AON launched a new suite of risk analyzer tools for insurance brokers

AON launched a new suite of risk analyzer tools that allow brokers in North America to receive exposure data, quantify loss potential and help risk managers make better decisions based on total cost of risk.

Aon’s Property Risk Analyzer is the latest release under Aon Actionable Analytics, which is how the firm brings together its data, tools and analytics professionals to make better decisions.

The tool provides exposure visualizations and models potential losses and simulates the effect of different insurance policy options to determine which risks clients should retain or transfer.

Delivering value to U.S. companies with property portfolios across the world, Aon’s Property Risk Analyzer delivers a modern analytical approach for clients valuing, aligning, articulating and ultimately making risk finance decisions.

Joe Peiser, CEO of Commercial Risk, Aon

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

Joe Peiser, CEO of Commercial Risk, Aon

“By offering these powerful insights, we are enabling clients to make more-informed decisions regarding their risk management and risk financing strategies.”

Aon’s Property Risk Analyzer allows risk managers quick access to:

  • Data quality assessments, which improve model efficacy and consequently price of risk.
  • Modeled results at a location level distinguishing between natural catastrophe-driven exposure and attritional loss exposure.
  • Risk finance options, which allow brokers to explore program structures potentially available in the market across insurance, reinsurance, alternative risk transfer and capital market solutions.
  • Performative testing of insurance structures, which measures the total cost of risk of insurance against other risk transfer solutions.

Aon will also showcase existing and forthcoming analytic tools at RIMS including the firm’s:

  • Casualty Risk Analyzer, which uses a client’s loss and exposure data to evaluate their catastrophic risk potential and optimize their casualty insurance program.
  • Risk Financing Analytics, which helps organizations optimize the balance between risk tolerance and risk transfer decisions across their entire insurance portfolio.
  • Health Risk Analyzer, which allows organizations to model and assess financial risks associated with high-cost medical plan claimants and explore strategies to budget for, manage and reduce high-cost claimant risk.
  • D&O Risk Analyzer, which will test insurance options that help adequately protect directors, officers, and organizations from executive risks.
  • Cyber Risk Analyzer, which will incorporate insights gained from Aon’s Cyber Quotient Evaluation platform to optimize a client’s strategy for managing and transferring cyber risk.

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

Mindy Simon, chief operating officer, Aon

“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.”

Yana Keller  by Yana Keller