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October 22, 2019

Aon launches new group to better serve regional insurers in US

British brokerage firm Aon has established a new group, known as Regional Insurer Group (RIG), to better regional insurance companies in the US.

The business division will provide underwriters with actionable insights so that they recognise and tap growth opportunities.

Also, the RIG will enable regional insurers to promote operational efficiency by reducing instability and helping them to use their capital in more efficient manner.

Aon RIG president Brad Melvin said that that regional insurers write more than $115bn in direct gross written premium per annum in the US alone.

“In launching RIG we are increasing the value Aon can bring to this segment,” Melvin said.

“Through our Regional Insurer Group (RIG) we are able to more closely partner with our clients, not only in risk transfer, but also in other key areas such as retirement, talent, health, and data and analytics,” Melvin concluded.

Aon reinsurance solutions business CEO Andy Marcell stated that the RIG would enable Aon better understand its clients’ business requirements.

“The pace of change is accelerating in all industries, especially insurance, and we see a tremendous opportunity to invest in more capabilities and talent to further align with the needs of regional insurers,” Marcell added.

Aon noted that it will also explore the option of rolling out the service in other markets as well.

Last month, Aon has introduced an AI-powered claims analysis platform that enables insurers to accelerate their claims processing and improve customer experience.

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