UK-based professional services company Aon has launched the Profitable Growth Tool, an advisory service designed to help insurers enhance their performance and market positioning.
Aon’s Strategy and Technology Group developed the tool, which allows insurers to self-evaluate their performance across several categories and provides feedback for actionable improvements.
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The tool identifies seven traits for market performance: capital management, clarity in risk appetite, data analytics, distribution, speed, talent and underwriting.
Aon Strategy and Technology Group global growth leader Paul Campbell said: “We recognised that there was a huge difference between top performers and underperformers so we created the Profitable Growth Tool to focus on the key traits of successful companies and help our clients move towards best-in-class performance and better solutions for policyholders.”
The tool is designed to offer insight that delivers real value to clients, benchmarking their capabilities and providing guidance on how to be a best insurer.
Aon UK CEO Reinsurance Solutions Rupert Moore said: “Through this consultative framework, we explore several important facets of effectively operating an insurance company from optimising capital to boosting talent in order to meet both customer and shareholder demands.”
Aon also highlighted the Maturity Path Model, which offers customised recommendations to support better business decision-making.
Clients can engage with Aon’s experts to discuss growth opportunities and potential threats, and to formulate practical strategies for sustainable, profitable expansion.
In February, Aon introduced a parametric insurance solution to mitigate losses from hurricane-related storm surges in the US.
The product, developed in partnership with Floodbase and Swiss Re, is designed to address coverage gaps in conventional insurance policies.
