Aon releases risk analysis tools
A new suite of property risk analysis tools designed to help risk managers make decisions based on total cost of risk has been launched by global re/insurance broker Aon.
The tool, which Aon says is "just the start" of a series of data-driven tools, 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 Analyser 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 added: "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.”
