AIG Companies Introduce iClaims Capability To Primary Claims Operations; New Technology Enhances Claims Management Process.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 27, 2004

The AIG Companies today announced the implementation of iClaims, a document management imaging technology that electronically scans and routes all claim documents to the appropriate specialist, in their Primary Claims' workers' compensation offices.

The iClaims technology expedites claims management through the efficiency of a paperless claims process. The system's high-speed scanners streamline claims intake, minimize administrative burdens and allow claims staff to bring greater focus to the servicing of claims. The electronic claims environment gives claim specialists faster access to the information they need, facilitating more timely claim resolution for insureds. The iClaims system also provides a method for effective disaster recovery. As images are scanned into iClaims, they are replicated on a real-time basis at the company's disaster recovery site.

"iClaims brings state-of-the-art electronic claims management capabilities to our Primary Claims operations and offers significant benefits to customers," said Charles R. Schader, Senior Vice President and Chief Claims Officer, AIG Domestic Brokerage Group. "The new system increases the speed and efficiency with which claims are handled, enhances file sharing among claims staff, clients and brokers, and improves data quality and document security. The implementation of iClaims is further evidence of the AIG Companies' commitment to optimizing the claims handling experience for their clients."

Following nationwide implementation in Primary Claims' property and casualty operations in 2003, iClaims is now being rolled out to its workers' compensation offices. The iClaims technology will be based in two regional processing hubs in Alpharetta, Georgia, serving claims offices in the Eastern zone, and Olathe, Kansas, serving claims offices in the Western zone. Full installation is expected by the end of the third quarter.

For more information on iClaims or the Primary Claims division of the AIG Companies, please contact Richard Yeargin, Senior Vice President of Claims Marketing, Primary Claims, at 212-770-6246 or contact [e-mail].

American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.