NEW YORK--(BUSINESS WIRE)--Oct. 29, 2015--
American International Group, Inc. (NYSE:AIG) today announced an initial
$4 million investment with Clemson University to develop a risk
engineering and analytics center and to establish the Robert Benmosche
Endowed Professorship in Risk Engineering and Systems Analytics, in
honor of the company’s former president and chief executive officer.
The center, which will be based on Clemson’s South Carolina campus, will
expand AIG’s engineering capabilities, complementing the company’s
three-year investment in hiring 500 risk engineers and building an
engineering and analytics center of excellence in Bangalore, India. AIG
and Clemson will continue to explore ways to expand their partnership
and collaboration.
The endowed professorship will develop curriculum and educational
programs in the field of risk engineering and analytics, cultivate
scientific investigation and research, recruit world-class faculty, and
create marketable technologies that advance the field.
The partnership will draw on Clemson’s vast engineering and research
capabilities as well as AIG’s data and risk expertise, developed over
its more than 95 years as a global insurer. The center will enhance the
understanding of risk and ways to mitigate it. Its mission will be to
create a next-generation workforce skilled in risk engineering and
systems analytics, develop innovative technology-based tools to mitigate
risk exposure, and facilitate the use of big data to make critical
decisions.
“Our relationship with Clemson furthers the substantial investments AIG
is making in technology, data insights, and engineering to partner with
our clients in new ways. It’s a critical part of AIG’s strategy to serve
as a valued advisor to clients who are managing increasingly complex
risks,” said John Doyle, Chief Executive Officer, Commercial Insurance,
AIG. “The endowed professorship honors Bob Benmosche, who recognized
early the tremendous value AIG can offer clients through engineering and
analytics.”
Key areas of research for the risk engineering and analytics center will
include:
-
Improving cybersecurity to make systems less vulnerable to natural and
manmade disasters
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Catastrophe modeling
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Supply chain and logistics risk
-
Loss modeling and tool development
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Dynamic pricing models for emerging countries
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Predictive risk modeling
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A coastal resilience initiative focused on risks from hurricanes,
floods, and other natural disasters
-
Enhanced capacity to analyze unstructured data to benchmark frequent
loss events and causes
Clemson will provide loss-prevention training with real-world and
virtual reality-based exercises. The center will train analysts to join
members of AIG’s loss-prevention team, with a special emphasis on
understanding risks and how best to prevent and mitigate them.
In addition, online curricula will be created offering graduate
certificates in risk engineering, systems analytics, catastrophe
modeling, and enterprise risk management. Courses will include
decision-making under uncertainty, performance assessment of
deteriorating systems, and post-disaster response and recovery. The
certificates can be combined to meet requirements for a master’s degree
now under development.
“We are pleased to team with AIG,” Clemson President James P. Clements
said. “We have the opportunity to play a leadership role in research and
education that can save lives and property. This important work will
directly benefit multiple stakeholders, including Clemson’s students and
faculty and AIG’s clients.”
Dr. James Martin, the center’s director and chair of Clemson’s Glenn
Department of Civil Engineering, said that AIG will benefit from the
school’s intellectual capital, highly-regarded faculty, and top-ranked
supercomputing power of its renowned Palmetto Cluster computer.
“In our role as global game-changers, the College of Engineering and
Science is on a continuous mission to partner with the world’s top
institutions,” Martin added. “That is why we are excited to launch this
bold, innovative, and dynamic partnership with AIG. We believe it is
just the start of an enterprise that will not only provide new
opportunities for AIG and Clemson, but will also transform the field of
risk engineering, and analysis.”
American International Group, Inc. (AIG) is a leading global insurance
organization serving customers in more than 100 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151029006705/en/
Source: American International Group, Inc.
American International Group, Inc.
Media
Matt Gallagher,
212-458-3247
matthew.gallagher2@aig.com
or
Investors
Liz
Werner, 212-770-7074
elizabeth.werner@aig.com