ADAPT

Aon Digitized Application Platform

TEAM 1:
Patrick Connell | Nilufer Durak | Karen Hall | Wendy Kacer | Paul Kim | Michael Loughran
Sponsors: Steve Keogh | Ann Weaver | Mark Tainton

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The Challenge
 Operational Excellence Initiative:
– Client experience: ensure services efficient and timely
– Operating efficiency: reduce waste and redundancy in operations
– IT & Process simplification: reduce overlapping systems

 Real Life Drivers of E&O Claims at Aon:

– Failure to identify changes to Insurance Applications
– Failure to confirm underwriter received Insurance Applications

 Risk Intelligence:
– No systematic capture of Insurance Application data

$667K new business required to replace $100K spent on

one E&O claim
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The Long Term Vision
Leverage the power of Aon’s data to provide
world-class risk advice driving new revenue opportunities

Pre-Placement Placement Post-Placement

 Improve Aon’s profitability

 Increase value to Aon’s clients
 Strengthen Aon's thought leadership position

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Targeted Project Focus

Pre-Placement Placement Post-Placement

 Create value chain

 Capitalize on efficiencies
 Enhance Aon’s value to the Client
 Pilot: FSG Mid-Market

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The Opportunity

Enhance client experience and Aon value through

digitized Insurance Application process

 Streamline process through online data entry

 Capture and retain data:
– Client and Aon access and reuse data
– Aon leverages data for mining and risk intelligence
 Increase Aon’s ability to focus on risk advice

Data is one of the most valuable assets a company owns…

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Current Insurance Application Process

Client Aon Carrier(s)

CFO Carrier 1

Carrier 2

HR AE Insurance Broker(s)
Applications

Carrier 3

Legal

 Inefficient for both Client and Aon

– Manual process to complete, review and submit
– Multiple applications required with common data points
 Valuable data not leveraged - captured on paper only
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Solution - ADAPT
Aon Digitized Application Platform
Client Aon Carriers

AE Broker(s)

CFO Carrier 1
ATD - “Broker`s Window”

ADAPT Carrier 2
HR

Carrier 3
Legal

Mining / Risk
Intelligence
Opportunity

 Enhancement to Account Team Desktop (ATD) system

 Client leverages system workflow to complete and submit application online
 Client reuses data for renewals

 Aon electronically captures pre-placement client information

 Aon reviews and submits insurance application online

 Data captured enriches Aon’s data repository for mining / Risk Intelligence 7
How ADAPT Meets The Challenge
 Supports Operational Excellence Initiative :
– Streamlines the process, reducing waste and redundancy
– Allows Broker to focus on risk advice and client value
– Enhancement to existing ATD system
 Reduces E&O Exposure
ADAPT will:
– notify clients of form changes
– document client involvement
– track underwriter's receipt of application
 Facilitates Risk Intelligence:
– Comprehensive pre-placement data enriches Aon’s data repository

ADAPT promotes Aon’s Leadership Model, delivering value

and impact to clients
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Investment / Return Projections

Projections based on Pilot (FSG MM)

 Revenue Forecast (5 Year)
• $1.7k
 Internal Rate of Return:
• 19%
 Payback (in years):
• 3.3
ADAPT rolls out to all FSG
 Client base – 3X greater
• Incremental expense investment
• Significant revenue potential

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Questions?

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ADAPT Promotes Aon’s Leadership Model

 Client Value
– Improved client experience
– Proactive broking capability
– Robust decision-making support
 Business Results
– Improved income stream
– Enhanced risk consulting capability
– Reduced waste & redundancy
– Reduced E&O claims
 Innovation
– Replaces inefficient manual process
– Enriches data for future mining
capabilities

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