Aon, the world’s largest insurance brokerage firm, has established a global strategy and technology group (STG) with a headcount of 400. STG chief executive Colin Forrest is in charge of the organization, and he is responsible for bringing together a diverse array of insights and solutions.
According to Eric Andersen, president of Aon, “forward-thinking insurance companies are helping drive the economy by protecting businesses, governments, and communities.” “Insurers need the resilience and capability to address increasing present and future risks in order to meet the needs of shareholders and society, while also delivering sustainable growth and profitability in an environment that is marked by competition.
“STG helps ease this process for customers, de-risking and futureproofing their businesses so that they can take advantage of the opportunities that exist in today’s dynamic market by making more informed business decisions,” stated STG.
According to Aon, STG will initially concentrate on the property and casualty and life segments before increasing its offerings to appeal to people who are looking to match risk and money. These individuals and organizations include insureds, captives, private equity, hedge funds, and investors.
Becky Allison, who most recently served as WTW’s EMEA (Europe, Middle East, and Africa) operations director for insurance consulting technology, has joined STG as the company’s chief operating officer. Nick Frankland, who was formerly the UK CEO for Aon’s underwriting remedies, is currently the chairperson of STG. He is also the one that recruited Forrest and Allison.
Forrest, who came to his new position in April after working at WTW, noted that “the reinsurance business is confronting a huge range of difficulties that are imposing pressure on profitability and driving a need to modernize.” “However, despite their difficulties, these issues also present a chance for businesses to revitalize their operations and distinguish themselves among competitors in the market.
“At STG, we are taking our years of industry knowledge and successful outcomes and fusing them with the vigor and ideas of a startup in order to develop fresh approaches to making businesses more resilient. We are fully aware that re/insurers require a trusted advisor who is embedded in the business, has understanding of the sector, and the capacity to deliver meaningful money activities.
STG, which was developed by Aon over the course of the past year, combines strategic advising with a technology suite in order to assist clients in developing enterprise structures that are both solid and versatile with the intention of delivering excellent business results.