American International Group is investing billions of dollars in "big data" as part of its major focus on "rebuilding the foundation of the company," CEO Robert Benmosche told CNBC on Wednesday.
"Our theme is: We want to make sure AIG becomes a great company again, and then we'll worry about whether we're a great stock," Benmosche told "Squawk Box."
"We're going to be much more scientific, more data based," he continued, "studying the claims [history] … to give us more predictive modeling capability for the future."
As for government regulation, he said: "It's in AIG's best interest to the regulated by the Federal Reserve. So we have an outstanding team from the Federal Reserve now at AIG. They're digging through everything we have. Verifying everything we have. Checking our policies. Checking out procedures."
Benmosche started the new year by saying it was not in the interest of AIG, its shareholders, or the public to join former AIG Chief Executive Hank Greenberg's lawsuit against the U.S. over the terms of its bailout.