Management

The Major Market of American International Group

The overall market became competitive and mature. A monopoly market structure has become very rare and oligopoly becomes prominent. Hope and Mailing have defined free trade policy as a competition-enhancing device (Hope and Maeleng, 1998, p.52). The international and domestic countries started to compete with each other on price, better service, customer satisfaction, etc for achieving greater market share. In this respect, to gain a competitive advantage in the market, post-modern organizations are using the latest management tools, theories, and models developed by many experts, critics, and scholars.The financial services industry consists of a number of financial services sectors like banking sectors, insurance, security market, factoring, credit ratings, etc. With increased activities of trade and business and intensified competition, the importance of these financial services sectors has grown significantly. This paper will attempt to present and SWOT analysis of the American International Group (AIG) which is one of the most popular financial service organizations. In order to identify its major internal strengths and weaknesses, external opportunities and threats, this paper will analyze important areas of this organization like its customer relationship management, marketing tools used the company, major issues and its mechanism of the control system. Finally, the overall findings of this paper will be summed up in the conclusion.American International Group Inc. (AIG) is one of the popular insurance services providers in the US and in the global market. Primarily, it is a New York-based company and it is considered to be one of the most prominent market leaders in the global insurance sector. AIG is a multinational company and offers its insurance services in more than 130 countries in the world. The company has acquired a large base of customers and its consumers primarily consist of institutional, commercial, .individual clients.

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