Aon’s Strategy and Technology Group has launched a pricing platform to assist insurers and drive performance through better risk selection and the use of analytics. 

The group says the platform helps underwriters to easily access data through system integration and allows actuaries to build and update models swiftly to react to market changes. Executive managers can also access near real-time portfolio information.  

“Aon’s pricing platform has global applicability including Australia and New Zealand,” Head of General Insurance at Tyche Aon Sam Worthington tells insuranceNEWS.com.au. 

“It has been selected by global insurers that write business worldwide, in EMEA, the Americas and APAC.” 

Aon says the platform, which uses its Model Builder technology, allows pricing teams to configure web dashboards through drag-and-drop features in minutes instead of days or weeks and provides a choice of calculation engines. It’s aimed at workflows for underwriting all classes of commercial insurance and reinsurance business. 

“Accurate technical pricing is key to insurers’ operational performance and profitability, informing better decisions in an environment of macroeconomic volatility and subdued investment returns,” Aon Strategy and Technology Group Head of Pricing James Gillespie said. 

“It is vital not only for business planning, but also in ensuring the front-line implementation of an insurer’s business plan.”