Aon puts future risks under the underwriting microscope
Aon has launched Underwriting Analytics, a new capability within its Risk Analytics Platform that helps re/insurers evaluate the impact of future risks on portfolios before capacity is deployed.
The solution enables clients to understand how new business would interact with existing accumulations, supporting underwriting, portfolio management and capital allocation decisions.
The company said that as insurers enter the reinsurance renewal season, Underwriting Analytics helps connect underwriting and reinsurance decisions, enabling clients to shape portfolios, deploy capital more effectively and underwrite with confidence by:
• Seeing risk more clearly - Aon's Global Hazard Scores, underpinned by Impact Forecasting expertise, helps insurers identify concentrations and emerging exposures through a global view of risk.
• Making better informed underwriting decisions - Insurers can assess individual locations, including building characteristics and hazard susceptibility, to better understand risk at the point of underwriting.
• Growing within your risk appetite - Insights at the location, policy and portfolio level help insurers evaluate growth opportunities while remaining aligned with their risk discipline.
Powered by Aon's Global Hazard Scores and drawing on the expertise of its Impact Forecasting catastrophe model development team, the solution provides a globally-consistent view of risk, combining portfolio context, accumulation insights and location-level intelligence. This allows clients to better understand the characteristics of individual risks and their impact on the wider portfolio – supporting more informed underwriting, pricing and capacity deployment decisions.
“The challenge is not simply growing premium, but adding the right premium in a way that matches an insurer’s unique risk appetite and drives profitable growth is harder,” said George Attard, chief strategy officer and global head of analytics, Reinsurance, Aon.
“Underwriting Analytics removes the guesswork, enabling insurers to confidently assess how a risk impacts accumulations and whether it improves portfolio diversification. This reflects Aon’s continued commitment to investing in innovative solutions that help clients turn volatility into opportunity.”
Underwriting Analytics is delivered through Aon's Risk Analytics Platform, a model-agnostic environment that brings together catastrophe data, vendor models and Aon insight to help insurers better understand accumulations, align risk appetite and navigate volatility.
Working alongside Aon’s Event Analytics, the platform provides clients with a connected ecosystem of analytics capabilities through a single access point and will continue to expand with new capabilities focused on helping insurers better understand and manage digital infrastructure exposures, Aon said.
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