Summary:
1. AIG has seen faster gains than expected from using generative AI, impacting underwriting capacity, operating costs, and portfolio integration.
2. The company’s CEO, Peter Zaffino, has highlighted the positive results of generative AI in boosting submission processing capacity and reducing the need for additional human resources.
3. AIG has successfully implemented generative AI in various areas of its business, such as its excess and surplus unit, resulting in increased efficiency and improved decision-making processes.
Article:
American International Group (AIG) has recently unveiled the impressive outcomes of its utilization of generative AI technology, surpassing initial expectations and revolutionizing key aspects of its operations. This breakthrough has significant implications for underwriting capacity, operating costs, and seamless portfolio integration within the company. AIG’s disclosures at an Investor Day have garnered attention from AI decision-makers due to their promising assertions regarding measurable throughput and workflow redesign.
CEO Peter Zaffino has expressed enthusiasm about the potential benefits derived from AIG’s generative AI initiatives. Initially labeled as “aspirational,” the company’s early projections have now evolved into concrete achievements, as evidenced by Zaffino’s statement during a fourth-quarter earnings call that “we see the abilities are much greater.” A notable shift in tone reflects the positive internal results, with Zaffino highlighting the substantial enhancement in processing submission flow without the need for additional human capital resources.
One of the most striking claims made by AIG is the significant increase in submission processing capacity attributed to generative AI implementation. By embedding this technology in core underwriting and claims processes, the company has witnessed tangible progress in streamlining operations. AIG’s internal tool, AIG Assist, has been successfully integrated across most commercial lines of businesses, further enhancing efficiency and decision-making capabilities.
In a strategic move, AIG’s excess and surplus unit, Lexington Insurance, set ambitious targets for submission processing, aiming to reach 500,000 submissions by 2030. Remarkably, Lexington has already surpassed 370,000 submissions in 2025, a testament to the effectiveness of generative models in data extraction and summarization. The company’s orchestration layer in the technology stack plays a pivotal role in coordinating AI agents to drive optimal decision-making processes and cost reduction initiatives.
The seamless orchestration facilitated by AIG’s generative AI stack has enabled the compression of the “front-to-back workflow,” fostering tighter integration between intake, risk assessment, and claims handling. By leveraging multiple AI agents orchestrated through a centralized layer, AIG has successfully streamlined previously cumbersome processes, driving efficiency and enhancing overall operational performance.
AIG’s innovative approach to incorporating generative AI in specific transactions, such as the conversion of Everest’s retail commercial business, underscores the transformative impact of this technology. By prioritizing accounts for renewal in a fraction of the time, AIG has demonstrated the power of ontological alignment in blending portfolios seamlessly. The company’s collaboration with partners like Amwins and Blackstone to launch Lloyd’s Syndicate 2479 further exemplifies the strategic application of generative AI to assess risk appetite and drive informed decision-making.
For AI decision-makers, AIG’s success story serves as a compelling case study on the transformative potential of orchestration and workflow integration through generative AI. The economic impact of such initiatives hinges on measurable changes in capacity and cycle time, underscoring the critical role of technology in driving operational efficiency and strategic decision-making processes.
In conclusion, AIG’s pioneering use of generative AI technology has not only exceeded expectations but also set a new standard for operational excellence and innovation in the insurance industry. By harnessing the power of AI to optimize key processes and enhance decision-making capabilities, AIG has positioned itself as a trailblazer in leveraging cutting-edge technology to drive business growth and success.
