Presented by: Marc Lipman

Chief Operating Officer

AIG Canada

Positioning Your Business in the

“Age of Innovation” and Managing

the Insurtech Boom

AIG Canada Innovation Challenge

AIG Canada Innovation Challenge

• Challenging AIG to think differently • Compelling way to engage the Canadian entrepreneurial ecosystem • How to make AIG staff aware and empower them to participate in the innovation • Leave themes broad and open to see what people came up with

Considerations

Background Innovative technologies, including the Internet of Things, advanced analytics, and digital solutions are changing our world. How might these innovative technologies be leveraged so that insurance becomes more customized, personalized and accessible to businesses and individual consumers anywhere, anytime?

AIG Goals AIG engaged the entrepreneurial ecosystem to see how they view insurance and future of the industry. Create a positive perception of AIG both internally and externally. Increase brand awareness, talent retention and recruitment Partner The Consulate General of Canada in San Francisco | Silicon Valley Demo Day December 9, 2016 in Toronto: AIG selected 2 winning teams from the 10 finalist teams that attended the Demo Day Participants Startups based in Canada Prize Cash prize: $50,000 for 1st place and $5,000 for 2nd place. Opportunity to work with AIG Canada after Demo Day

AIG Canada Innovation Challenge Three week application submission period

87 Startups applied

Wed Sept 6 Applications Began Wed Sept 28 Application Deadline Wed Oct 5 Began Innovation Challenge (participants selected) Tue Nov 15 Final Submission Deadline Tue Nov 22 AIG selected finalists to present at Demo Day

Fri Dec 9 Demo Day

in

22 Days

Tue May 31st Wed Sep 6th Wed Sep 28th Wed Oct 5th Tue Nov 15th

Timeline & Planning

Theme Selection

Marketing/PR Applications

Open Applications

Close

Start of

Challenge

Challenge

Submissions

Deadline

Selection of Screening Panel, Coaches & Judges

Support for

Participants Filtering

Applicants

Application

Support

Demo Day &

Selection of

Winners

Finalists Selection

Fri Dec 9th Tue Nov 22

Judging Criteria

Conceptual design approach The ability to articulate and address the Challenge prompt, a clearly defined “problem” and “solution,” and a compelling value added to AIG and its customers. Implementation and technical feasibility The creation of a solution that is technically sound and feasible for implementation. Innovation, creativity and newness of the idea The creativity and uniqueness of the entry. Presentation The functionality and clarity of the demo, mockups, video, or other media.

Judging Criteria

Conceptual design approach The ability to articulate and address the Challenge prompt, a clearly defined “problem” and “solution,” and a compelling value added to AIG and its customers. Implementation and technical feasibility The creation of a solution that is technically sound and feasible for implementation. Innovation, creativity and newness of the idea The creativity and uniqueness of the entry. Presentation The functionality and clarity of the demo, mockups, video, or other media.

AIG Canada Innovation Challenge Results

AIG Canada Innovation Challenge Results

FINANCIAL FRAUD

DETECTION

Aligning Internal Engagement with Innovation

Weekly Dialogue – each week during the Challenge, employees engaged in a dialogue to give the Start-ups insight into AIG culture and the insurance industry

Screening – 20 employees screened the initial submissions down to top 10 finalists

Coaching – Two employees were assigned to each of the 10 finalists to serve as coaches as the Start-ups prepared or Demo Day.

Judging – Two employees were selected to join AIG Executive Leadership as judges for Demo Day

Demo Day - All employees, including coaches were invited to Demo Day

Innovation and the Attraction of Top Talent

Innovation

Bootcamp

The Evolution of Insurance and Insurtech

KEEP CALM AND

INNOVATE

INNOVATION

Where and How to Engage?

New distribution channel

Technology solutions

insurer

To be our clients’ Embracing

new technology

Enhancing Analytic Capabilities

The AIG Canada Journey

Strategy Customer Engagement

Insuretech

+ + = Business Goal

American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty

insurance, life insurance, retirement products and other financial services to customers in more than 100 countries and jurisdictions. These 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.

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.

© 2017 American International Group, Inc. All rights reserved.

.