The Global Commercial Product Development Committee (PDC) is governed by a written Charter, has delegated authority from the AIG Commercial Global Underwriting Committee (GUC), is chaired by the Chief Underwriting Officer, and includes senior Global Commercial functional area leaders.
The PDC is responsible for:
• Reviewing and approving Product governance processes for Tier 1 and Tier 2 Incremental Product approvals.
• Reviewing and approving Tier 3 Breakthrough Products prior to launch. Such approval may include ongoing performance review requirements, as appropriate.
• Assuring that all required business functions’ processes are being followed in accordance with the requirements of the AIG PC Global Product Development Policy.
• Monitoring and reviewing performance of the Product Development process in AIG Commercial and implementing revisions as needed on an ongoing basis.
• Maintaining a record of approved and disapproved Tier 3 Product Development business cases.