Aon Launches Strategy and Technology Group, Aiming to Build Re/Insurer Resilience



Aon plc, the global professional services firm, has launched a Strategy and Technology Group (STG) to bring together a wide range of expertise and technology solutions — designed to help property & casualty and life re/insurance clients build resilience.

Developed over the past yea’r with a 400-strong global team, STG combines strategic consulting – including claims efficiency, performance benchmarking, market share data/trends, actuarial analysis, and capital structuring and access – with a technology suite, including Tyche, ReMetrica and PathWise. One aim is to help clients deploy capital efficiently and effectively across an enterprise, said Aon.

“Forward-thinking insurance companies are helping drive the economy by protecting businesses, governments and communities. To meet shareholder and societal demands, while delivering sustained growth and profitability in a competitive landscape, insurers need the resilience and capacity to address increasing current and future risks,” commented Eric Andersen, president of Aon.

“STG helps facilitate this process for clients, de-risking and futureproofing their businesses to take advantage of the opportunities that exist in today’s volatile environment by making better business decisions,” Anderson added.

Through a tailored discovery approach, STG creates highly customized solutions that help clients explore profitable opportunities, boost enterprise efficiency and drive financial health, Aon said. Further client goals addressed by STG include expanding geographies and products, adding value to share price, simplifying organizational structures, developing peer benchmarking and building a workforce for the future.

Combined with Aon’s insurance industry expertise and global network, STG’s insight and software are further enhanced by the ability to execute re/insurance transactions, where needed, to provide a holistic service with practical, implementable solutions for clients.

Colin Forrest leads STG as the group’s chief executive officer, and was previously EMEA leader of WTW’s Insurance Consulting & Technology (ICT) practice.

“The re/insurance industry is facing a huge range of challenges that are placing pressure on profitability and creating a need to modernize. However, these challenges also offer an opportunity for companies to reinvigorate their business and differentiate themselves in the market,” according to Forrest.

“In STG, we are combining experience and proven outcomes with the energy and ideas of a start-up to create innovative solutions to build more resilient firms. We fully recognize the need from re/insurers for a trusted advisor embedded in the industry, bringing sector knowledge and the ability to deliver relevant capital-enhancing transactions,” he added.

STG is a key part of Aon’s focus on serving the insurance industry, led by Andy Marcell. As CEO for Reinsurance Solutions, Marcell oversees both STG and the firm’s reinsurance broking capabilities while bringing the best of Aon to clients in this sector.

The team is chaired by Nick Frankland – previously UK CEO for Aon’s Reinsurance Solutions – who has brought together a number of Aon’s capabilities and drove the acquisition of Tyche’s financial modeling platform in March 2022, which was also a significant milestone in STG’s evolution. He also has made a number of significant senior hires, principally Forrest and Becky Allison as chief operating officer for STG, who brings a wealth of experience from her long-standing role as COO within WTW’s EMEA ICT practice.

The group will initially focus on the property & casualty and life sectors before expanding across companies seeking to match risk and capital including insureds, captives, private equity, hedge funds and investors.

Source: Aon

Topics
Carriers
Tech
Reinsurance
Aon

Interested in Carriers?

Get automatic alerts for this topic.



Source link