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Aon Hewitt sees threefold increase in clients managing risk online in first half of 2014
NYSE: AON

LONDON, 14 July 2014 – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), has seen a threefold increase in the number of schemes using its online valuation, monitoring and risk analytics system, Risk Analyzer, in the first half of the year.

Risk Analyzer provides real-time financial information to help sponsors and trustees understand, manage and take immediate action in relation to their defined benefit (DB) schemes.  Aon Hewitt has been providing online access to daily scheme funding information since 2005, but in the last six months, the level of assets tracked by the online tool has increased to over £150 billion. 

David Hardern, senior partner at Aon Hewitt, said:
“Our clients are telling us that managing risk and achieving greater stability is at the top of their agenda and that this is the main driver for their increased use of Risk Analyzer.  The sheer volume and complexity of information that trustees and sponsors have to process and act on can be overwhelming.  By giving our clients access to the same system that we use on a daily basis, they are empowered to make more effective and timely decisions to realise greater levels of stability and better outcomes in their schemes.”

Risk management is central to The Pensions Regulator’s latest Code of Practice which calls on trustees to adopt an integrated approach to risk management when designing and monitoring scheme funding solutions.

Michael Maltwood, principal consultant at Aon Hewitt, said:
“The Regulator encourages trustees to have a framework in place to enable them to identify quickly any changes in the scheme environment and balance risks accordingly.  Risk Analyzer is designed to meet this challenge by placing real time information in the hands of trustees, allowing them to monitor scheme assets, liabilities and funding levels. It also offers information to measure the risks being run in the scheme as well as the option to measure ‘what-if?’ scenarios.”

Aon Hewitt’s Risk Analyzer is currently used by over 190 schemes, including 60 with over £500 million of assets each, while the smallest is a scheme of £15 million.

Some of the key features of Risk Analyzer are:
• It can be used  on PCs, tablet devices and smartphones
• Easy set up and use – schemes can be set up within two weeks of requesting access
• It enables sponsors to monitor and assess the risks of all their pension schemes - individually and in aggregate
• Offers the ability to access the same calculation system that Aon Hewitt consultants use when advising clients
• It allows active risk monitoring as part of a flightpath and wider governance framework
• Gives the ability to make quick changes to valuation assumptions and to model different recovery

 

Media Contact:

Colin Mayes                                          Marina Jane Sanchez
Aon Hewitt                                             Capital MSL
01372 733689                                       020 3219 8811
colin.mayes@aonhewitt.com                  marina.jane-sanchez@capitalmsl.com

 

Notes to editors

For more information about Aon Hewitt’s Risk Analyzer visit: http://www.aon.com/unitedkingdom/pension-risk/risk-analyzer.jsp

About Aon Hewitt
Aon Hewitt empowers organisations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organisational and personal performance and growth, navigate risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness.  Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide.  For more information on Aon Hewitt, please visit www.aonhewitt.com.

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About Aon
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/manchesterunited to learn about Aon’s global partnership with Manchester United.

 

 

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