Aon, the insurance and reinsurance broking and professional services firm, has launched a new capability within its Risk Analytics Platform, Underwriting Analytics, designed to help re/insurers evaluate the impact of future risks before capacity deployment.
The new tool helps in making underwriting and reinsurance decisions, enabling clients to shape portfolios and deploy capital more effectively by explaining how new business would interact with existing accumulations.
Underwriting Analytics is a model-agnostic environment that brings together catastrophe data, vendor models, and Aon insight.
It works alongside Aon’s Event Analytics; the platform provides clients with a connected ecosystem of analytics capabilities through a single access point and will continue to expand with new capabilities focused on helping insurers better understand and manage digital infrastructure exposures.
As insurers enter the reinsurance renewal season, the broker hopes that the solution, which is powered by Aon’s Global Hazard Scores and draws on the expertise of its Impact Forecasting catastrophe model development team, will provide a globally consistent view of risk, combining portfolio context, accumulation insights and location-level intelligence.
The additional tool will help clients make better-informed underwriting decisions, as insurers can assess individual locations, including building characteristics and hazard susceptibility, and grow within their risk appetite.
George Attard, Chief Strategy Officer and Global Head of Analytics, Reinsurance, Aon, commented, “The challenge is not simply growing premium, but adding the right premium in a way that matches an insurer’s unique risk appetite and drives profitable growth is harder. Underwriting Analytics removes the guesswork, enabling insurers to confidently assess how a risk impacts accumulations and whether it improves portfolio diversification. This reflects Aon’s continued commitment to investing in innovative solutions that help clients turn volatility into opportunity.”
