We are pleased to present you with our 2018 Public Accountability Statement. Through these pages we hope that you gain a better understanding of AIG Canada and its commitment to its employees, clients and communities where we live and work.
2018 was a challenging year for the insurance industry and our clients. With another consecutive year marked by significant natural and man-made disasters, AIG’s clients found resiliency in our Claims Promise and on the ground relief provided through our Crisis Response Team. Unique to AIG, our Claims Promise provides our commercial property clients with immediate working funds of up to 50 per cent of the agreed upon property claim estimate within seven working days after confirmation of coverage. The AIG Claims Promise empowers our clients so that they can quickly access critical funds to meet their immediate cash flow needs to help maintain business continuity and expedite recovery. In a bus accident that rocked the nation, AIG’s Crisis Response team was on the ground within hours to help families with the complex logistics of caring for their loved ones, while facilitating payments on their behalf, and making travel arrangements for out of town families. These services are designed according to the needs of our clients which vary from crisis to crisis. Our Crisis Response team is trained and tested to help lead our clients out of some of their most challenging times by mobilizing much needed help.
While insurance is typically viewed as a risk transfer mechanism, that notion only scratches the surface of what an insurance carrier such as AIG can do for its clients. For young people who seek careers with greater depth and meaning, there are few industries that offer the intellectual diversity of insurance, particularly in the commercial property and casualty industry. For our underwriters, it is a deep dive in to the inner workings of many of Canada’s most important organizations. For our engineers and analysts, it is identifying potentially life-saving remedies for industrial processes and engineering new construction. For our claims staff, it is providing real relief to companies and people as they struggle to rebuild their lives and businesses after a loss.
Providing a rich and rewarding work environment is central to our belief that treating your customers well always begins with treating your employees well. This progressive culture that we have created earned us a position as a Top 100 Employer for Young People award from Mediacorp in 2018. This annual competition recognizes the best places to work in Canada by evaluating each employer based on the programs and initiatives they offer to attract and retain young people.
We are proud of the work and the commitment of our staff as they tackle the significant issues of our day including food insecurity, homelessness, underemployment, health and various environmental causes. We would also like to thank our philanthropy partners for sharing our vision to create a more healthy and prosperous Canada for all.
President & Chief Executive Officer