• The process includes consideration and documentation of the following, where relevant: outline of constraints and risks, including pricing, underwriting, marketing, distribution, claims, reinsurance, operations, systems, tax and accounting.
• The Legal and Compliance departments must be consulted.
• Any product enhancement that potentially introduces significant reputational risk to AIG must be referred to the Commercial Product Development Committee (PDC).
• Determination of whether or not a Product is Tier 3 – (Breakthrough), is made by the Product Tower in collaboration with the functional areas consulted. Where there is disagreement, the question is to be escalated to the Commercial Chief Underwriting Officer for disposition.