Insurance broker Aon plc announced an update to its Pricing Platform that aims to bring enhanced visualization and automation capabilities to re/insurance underwriters. The software update has also added new business lines including U.S. Financial lines and Cyber, as well as geospatial mapping technologies.
Aon’s Pricing Platform delivers near real-time insights for insurers to identify market trends and react swiftly to manage portfolio profitability. Launched in 2023 by Aon’s Strategy and Technology Group, the Pricing Platform delivers tailored workflows for underwriting all classes of commercial insurance and reinsurance business. Key stakeholders adopting the Pricing Platform receive benefits including:
- Underwriters quote faster and improve risk selection by accessing the data they need at their fingertips;
- Portfolio managers access insights to pivot strategy and take advantage of profitable opportunities;
- IT teams can align the governance and control process around development with corporate policy;
- Actuaries build and update models swiftly to react to market changes.
“This Pricing Platform update represents a further step for technology and automation to improve underwriting performance, and in turn helps clients to manage volatility, improve resilience, and ultimately make better business decisions,” commented Sam Worthington, managing director in Aon’s Strategy and Technology Group.
Topics InsurTech Tech Underwriting Aon
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