AIG Named a 2015 “Value Champion” by the Association of Corporate Counsel
May 19 2015 - 11:30AM
Business Wire
American International Group, Inc. today was named a 2015 “ACC
Value Champion” by The Association of Corporate Counsel (ACC) for
leveraging its Global Legal Operations Center to deploy large
scale, innovative programs that promote consistent achievement of
the best legal outcomes at the most compelling overall value. These
programs harness analytics, innovative law firm and vendor
management processes, and competitively sourced alternative fee
arrangements in support of the legal needs of AIG’s insurance
clients as well as its corporate legal functions. Overall, the
programs generated over $200 million in benefits in 2014 alone,
while deploying sophisticated analytics to avoid negatively
impacting legal outcomes.
A component of the ACC Value Challenge, which promotes
reconnecting the cost and value of legal services, the ACC “Value
Champions” initiative recognized AIG as one of 12 companies and
collaborations that delivered substantial value by better managing
costs, improving predictability and achieving better legal
outcomes.
“We commend AIG for being champions of change in the legal
industry,” said Veta T. Richardson, president and CEO of ACC. “This
year, we were especially impressed by the scope of the value
initiatives. The 2015 ACC Value Champions employed several value
tactics simultaneously – pursuing multifaceted programs that
encompass outside counsel relationships, internal process
improvement and innovations in technology – accomplishing
extraordinary results.”
“We are truly honored to be recognized by the ACC among such a
large and accomplished group of nominees,” said Thomas A. Russo,
Executive Vice President and General Counsel of AIG. “AIG’s Legal
Operations Center has demonstrated that, by leveraging data,
process innovations and strategic partnerships, it’s possible to
both greatly enhance value in legal services and consistently
obtain the best legal outcomes. We’re very proud of the remarkable
accomplishments by the Legal Operations Center and their internal
and external partners.”
ACC received 80 nominations from law departments and law firms
from November 2014 through February 2015. The complete list of the
2015 ACC “Value Champions,” along with additional details related
to the AIG submission, can be viewed online at:
www.acc.com/valuechampions.
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.
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AIGInvestorsLiz Werner,
212-770-7074elizabeth.werner@aig.comorMediaJennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.com
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