Aon Updates Pricing Platform to Drive Better Underwriting Decisions

Underwriters can quote faster, portfolio managers can access strategic insights, teams can align governance and control process with corporate policy, and actuaries can build and update models rapidly.

(Image source: Aon Strategy and Technology Group homepage.)

Aon plc (London), a global professional services firm, has announced an update to its Pricing Platform that the company says will 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.

Sam Worthington, managing director, Strategy and Technology Group, Aon.

Aon describes its Pricing Platform as delivering 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 the following, as described by Aon:

  • 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;
  • 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,” comments Sam Worthington, managing director, Strategy and Technology Group, Aon.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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