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AIG Seguros auto insurance: everything you need to know

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AIG Seguros auto insurance: everything you need to know

One of the most important decisions when you have a vehicle is choosing which auto insurance will give you the protection you need. The market has different options and coverages that are within your reach and to know which is your best alternative, it is best to know the details of each one.

In search of being your allies to clarify the panorama, in GUROS we undertook the task of collecting all the information available from different insurers and so you will know which one to choose to purchase your car insurance.

As an option, we present the characteristics of AIG Seguros, one of the insurance companies with the highest volume of business worldwide, with more than 90 years of experience and customer service.

1. AIG Insurance Auto Insurance

1.1 Types of vehicles for which AIG Seguros offers auto insurance

According to the website, AIG Seguros states that its insurance applies only to the following types of vehicles:

  • Cars
  • Pickups
  • SUV

1.2 Uses of vehicles insured by AIG Seguros

AIG Seguros offers its auto insurance for automobiles that meet the following characteristics:

  • Only applies to cars and SUVs for private use
  • Does not apply to public transport
  • Vehicles older than 20 years are not covered
  • Motorcycle insurance not offered

1.3 Packages and Coverages of AIG Seguros auto insurance

Similar to other insurers, AIG Seguros offers the most common packages for auto insurance:

  • Wide
  • Limited
  • Civil Liability

Here we show you some points of the coverage offered by the 3 AIG Seguros auto insurance packages:

Coberturas AIG Seguros

We invite you to consult the details of all the auto insurance coverage in the GUROS Blog so you can take the best decision according to your needs.

AIG Insurance Rating Compulsory Insurance

Grade 6. 00 (Ranking: place 20 of 23)

Ranking AIG Seguros Ranking AIG Seguros

This rating was taken from Bureau of Financial Entities , a tool that evaluates financial entities. For insurers, you can see the Claims and Controversies received, as well as the Sanctions applied by the Condusef.

Taking as a reference the Standardized Basic Automobile Insurance (which works like the Compulsory Civil Liability Insurance ), and covers the requirements basic by law, such coverage from AIG Seguros obtained a rating of 6. 00 (of 10) to fill the position 19 of the 23 insurance companies that offer this product.

1.4 Deductibles and insured amounts of AIG auto insurance

The three packages that AIG offers in your auto insurance have different market coverages. But the insured sum they offer is usually higher than the average, especially for the coverage of Medical Expenses to occupants.

Here is a brief table that offers the coverage offered by AIG Seguros:

Vehículos más vendidos AIG Seguros

1.5 General conditions of AIG Seguros auto insurance

We believe that this information is very important for users, and if you are interested in knowing the general conditions of AIG auto insurance, we invite you to know your official information .

1.6 AIG Insurance Auto Insurance Quote for the 10 best selling vehicles

In order to facilitate the analysis of the costs handled by AIG Seguros, at GUROS we undertook the task of making the quotation for the three most popular AIG auto insurance packages.

For this report, we take the list of 10 best-selling models in Mexico, and we quote how much the 3 AIG Seguros packages cost at an annual payment, with the Postal Code 06600 , from Colonia Juárez in Mexico City as a reference.

Ranking AIG Seguros Vehículos más vendidos AIG Seguros

1.7 Telephone number AIG Seguros claims and road assistance

If you have contracted AIG auto insurance and need to report a claim, the telephone numbers you must contact are the following:

  • The telephone number to report claims the 24 hours is: 01 800 00 125 00

AIG Insurance emphasizes that an accident must be reported immediately after it occurs.

If you want to know what to do in the event of a claim, we invite you to evaluate the GUROS Guide on What to do in the event of a vehicle accident .

1.8 Other insurance and coverage offered by AIG Seguros

Being a multi-line insurance company, AIG Seguros has several products and insurance for:

  • Cars
  • Home
  • Trip
    • Personal accidents

    Regarding auto insurance, in addition to the traditional packages (Comprehensive, Limited and Civil Liability) AIG offers:

    • Gold coverage. It is the maximum coverage and includes the comprehensive package that eliminates the deductible in case of total loss and returns unearned premiums.
    • Insurance per Kilometer. It is a pioneering proposal in the sector, where the customer pays for what he uses, where he adds the kilometers traveled.
    • AIG Support and AIG Mobility. A coverage that protects the theft of auto parts and replacement of car keys. In addition, it offers services such as a replacement car, tire and wheel insurance, and unlimited roadside assistance.

    2. Information about AIG

    2.1 General Information

    AIG defines itself as a leading insurance company worldwide, highlighting in its description more than 90 years of experience and customer service.

    Some relevant information about the insurer:

    Worldwide support

    Belongs to A merican International Group, Inc., an American multinational finance and insurance corporation with operations in more than 135 countries and jurisdictions.

    AIG Seguros pertenece a American International Group Inc

    Number of clients and / or volume of premiums (total business)

    According to the data of the AMIS (Mexican Association of Insurance Institutions), during 2017, AIG had operations worth a total of 3 million 229, 944 A thousand pesos.

    Ranking in the Mexican insurance sector

    The above numbers place AIG Seguros in the place 21 of 83 in the global ranking of insurance companies in Mexico, with 1.2% of the Mexican market.

    For the automobile industry, it occupies the place 20 of 23, with the 0. 562% market share.

    2.2 AIG financial information Insurance

    The main financial indicators of the insurer are the following:

    IDATU AIG Seguros

    AIG Seguros' combined technical ratio

    The Combined Ratio (also known as the Combined Technical Ratio or Combined Index) is the operating result of each insurer.

    As of the fourth quarter of 2017, AIG had a Combined Index in the automobile sector of 134%, with a growth of 21. 06%.

    Billing, cost per claims and loss ratio of AIG Seguros

    According to data from the Mexican Association of Insurance Institutions, AIG reported on 2017 a raising of $ 6, 452, 800, 236 for the total of all premiums issued.

    On the other hand, the loss ratio in the same period reached $ 3, 167, 562 millions of pesos; with which the accident rate was 49. 68%.

    According to data from AMIS, the automobile industry, AIG billed $ 583, 780 million pesos in 1518, while in that branch he earned $ 374, 871 million pesos, almost 62. 09% of the total.

    Financial valuation of AIG Seguros

    The insurer AIG has a certification from the rating agency of mxAAA, given the US rating agency Standard & Poor's Financial Services, available on the website of the Mexican Stock Exchange.

    Debt rated 'mxAAA' has the highest rating granted by S&P Global Ratings on its CaVal scale and indicates that the issuer's ability to pay to meet its financial commitments on the obligation is extremely strong in relation to other issuers in the domestic market.

    2.3 Information on the quality of care from AIG Seguros

    At GUROS we use different official bodies to measure the quality of care in claims of each of the insurers.

    These are the ratings that AIG Seguros has received:

    User Service Performance Index (Condusef)

    AIG Seguros had a rating of 9. 85 in the Condusef User Service Performance Index (IDATU) of the accumulated of 2017, thus reaching the position 4 of 79 insurers of which there is a record.

    IDATU AIG Seguros Coberturas AIG Seguros

Claims before the Condusef

In the first quarter of 2018, AIG was located on the spot 19 of 78, regarding claims before Condusef in the Automobile Damages branch, with 87 claims, with a favorable resolution of 30. 30.

The Condusef does not specify what were the causes of the claims. However, the most common that it has received in previous years is the untimely presentation of financial information.

Claims submitted on the total of claims attended

In the same first quarter of 2018 , AIG does not have a record of the volume of claims handled. However, it does have 88 claims for claims filed with the Condusef.

This implies that for AIG Seguros we cannot present the index of claims over total claims (since we do not know the number of claims).

Sanctions imposed on AIG Seguros

According to the portal of Bureau of Financial Institutions , it is mentioned that during the 2017 AIG received 6 penalties for $ 184, 667 pesos, while in the first semester of 2018 there is still no reference to any sanction received.

Average valuation to adjusters

The average of the adjuster evaluation , AIG service providers work has a ratio of 3.8 on scale from 1 to 10, according to information released by Condusef.

2.4 Aggregate values ​​of AIG Seguros

Here are AIG's added values ​​for auto insurance:

  • Payment options to 6 and 12 months without interest
  • Purchase online
  • Network of workshops in agreement with AIG
  • Online monitoring: If your car is in the workshop you can check the status of its repair until the moment of your delivery.

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