WorldCare Signs Unprecedented Global E-Health Contract With AIG'S ALICO.Business Editors & Health/Medical Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 9, 2000 Worldwide Health Insurance Giant Teams with E-Health Pioneer To Offer Affordable Second Opinions Via the Web WorldCare, Inc., a leading e-health provider of medical second opinions worldwide, and American Life Insurance Company (ALICO ALICO American Life Insurance Company ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ), today announced the signing of a precedent-setting global partnership agreement. Under this contract, the WorldCare Global E-Health Network(TM) will provide access to personalized second opinion medical consultations from premier U.S. hospitals to ALICO life and health insurance clients around the world. Under the terms of the agreement, WorldCare will provide access to second opinions for ALICO-insured employee group members and individuals, who elect services, in 16 countries in Latin America, the Middle East and Eastern Europe. Utilizing secure digital technology over the Internet and private telecommunications networks, WorldCare will transmit medical records of ALICO policyholders to physicians and specialists at the WorldCare's Consortium of hospitals consisting of the Cleveland Clinic Foundation, Duke University Health System, Johns Hopkins Medicine and Partners HealthCare System, Inc., including Massachusetts General Hospital Massachusetts General Hospital Health care The major teaching hospital for Harvard Medical School, widely regarded as one of the best health care centers in the world , Brigham and Women's Hospital Brigham and Women's Hospital (BWH) is a hospital in the Longwood Area of the Boston, Massachusetts neighborhood of Mission Hill. With Massachusetts General Hospital, it is one of the two founding members of Partners HealthCare. , and Dana-Farber/Partners CancerCare and other affiliates of Harvard Medical School Harvard Medical School (HMS) is one of the graduate schools of Harvard University. It is a prestigious American medical school located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts. . "For the first time a major insurance company and an e-health pioneer are working together to provide access to expert second opinions from some of the world's best hospitals to patients around the globe regardless of the local medical infrastructure," said Nasser Menhall, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of WorldCare. "This contract underscores the convergence of e-healthcare and insurance, both life and health. This represents a paradigm shift A dramatic change in methodology or practice. It often refers to a major change in thinking and planning, which ultimately changes the way projects are implemented. For example, accessing applications and data from the Web instead of from local servers is a paradigm shift. See paradigm. in global healthcare, and a major breakthrough in e-health." "We look forward to offering our clients specialist medical opinions managed and delivered in a timely and effective manner," said Greg Arms, Vice President and Group Management Division Director of ALICO. "WorldCare's leadership and experience in the field, and its alliance with four renowned U.S. hospitals, brings to ALICO insurance clients the kind of high quality benefit that ALICO provides to its policy holders." WorldCare has made such expertise-intensive services affordable by pioneering a capitated e-health second opinion product. WorldCare sells this service globally through local in-country insurance companies and other service providers with large populations. About American Life Insurance Company: American Life Insurance Company (ALICO), incorporated in Delaware, is one of the largest international life insurance companies in the world, with more than $216.5 billion of life insurance in force as of December 31, 1999. ALICO holds Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index highest claims-paying ability rating, AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. , and a Aaa insurance financial strength rating from Moody's. ALICO and its branches, affiliates and subsidiaries market a broad range of life and other insurance products through a network of some 24,000 agents and brokers in approximately 50 countries worldwide. AIG's Group Management Division provides employee benefit programs to multinational and indigenous companies worldwide. AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , as well as the stock exchanges in London, Paris, Switzerland and Tokyo. About WorldCare, Inc. WorldCare, Inc., a subsidiary of WorldCare Limited, facilitates e-healthcare through the delivery of highly specialized and personalized electronic second medical opinions from the best medical centers in North America to local attending physicians for the benefit of their patients. From the transmission of the patient's record, made possible by Internet-empowered technologies, WorldCare is advancing the science of second opinion health care. These second opinions are provided by the WorldCare Consortium, which consists of The Cleveland Clinic Foundation, Duke University Health System, Johns Hopkins Medicine and Partners HealthCare System, Inc., including Massachusetts General Hospital, Brigham and Women's Hospital, Dana-Farber/Partners Cancer Care and other leading teaching hospitals of Harvard Medical School. WorldCare's second medical opinions are covered by special programs sponsored by life and health insurance carriers throughout the world. Founded in 1992 through a joint effort with Massachusetts General Hospital, WorldCare maintains co-headquarters in Cambridge, Massachusetts and Paris, France, with regional offices in Kuala Lumpur, Malaysia, Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r , Brazil, and Dubai, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. . WorldCare can be found at www.worldcare.com.
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