AIG Reviews

Cons

can be difficult to navigate, still some silo culture, frequent change in top management created atmosphere of uncertainty though with new CEO this is now shifting quickly

Cons

It's difficult to progress with the company unless you're in London.
No pay rises

Cons

There is no consistency in management.
The company wastes thousands of pounds on different 'projects' only for them to be scrapped

Cons

Staff are overworked and demoralised always under threat of redundancy

Cons

bad management style, bad internal communication and no company's vision, no sense of direction, chaotic and politics-based environment

Cons

NY control everything, makes it hard!

Cons

Constant change and budget cuts mean it is very difficult to do a good job. Management seem to manage upwards and always seem to be fire fighting rather than executing on strategy.

Cons

Lots of management (aka bureaucracy) but no leadership. No "man management". AIG have developed a new management style - "Management By Intranet"; I had more contact with the intranet telling me what's going on, or what the latest changes to strategy, organisation and personnel were, or what compulsory online course I had to do than from my own line manager. In one case I was line managed by someone for 6 months who I never met!

Cons

Ongoing layoffs with no fixed scope, timetable or target. Last 18 months has been a never ending cycle of who is being made redundant next. As soon as one group go the work is out that the next layoffs are in the pipeline. Nobody knows where the sword of damocles will fall next or if they are even in the firing line. Senior staff are resigning or being fired alternately, followed by batches of their teams. Last in, first out seems to be the maxim as the payout is lower and working conditions get worse, perhaps in the hope longer serving staff will just leave. Every meeting is an argument about which cost centre has to pick up the bill and why that isn't acceptable.

Cons

Data, technology and tools are extremely behind other players. In addition underwriting technical expertise is also behind. New talent brought in are not listened to despite having seen best of in other places. Cost savings are the only thing management feel they control so is their biggest focus. This is largerly due to the fact that the company and in particular the P and C business is run by accountants and not insurance experts such as underwriters and actuaries - who understand the risk reward equation better. There is such a focus on expenses and it is indiscriminate that is even if you are overworked and under rersourced you have to downsize the team. Even if the value the team adds including reshaping the underwriting business outweighs cost saving by 100 times. There is no trust in staff and treated like children. Modularity is not working because the P and L causes matrices. The expense savings are destroying the company as talent is not rewarded and not treated well. It states that not having inflationary rises is inline with the market which is not true. There is not enough investment in people and technology because the current management are unable to turn around the company from underwriting so are only able to focus on expenses. This is destroying value for the shareholders as talent gets frustrated and leaves. Aig thinks it is good at change but in reality they change structures without changing behaviours and thinking. Whilst they keep the same people at the top and they keep behaving in the way they do - it is not going to improve.