Aon plc, a global professional services firm, has announced the launch of a new climate innovation hub in Singapore. The hub is supported by the Singapore Economic Development Board (EDB), to help Aon’s clients around the world navigate environmental risks and opportunities.
Aon has a longstanding commitment to Singapore. The firm plans to invest in the course of the next 10 years to further enhance its data, analytics, insights and solutions to better advise clients on emerging and evolving risks that are increasingly complex and interconnected.
Greg Case, the CEO of Aon said, “Climate change is a reality, not a probability. In 2022, there were $313 billion in total economic losses from natural disasters globally—$299 billion of which was the result of weather and climate events. The acceleration of innovation and digitalisation will continue to influence the future of business. We look forward to working closely with the EDB to identify local talent, pursue innovation at scale and develop new solutions that help our clients make better-informed decisions around the world.”
Additionally, Aon plans to grow its Centre for Innovation and Analytics (ACIA) in Singapore, from nearly 180 colleagues to more than 350 colleagues at the same time.
Aon plans to further advance its capabilities in several areas to help meet the needs that organisations of all sizes face including navigating new forms of volatility, modelling emerging long-tail risks, with an emphasis on climate, and building predictive models and digital solutions.
Png Cheong Boon, the Chairman of EDB said, “Aon’s climate innovation hub will complement Singapore’s growing ecosystem of sustainability solutions providers that can help businesses meet their climate commitments, support their energy transition and explore green growth opportunities. We look forward to partnering with Aon on this initiative and to bring together Aon’s expertise and Singapore solutions providers to develop new and innovative solutions to tackle climate and sustainability challenges.”
Aon plans to develop best-in-class global solutions based on its capabilities to digest, analyse and innovate leveraging data across the global insurance value chain. The company wants to create scalable workforce solutions through advanced digital technologies and analytics. While providing access to new solutions to all types of organisations, through rapid deployment and scalable insurance solutions built on digital platforms.
Anne Corona, the CEO of the Asia Pacific region at Aon, added, “Singapore is a leading innovation centre and a global leader on climate and resiliency; therefore, it is fitting that we establish our new climate hub here. Through this hub, Aon will be able to provide better analytical capabilities and solutions, which will allow clients to have greater clarity and confidence to shape decisions that protect and grow their businesses. Aon will bring together the best of the firm and the expertise in Singapore to innovate to address new and emerging risks in climate, ESG, workforce resilience, digital client solutions and other key risk and human capital challenges.”
ACIA will be a cornerstone of Aon’s global investment in digital solutions and analytics. The firm builds advanced analytical capabilities, through the combination of technologies, extensive data sources and data science capabilities.
The hub will design and develop insightful data and analytics solutions to support Aon’s colleagues and clients globally.