Aon Establishes Strategy and Technology Group, Uniting Key Capabilities to Optimise Clients' Operational and Financial Performance

Rhea-AI Summary

Aon plc (NYSE: AON) has launched its new Strategy and Technology Group (STG), designed to enhance the resilience of clients in the re/insurance sector. The group combines strategic consulting and advanced technology solutions, including software tools like Tyche, ReMetrica, and PathWise. STG aims to help insurance companies improve financial performance and efficiency amidst increasing market challenges. With a dedicated team of 400 experts, STG will focus initially on property & casualty and life sectors while leveraging Aon's extensive industry experience.

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• Launch of the Strategy and Technology Group (STG) to enhance client resilience.
• STG combines strategic consulting and technological solutions, improving operational efficiency.
• Involvement of a 400-member global team with diverse expertise to support clients.
• Focus on tailored solutions to address profitability and operational challenges in the re/insurance industry.

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• None.

New global 400-strong team combines expertise and technology to build re/insurer resilience

LONDON, Sept. 7, 2022 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today 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.

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. As companies seek to deploy this capital, they face numerous regulatory and operational constraints; Aon's data-driven tools provide the platform to respond with confidence through better informed decisions.

Eric Andersen, president of Aon, said: "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."

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.

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. Forrest said: "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."

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 modelling platform in March 2022, which was also a significant milestone in STG's evolution. He has also 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.

For more information on Aon's Strategy and Technology Group, please visit https://www.aon.com/stg

About Aon 
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.

Media Contact
Andrew Wragg 
+44 (0) 7595 217168 
andrew.wragg@aon.com 

Aon UK Limited is authorised and regulated by the Financial Conduct Authority for the provision of regulated products and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500.

 

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SOURCE Aon plc

FAQ

What is the purpose of Aon's new Strategy and Technology Group (STG)?

The STG aims to combine strategic consulting and technology solutions to help clients in the re/insurance sector improve resilience and financial performance.

What technological tools are included in Aon's STG?

The STG utilizes software tools such as Tyche, ReMetrica, and PathWise to enhance clients' capital deployment and operational efficiency.

When was Aon's Strategy and Technology Group launched?

Aon's Strategy and Technology Group was introduced on September 7, 2022.

Who is leading Aon's Strategy and Technology Group?

Colin Forrest is the chief executive officer leading Aon's Strategy and Technology Group.

Which sectors will Aon's STG initially focus on?

The STG will initially focus on the property & casualty and life insurance sectors.