Aon launches new tools to assist risk managers and brokers

Global re/insurance broker Aon has launched a new suite of risk analysis tools designed to help brokers in North America better understand exposure data, and enable risk managers to make decisions based on total cost of risk.

The tool, which is the latest release under Aon Actionable Analytics, will provide exposure visualisations, model potential losses and simulate the effect of different insurance policy options to determine which risks clients should retain or transfer. 

Aon's Property Risk Analyzer aims to provide risk managers access to data quality assessments and modelled results at a location level distinguishing between natural catastrophe-driven exposure and attritional loss exposure. It will also offer risk finance options, enabling brokers to explore programme structures potentially available in the market and performative testing of insurance structures to measure the total cost of risk of insurance against other risk transfer solutions.

Joe Peiser, chief executive officer commercial risk, Aon said: "Aon's Risk Analyzers expand the risk insights that brokers can provide to advise clients. 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.”

Mindy Simon, chief operating officer, Aon said: "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. 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.”

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