Reinsurance News

Aon partners with UVARA to address infrastructure management risks

2nd August 2019 - Author: Luke Gallin

Re/insurance broker Aon has entered into a strategic alliance with UVARA (formerly BetterGIS), an end-to-end asset mapping and management solution, to help architecture, engineering and construction (AEC) industries across the globe better manage risks.

ConstructionFounded in 2015 by a team of engineers and utility infrastructure professionals, UVARA looks to address the infrastructure management challenge faced by municipalities, educational institutions, utility companies, hospitals and medical centers, and their architecture, engineering, contractor and risk management partners.

The new partnership with Aon is designed to help AEC sectors better manage exposures through the entire lifecycle of an asset, while at the same time eliminate unexpected issues and expensive delays.

Insurance and reinsurance broker Aon’s Global Construction and Infrastructure Group is now featuring the UVARA asset mapping and management solution to their customers, prospects and partners in order to enable smarter planning, design, and operational decisions.

UVARA explains that its all-in-one, cloud-based platform offers full asset visualisation, analytics, reporting and archive capabilities that identify potential risks to project designs, schedules, capital stacks, and maintenance/operations, while at the same time capturing and preserving institutional knowledge.

Aon’s Global Director, Growth, Innovation & Insight, David Bowcott said: “Our goal is to raise awareness about leading construction and asset management technologies that could help reduce risk on-site and educate our clients and the insurance markets. The UVARA Technology Corner Profile gives an overview of their solution, addresses its risk treatment potential, and identifies what insurance policies its implementation could impact.”

Co-founder and Chief Executive Officer (CEO) of UVARA, Michael London, added: “We are thrilled to be partnering with Aon to transform the way the world sees and manages utility infrastructure. As one of the market’s most powerful mapping and visualization technology platforms, UVARA.Cloud is a game-changing risk management solution that helps decision-makers at every step of the acquire-plan-design-build-operate-disposition lifecycle.”

According to an announcement on the strategic alliance, UVARA.Cloud offers the following benefits:

  • Spatially accurate maps and data inform planners, designers, builders and owner/operators about hidden utility infrastructure risks that potentially impact project timelines, budgets, people, and property.
  • 24/7 secure access to digital institutional knowledge, asset maps, reports and contextually linked project documents.
  • Reduced project cycle times and cost, improving accuracy and throughput.
  • Smart reporting that provides real-time budgeting, quantity and time-based replacement costs, informs project prioritization, maintenance reserve and capital reserve calculations, total cost of ownership, and more.
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