AIG Investing in Tech for Advisers, Brokers

Reports from the Insured Retirement Institute’s conference in Washington indicate that AIG will take steps to strengthen its position in the independent broker market.

Reuters reports that CEO Robert Benmosche said at the conference that AIG intends to upgrade technology used by its Advisors Group.

Among several initiatives, AIG's Advisors Group—made up of Royal Alliance Associates of New York, SagePoint Financial Inc. of Phoenix and FSC Securities Corp. of Atlanta—introduced an Internet-based system for managing fee-based accounts and tools to reduce paperwork.

Benmosche reportedly said the insurer, with its financial fortunes improving, also wants to make its 4,680 independent brokers "feel at home." And, the insurer’s recruiting efforts helped attract 430 new advisers last year.

"We wanted to send a message to the organization that we're going to prepare for the future," Benmosche said at the conference, according to Reuters.