Analytics – The challenges
In a world where we see risks becoming increasingly complex and volatile, many risk managers still rely on their intuition rather than fact based data to assess risk and market conditions. Aon’s vision was to centrally collect data and develop meaningful analytics from all our global repositories of risk data to facilitate fact based decision making.
The insightful and predictive analytics, help us understand how macro and micro events and related external forces are impacting our clients’ and carriers risk portfolios, as well as our industry in general. Access to up to the minute insurance market data positions us as a ‘first mover’ as crises demand.
Analytics – The opportunity
Analytics gives decision-makers the best possible intelligence about customers, finances, operations, suppliers, and the market. This is why, according to IDC research, business analytics was among the top five investment initiatives in 2012. 72% of large and midsize organizations investing in business analytics in 2012. Other top investment areas include social media and mobility.
Aon established a Global Centre of Excellence in Dublin in 2009 – The Aon Centre for Innovation and Analytics (ACIA). One of ACIA’s key objectives was to build differentiated capability through innovation and so GRIP was born. GRIP (Global Risk Insight Platform) is a suite of business intelligence solutions that allows our brokers to capture insurance quoting activity centrally and to cooperate in such activities across global markets.
“GRIP is a fundamental shift in the way broking will be done in the future. We have the ability to complement our brokers experience and gut feel with fact-based decision making” Steve McGill, Group President Aon plc.
Analytics – Our People
ACIA is always looking for creative people who are passionate about helping colleagues and clients see and understand data in the most accurate and impactful way possible. We employ people who are naturally comfortable thinking with data and using the latest technical and analytical tools that the market has to offer. As an organization, we are continuously striving to support and harness our people’s creativity by working to identify and solve interesting problems.