Aon establishes Strategy and Technology Group
Aon plc introduced its new Strategy and Technology Group (STG) to “bring together a wide range of insight and software solutions to help property & casualty, life insurance and reinsurance clients build flexible and resilient enterprise structures that drive strong financial performance.” 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.
Developed over the past 12 months, 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, that helps clients deploy capital efficiently and effectively across an enterprise.
“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. 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.” – Eric Andersen, president of Aon.
Through a tailored discovery approach, STG creates ‘highly customized solutions’ that help clients explore profitable opportunities, boost enterprise efficiency and drive financial health. 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.
“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. 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.” – Colin Forrest, CEO of STG.