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Essay / Research Paper Abstract
This 3 page paper looks at three influences that are present for AIG at the end of 2008. The social influence of an aging population, the political influence of US foreign policy and the economic influence of the credit crush are outlined, the relevance for the company is discussed and the ability of the firm to deal with these influences is assessed. The bibliography cites 5 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEaiginfl.rtf
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Unformatted sample text from the term paper:
influences of the macro environment. AIG is a large firm, but is and has been impacted by these. Social Influences 1. The Influence The population in many developed countries
is living longer; the increased life span is pacing an increased pressure on personal finances and necessitating the need for longer term planning for living costs and healthcare. In the
US the avenge lifespan is not projected at 71.84 years, this has increased significantly over the last few decades (CIA, 2008). 2. The Relevance to AIG The firm is providing
a range of products that are needed. Pension plans are needed for individuals to have for their retirement, as well as healthcare policies and as they age the risks increase
(Caffrey and Himes, 2008). 3. AIGs Ability to Deal with the Influence As consumers get older they are more likely to make a claim, but with many insurance polices
there is the ability to build the potential risks into the premium that is charge and as health polices are usually renewed each year this means that the firm can
reassess risk each year and add in the required premium, allowing them, to deal with this risk through actuarial contribution, The increased demand for these and pension provide an opportunity
fore more business, which the firm is well equipped to deal with. Political Influences 1. The Influence There are many political influences. The government foreign policy towards the Middle
East which has caused friction and has resulted in terrorist attacks may be seen as having had a major influence on the insurance industry. The polices are having a negative
impact on the way that the US government is seen which is making many US firms a viable terrorist target as far as the terrorists are concerned (Tessler and Robbins,
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