Aon Re Global Study: Customer Segmentation on Catastrophe Is at Least as Important as Segmentation on Credit Scores
21 Marzo 2006 - 10:57PM
PR Newswire (US)
Aon Re Inc. Announces Service That Produces Aon Catastrophe Scores
(sm) at the Policy and Location Level for Its Personal Lines
Reinsurance Customers CHICAGO, March 21 /PRNewswire-FirstCall/ --
Aon Re Inc. has studied the results of companies that have
implemented more sophisticated customer segmentation strategies
over the past few years. The results of the study show that while
the overall returns for the personal lines property industry still
lag the cost of capital, "we are starting to see differentiating
results between insurers," according to Randall Brubaker, Aon Re
Services senior vice president. "This differentiation has been
somewhat masked by the increased frequency of hurricanes during the
past two years but the underlying progress is evident." (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) Brubaker
continued, "It is clear that the core disciplines and customer
segmentation tactics that are commonly utilized with personal lines
automobile have improved the financial results of the
non-catastrophe personal lines property business. The next phase of
improvements in personal lines property will include substantial
improvements to the disciplines and tactics associated with
customer level segmentation on catastrophe risk. The current more
active hurricane period has only accelerated the need to implement
more sophisticated catastrophe based customer level segmentation
strategies." The ability to pair the Aon Catastrophe Scores (sm) at
the policy and location level with insurance, credit and other core
multivariates will allow insurers to improve the quality of pricing
for all of the risks insured within the policy. The Aon Catastrophe
Scores (sm) also allow insurers to implement pricing and
underwriting strategies that immediately reflect the significant
learnings from the past two hurricane seasons, views on increased
frequency levels and higher levels of capital consumed by property
insurance writings. All catastrophe perils including hurricane,
earthquake, fire following earthquake, tornado hail, winter storm,
brushfire, flood and terrorism and other localized perils can be
incorporated into Aon Cat Scores (sm). Aon Catastrophe Scores (sm)
are based upon multi-model analysis for the unique portfolios of
individual insurers. Aon Re has led the industry with applications
of multiple catastrophe model processes to manage catastrophe
pricing and underwriting. The results from the past two hurricane
seasons has proven that multiple model strategies have been more
predictive than the use of any one standard model. Catastrophe
Scoring (sm) is the next step in developing services that represent
a competitive advantage for Aon Re clients, through more predictive
catastrophe pricing at the customer level. Michael Bungert, Aon Re
CEO, said, "The need to incorporate more sophisticated catastrophe
underwriting and pricing approaches into customer segmentation
models is clear. We are pleased that our continued investment in
catastrophe modeling and our continuing significant investment in
our own technical client service capabilities will make the
transition into the next phase of underwriting and pricing
sophistication easier for our clients and prospects." Contact: Al
Orendorff 312-381-3153 Aon Corporation (NYSE:AOC) (
http://www.aon.com/ ) is a leading provider of risk management
services, insurance and reinsurance brokerage, human capital and
management consulting, and specialty insurance underwriting. The
company employs approximately 47,000 professionals in its 500
offices in more than 120 countries. Backed by broad resources,
industry knowledge and technical expertise, Aon professionals help
a wide range of clients develop effective risk management and
workforce productivity solutions. This press release contains
certain statements related to future results, or states our
intentions, beliefs and expectations or predictions for the future,
which are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from either historical or anticipated results depending on a
variety of factors. Potential factors that could impact results
include: general economic conditions in different countries in
which we do business around the world, changes in global equity and
fixed income markets that could affect the return on invested
assets, fluctuations in exchange and interest rates that could
influence revenue and expense, rating agency actions that could
affect our ability to borrow funds, funding of our various pension
plans, changes in the competitive environment, our ability to
implement restructuring initiatives and other initiatives intended
to yield cost savings, our ability to execute the stock repurchase
program, changes in commercial property and casualty markets and
commercial premium rates that could impact revenues, changes in
revenues and earnings due to the elimination of contingent
commissions, other uncertainties surrounding a new compensation
model, the impact of investigations brought by state attorneys
general, state insurance regulators, federal prosecutors, and
federal regulators, the impact of class actions and individual
lawsuits including client class actions, securities class actions,
derivative actions, and ERISA class actions, the cost of resolution
of other contingent liabilities and loss contingencies, and the
difference in ultimate paid claims in our underwriting companies
from actuarial estimates. Further information concerning the
Company and its business, including factors that potentially could
materially affect the Company's financial results, is contained in
the Company's filings with the Securities and Exchange Commission.
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT: Al
Orendorff of Aon Corporation, +1-312-381-3153 Web site:
http://www.aon.com/
Copyright
Grafico Azioni AON (NYSE:AOC)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni AON (NYSE:AOC)
Storico
Da Lug 2023 a Lug 2024