New York —
AIG will start calling its
“They probably weighed the benefits and costs and figured that it has more worth labeled as 21st Century than as AIG Direct,” says Jeremy Bowler, a director at J.D. Power and Associates who studies insurer brands. “Every consumer has so many choices, and AIG’s problems have been so highly publicized—why would someone choose a company with a bad rap?”
AIG is selling businesses including auto insurance, U.S. life coverage and a plane-leasing unit to repay the government loan that saved it from bankruptcy in September.
Rebranding the auto unit “will make our business more attractive to a prospective buyer,” Tony DeSantis, head of AIG’s personal auto group, said in a Nov. 17 letter. Ashooh confirmed the letter’s contents today in an interview.
AIG will launch new television commercials, as well as a revamped logo and Web site on Jan. 5, according to the letter.
Source: Bloomberg.com