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AIG’s New Tack: Data Into Dollars

August 31, 2014 /

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The 56-year-old is pushing AIG http://www.aig.com to wring greater efficiency–and profits–out of the vast reams of information it keeps about its customers, among other sources.

If the strategy works as he expects, the results will include new products, better identification of fraud and potentially lower premiums for certain customers.

"If we can do that, we become not the biggest insurance company, but the most valued in the eyes of those customers," he said.

The emphasis on analytics is one of the clearest signs of how Mr. Hancock hopes to address the main challenge now facing AIG: boosting profits.

By
Leslie Scism

Full Story: http://online.wsj.com/articles/aigs-new-ceo-looks-to-data-to-chart-insurers-course-1409328464

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