Global insurance broker Aon Corp. is taking what it says is its most significant step ever in realigning its brokerage operations to meet its retail clients’ needs for access to insurance markets, risk transfer options and risk management services.
The firm is calling the strategy Aon Broking and it is being made available to customers of Aon Risk Services, the firm’s retail brokerage operation. The new strategy is designed to ensure clients around the world all benefit from the full range of broking resources Aon provides, and get access to the best insurance solutions and markets for their specific needs.
According to the firm, the approach combines three key elements:
- A connected network of broking hubs in major insurance centers, giving clients local access to global expertise
- Global specialty businesses serving the needs of industries with specific needs
- Seamless access to the full range of risk financing solutions, including facultative reinsurance where appropriate
This restructuring is underpinned by the firm’s technology platform, Aon GRIP, which promises all clients real-time access to insurance solutions and to the firm’s worldwide placement activities.
“Our primary focus is always to ensure that our clients can access the insurance markets that best fit with their particular business objectives,” said Steve McGill, chairman and chief executive officer of Aon Risk Services. “This new approach takes that principle to another level, enabling us to consistently ensure that each of our clients can access the widest range of risk transfer options any broker can offer, all through their local Aon team.”
The strategy will be supported by a management team that includes Warren Mula, who has been appointed chief executive officer for retail and specialty broking within Aon Risk Services, reporting to McGill. He will retain his role as chairman of Aon Risk Services U.S. Retail.
Elliot Richardson will serve as chief executive officer of the Aon broking hubs and of Aon Risk Services’ facultative broking operations, also reporting to McGill. Richardson will also retain his role as chief executive officer of Aon Benfield Fac, where he reports to Andrew Appel, chief executive officer of Aon Benfield.
“The creation of Aon Broking is the most significant step Aon has undertaken in broking, and incredibly exciting as it will create an even more coordinated approach, give our clients even more choice and further strengthen our relationships with key markets so that we can deliver the best possible solutions to clients,” said McGill.