- Tools allow risk managers and brokers to quickly assess
current risks to harness the value of insurance
- Risk analyzers are the first wave of tools to be launched
under new Aon Actionable Analytics
CHICAGO, May 1, 2024
/PRNewswire/ -- Aon plc (NYSE: AON) today launched a new suite of
risk analyzer tools that allow brokers in North America to exposure data, quantify loss
potential and help risk managers make better decisions based on
total cost of risk. Aon, a leading global professional services
firm, will showcase the new analytic capabilities at the Risk
Management Society's (RIMS) RiskWorld conference in San Diego, Calif., beginning May 5.
Aon's Property Risk Analyzer is the latest release under Aon
Actionable Analytics, which is how the firm brings together its
data, tools and analytics professionals to make better decisions.
The tool provides exposure visualizations and models potential
losses and simulates the effect of different insurance policy
options to determine which risks clients should retain or transfer.
Delivering value to U.S. companies with property portfolios across
the world, Aon's Property Risk Analyzer delivers a modern
analytical approach for clients valuing, aligning, articulating and
ultimately making risk finance decisions.
"Aon's Risk Analyzers expand the risk insights that brokers can
provide to advise clients," said Joe
Peiser, CEO of Commercial Risk, Aon. "They transform the
focus beyond just expected loss, allowing risk managers to better
communicate the fundamental value that insurance provides. By
offering these powerful insights, we are enabling clients to make
more-informed decisions regarding their risk management and risk
financing strategies."
Aon's Property Risk Analyzer allows risk managers quick access
to:
- Data quality assessments, which improve model efficacy and
consequently price of risk.
- Modeled results at a location level distinguishing between
natural catastrophe-driven exposure and attritional loss
exposure.
- Risk finance options, which allow brokers to explore program
structures potentially available in the market across insurance,
reinsurance, alternative risk transfer and capital market
solutions.
- Performative testing of insurance structures, which measures
the total cost of risk of insurance against other risk transfer
solutions.
Aon will also showcase existing and forthcoming analytic tools
at RIMS including the firm's:
- Casualty Risk Analyzer, which uses a client's loss and
exposure data to evaluate their catastrophic risk potential and
optimize their casualty insurance program.
- Risk Financing Analytics, which helps organizations optimize
the balance between risk tolerance and risk transfer decisions
across their entire insurance portfolio.
- Health Risk Analyzer, which allows organizations to model
and assess financial risks associated with high-cost medical plan
claimants and explore strategies to budget for, manage and reduce
high-cost claimant risk.
- D&O Risk Analyzer, which will test insurance options that
help adequately protect directors, officers, and organizations from
executive risks.
- Cyber Risk Analyzer, which will incorporate insights gained
from Aon's Cyber Quotient Evaluation platform to optimize a
client's strategy for managing and transferring cyber risk.
"The new tools launched under Aon Actionable Analytics are
designed to give clients swift access to analytics and thereby
increase control over their insurance program structure,"
Mindy Simon, chief operating
officer, Aon. "This broker-led technology enables organizations to
make data-driven decisions to enhance the value of their insurance.
This is just the start of the transformative capabilities Aon will
be delivering to serve clients in making better decisions."
About Aon
Aon plc (NYSE: AON)
exists to shape decisions for the better — to protect and enrich
the lives of people around the world. Through actionable analytic
insight, globally integrated Risk Capital and Human Capital
expertise, and locally relevant solutions, our colleagues provide
clients in over 120 countries and sovereignties with the clarity
and confidence to make better risk and people decisions that help
protect and grow their businesses.
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SOURCE Aon plc