Aon Launches Strategy and Technology Group Aiming to Build Resilience for Reinsurers

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

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

“Forward-thinking insurance companies are helping fuel the economy by protecting businesses, governments and communities. To meet the demands of shareholders and society, while delivering sustained growth and profitability in a competitive landscape, insurers need the resiliency and ability to address rising current and future risks,” said Eric Andersen, President of Aon.

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

Through a custom discovery approach, STG creates highly customized solutions that help clients explore profitable opportunities, drive business efficiency and boost financial health, Aon said. Other client objectives 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 global network and insurance industry expertise, STG’s information and software are further enhanced with the ability to execute reinsurance transactions, when needed, to provide a holistic service with practical, implementable solutions. for customers.

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

“The reinsurance industry is facing a wide variety of challenges that put pressure on profitability and create a need to modernize. However, these challenges also offer an opportunity for companies to reinvigorate their business and differentiate themselves in the marketplace,” according to Forrest.

“At STG, we are combining experience and proven results with the energy and ideas of a start-up to create innovative solutions to build more resilient businesses. We fully recognize reinsurers’ need for an industry-embedded, trusted advisor who brings industry knowledge and the ability to execute relevant capital-enhancing transactions,” he added.

STG is a key part of Aon’s approach to serving the insurance industry, led by Andy Marcell. As CEO of Reinsurance Solutions, Marcell oversees both STG and the company’s reinsurance brokerage capabilities while bringing the best of Aon to reinsurance clients.

The team is chaired by Nick Frankland, formerly UK CEO of Aon’s Reinsurance Solutions, who 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 milestone. important milestone in the evolution of STG. She has also made a number of significant senior hires, most notably Forrest and Becky Allison as COO of 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 and casualty and life sectors before expanding into companies looking to match risk and capital, including policyholders, captives, private equity, hedge funds and investors.

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Source: Aon

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