Life Solutions for Insurers
Why is the Life and Annuity Industry so important?
Many rely on protection from Life and Annuity re/insurers to live more confident, secure lives. However, providing this can be challenging due to changes in customer expectations, cost pressures and regulatory requirements. As re/insurers pursue innovation, new sources of growth and optimized balance sheets, they must harness technology with business insight to make better business decisions.
With Aon Life Solutions, Life and Annuity re/insurers can:
- Drive profitable growth by entering new markets, developing new product lines and optimizing existing portfolios.
- Unlock capital through actionable analytics to take control and mitigate risks, such as embedded guarantees.
- Enhance actuarial productivity, efficiency and innovation and achieve reductions on cloud costs, more accurate information for better decisions and improved governance and controls for greater confidence.
How Aon’s Life Solutions Can Help
Aon’s Life Solutions brings a differentiated combination of reinsurance broking capabilities, strategic advice and actuarial expertise – underpinned by technology – to drive success for Life and Annuity re/insurers globally.
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Transaction expertise
Aon’s experience as market-makers has allowed us to gain deep insights into the drivers and financial impacts of transactions while building strong reinsurer relationships to best represent you. We optimize clients’ balance sheets and transfer risk for longevity, mortality, asset, pension risk transfer (PRT) / bulk purchase annuity (BPA), and more.
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Strategic consulting and benchmarking
Our Life experts provide innovative ideas and approaches to growth in a way that is both practical and market-oriented. We deliver market entry plans, provide financial / operational benchmarking, develop capital optimization and distribution strategies (tied agency, bancassurance partnerships), and end-to-end M&A support. Clients also look to Aon to assess, enter, and compete more effectively in PRT/BPA markets globally.
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Technology for data-driven insights
Aon’s Life Risk Modeling Suite provides enterprise solutions for pricing, projections, valuation and hedging. The software leverages a GPU-based high performance modeling engine (PathWise®) and features an integrated end-to-end set of capabilities that delivers speed, automation, and governance for better business decisions.
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Actuarial consulting and transformation
Aon’s Life actuarial consulting team delivers expertise and support across pricing, capital, reserving, risk, in-force policy and reinsurance management, M&A appraisals, and other core actuarial functions. We also advise on actuarial/ finance transformation, process automation and improved operating models.
Capability Overview
Strategy and Technology Group
Aon’s Life Solutions brings a differentiated combination of reinsurance broking capabilities, strategic insights, actuarial expertise, and technology solutions. We provide answers to the industry’s most complex business challenges.
How We Work With Clients:
- Our Life and Annuity industry experts study the market to explore past drivers of success and emerging trends.
- We combine this knowledge with our clients’ unique goals to discover and develop plans for strategic impact.
- Whether we are working with our clients to develop a capital strategy, a plan to improve sales and distribution capability, or implement a financial modelling platform, our Life Solutions team will provide thorough analysis and tailored advice to evaluate potential approaches and impacts before we execute and deliver.
- We are long term partners to our clients and are committed to collaboration, exploration and innovation to meet the challenges of today and address the opportunities of tomorrow.
Why Work with Aon?
- In the last 5 years, Aon has closed more annuity reinsurance transactions of $0.2 - $2B than any other intermediary, with 10 different reinsurers.
- With $4 trillion of assets under management, our collaboration with our Wealth experts means we can also deliver insights into pension risk transfer / bulk purchase annuity markets, enabling more effective assessment and entry strategies to be more competitive.
- We are experts in the implementation and use Aon’s Life Risk Modeling Suite to enable significant savings in cloud-costs related to model execution, actionable analytics and improved efficiency.
Benefits of Partnering with Aon’s Life Solutions
