multinational offering is a key strength.
National PI Accountants – Positive trading relationship and the team’s underwriting expertise is better than some other insurers.
National PI Construction & Property – The team have good technical expertise and are helpful when it comes to Worldwide coverage.
National PI Misc/Recruitment – They offer flexibility on premium.
National PI Regulatory – Good communication and access to decision makers.
National PI Solicitors E&W – Responsive, supportive, and decisive.
Private Clients – Good US coverage.
Professions PI Construction & Property – Their service company function works efficiently.
Professions PI Solicitors & Accountants – The team are responsive, communicative and have aggressive pricing.
Transactional Risks – AIG have competitive pricing, offer large capacity and a breadth of products and services.
Aviation – AIG's capacity is good.
Marine Cargo – AIG are responsive and have good line size, capacity, and multinational capabilities.
Marine Hull – The team are quick to respond, put forward large lead lines and are experts on price flexibility and communication.
Areas for Improvement for AIG?
Financial & Political Risks – It would be beneficial for AIG to widen their appetite and to have more in-person engagement.
Onshore Construction – AIG could improve by being more competitive and more willing to suggest alternative solutions.
Power & Renewables - To improve, AIG should increase head count and engagement, particularly around new business. It would also be positive if AIG could change their attitude towards smaller business and take a more optimistic approach to challenges.
Upstream Energy – AIG should widen their scope.
Construction Investments - AIG need a broader appetite.
Global Real Estate – It would be beneficial for AIG to meet more of the Lockton team and engage more in the office. To further improve, AIG should broaden their appetite and be more flexible.
UK Construction - AIG should consider greater flexibility around appetite particularly for mid-market business and ancillary lines e.g. Travel. Although AIG are already strong on Casualty insurance, they should engage more on UK Construction (CAR) insurance.
Belfast – Areas of development include breadth of appetite and claims turnaround times.
Dublin – AIG should improve engagement and responsiveness.
Aberdeen – Could improve their flexibility of Property pricing, response times and reduce the minimum premium on commercial combined products.
Birmingham – AIG could improve their open market trading and quote more risks.
Commercial Wholesale - Appetite communication is key and should be improved.
Glasgow – Engagement and presence are key themes of improvement.
London Retail – The team should engage more frequently and efficiently and have the ability to make wording decisions.
Manchester Corporate – Response times are slow, and it is difficult to access underwriters and more senior personnel.
Newcastle - Should be more aggressive on PDBI appetite.
Bermuda - AIG should consider lower attachments and be more flexible with PPCs.
Casualty NA - AIG should be more forthcoming in disclosing information and provide an explanation of additional endorsements that reduce coverage.
Crisis Management – To improve, AIG could engage and communicate more.
Property NA – Increase frequency of engagement with their brokers i.e. meet and greets.
Property ROW - AIG should improve service levels, be less stringent with terms and buy more Fac with Lockton.
Financial Institutions – Responsiveness and flexibility can be improved.
Global Cyber & Technology – Need to improve their terms and technical knowledge within the team whilst also being more aggressive on new business.
Management Liabilities – The team is currently understaffed, and the response times can be slow.
National PI Accountants – It would be helpful if they could improve turnaround times and expand appetite.
National PI Construction & Property – Response times need improving.
National PI Misc/Recruitment - AIG could issue policy documents in a more timely manner.
National PI Regulatory – Response times could be improved.
National PI Solicitors E&W - Pricing is an area to develop.
Private Clients – Areas for development include international cover and the speed of issuing documents.
Professions PI Construction & Property - High turnaround of underwriting staff.
Professions PI Solicitors & Accountants – AIG’s appetite can change more than other insurers during difficult market conditions, and they should consider diversifying their portfolio.
Transactional Risks – The stability of the AIG underwriting team needs improving, and they should consider removing some exclusions and putting down larger lines.
Aviation - AIG's pricing should be improved.
Marine Cargo – AIG could improve flexibility around appetite/wordings and writing business in London rather than via local offices.
Marine Hull – AIG need more underwriters to improve service levels.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
