Insurance broking giant Aon is bringing together a wide range of insight and solutions by launching a global 400-strong strategy and technology group (STG) led by STG chief executive Colin Forrest.
“Forward-thinking insurance companies are helping drive the economy by protecting businesses, governments, and communities,” said Aon president Eric Andersen. “To meet shareholder and societal demands, while delivering sustained growth and profitability in a competitive landscape, insurers need the resilience and capacity to address increasing current and future risks.
“STG helps facilitate this process for clients, de-risking and futureproofing their businesses to take advantage of the opportunities that exist in today’s volatile environment by making better business decisions.”
According to Aon, STG will initially focus on the property & casualty and life sectors before expanding to cater to those seeking to match risk and capital, such as insureds, captives, private equity, hedge funds, and investors.
Becky Allison, former EMEA (Europe, Middle East, and Africa) operations director for insurance consulting technology at WTW, has come onboard as STG chief operating officer. Chairing STG is Nick Frankland, who hired Forrest and Allison and whose previous roles include UK CEO for Aon’s reinsurance solutions.
“The reinsurance industry is facing a huge range of challenges that are placing pressure on profitability and creating a need to modernise,” stated Forrest, who joined in April from WTW. “However, these challenges also offer an opportunity for companies to reinvigorate their business and differentiate themselves in the market.
“In STG, we are combining experience and proven outcomes with the energy and ideas of a startup to create innovative solutions to build more resilient firms. We fully recognise the need from re/insurers for a trusted advisor embedded in the industry, bringing sector knowledge and the ability to deliver relevant capital-enhancing transactions.”
STG, which Aon developed over the past 12 months, combines strategic consulting with a technology suite to help clients build flexible and resilient enterprise structures aimed at driving strong financial performance.