AIG Introduces Its Design and Construction Phase Risk Mitigation Service for Luxury Homes into Canada

TORONTO--(BUSINESS WIRE)-- AIG Insurance Company of Canada (AIG Canada), the Canadian-based subsidiary of AIG, today announced the launch of Smart Build, a risk management and mitigation service for residential construction projects with budgets of $5 million or more.

This first-of-its-kind program in Canada is available to AIG Private Client Group clients who are embarking on new residential construction or a significant home renovation project. AIG Private Client Group’s team of risk managers will work closely with a client’s architect and builder to collaboratively mitigate the often-times costly risks associated with residential construction.

Smart Build was developed as the result of AIG’s expertise in the field of custom and luxury home protection and the data analytics it has amassed from over a decade of onsite risk assessments to create insights into risk mitigation and the inherent financial consequences of construction errors.

With water damage quickly becoming one of the most common causes of homeowner insurance claims in Canada, AIG’s program can help ensure preventative measures are taken to mitigate these losses. The service also seeks to minimize risks related to natural catastrophe, security, fire and life safety, and potential threats to fine art or other collections and luxury home vulnerabilities.

“Many homeowners who are building or reconstructing a home do not bring in their insurance company until after the project is complete, and unfortunately, we have seen that things often do go wrong,” said Autumn Kerr, Manager of Risk Management Services for AIG Private Client Group. “Smart Build allows AIG to work with the policyholders, their contractors, architects, and other building professionals in order to collaborate, make recommendations, and mitigate risks right from the projects inception.”

AIG Private Client Group, a division of the member companies of American International Group, Inc. (AIG), offers complete insurance solutions for successful individuals and families. Broad coverage is specially designed to preserve high-value assets and personal liability. Protection is further augmented with services designed to minimize property damage and bolster family safety.

American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today we provide a wide range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in more than 100 countries and jurisdictions. Our diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. 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 and www.aig.com/strategyupdate | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. AIG Insurance Company of Canada is the licensed underwriter of AIG Commercial and Consumer insurance products in Canada. Coverage may not be available in all provinces and territories and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. The AIG logo and AIG are trademarks of American International Group, Inc., used under license by AIG Insurance Company of Canada. Additional information about AIG Canada can be found at www.aig.ca.

© 2016 American International Group, Inc. All rights reserved.

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