American International Group Inc (AIG.N), which nearly sold its retail brokerage units in 2009 to raise badly needed cash, is now investing in the businesses to build a stronger competitor in the independent brokerage market. Speaking at an insurance conference in Washington on Tuesday, Chief Executive Robert Benmosche said AIG intends to upgrade technology used by its Advisors Group. The insurer, with its financial fortunes improving, also wants to make its 4,680 independent brokers "feel at home." Among several initiatives, AIG's Advisors Group introduced a Internet-based system for managing fee-based accounts and tools to reduce paperwork. Recruiting efforts helped attract 430 new advisors last year.
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