Aon plc (NYSE: AON), the leading global professional services firm providing a broad range of risk, retirement, reinsurance and health solutions, has been recognized with four awards from ACORD, the insurance industry's standards and technology organization.
ACORD awards are presented to organizations and individuals that have demonstrated outstanding achievement in implementing ACORD Standards, which help organizations conduct business more efficiently, both internally and externally.
Aon’s Reinsurance Solutions business received the ACORD Global Citizen Award, recognizing firms that assist ACORD in globalization initiatives by opening up new opportunities for ACORD in regions where there is little or no ACORD adoption, or by expanding ACORD use across geographies worldwide. Aon’s Reinsurance Solutions business was honored for its continued expansion and global use of the ACORD Standards in its Ruschlikon ACORD messaging implementations, improving the overall effectiveness and efficiency of back-office processing.
Aon’s Reinsurance Solutions business was also presented with the ACORD Leadership Award, which recognizes organizations that demonstrate leadership effectively in the areas of Standards development, advocacy, and/or implementation. In this area, the firm was honored for having gone above and beyond in guiding the insurance industry towards greater clarity in the secure transmission of re/insurance data, as well as its continued leadership and ongoing efforts in encouraging global partner acceptance and use of these Standards.
Bob Olson, Chief Information Officer for Aon’s Reinsurance Solutions business, said: “We are honored to have been recognised by ACORD. Aon is committed to advancing digital standards that streamline the flow and verification of data, and reduce frictional costs across the marketplace. Industry collaboration through ACORD has enabled us to digitize many processes that benefit our clients, and is proving critically valuable as we promote emerging solutions such as blockchain.”
Aon’s Business Services received the ACORD Industry Contributor Award. This award is presented to organizations that have enhanced and extended Standards through donated assets and collaborative efforts for the benefit of the ACORD community and the industry at large. The team received the award for their pilot work with Zurich North America, and premium accounting reconciliation using the ACORD i-Verify engine to identify inconsistencies early in the process to allow ease of reconciliation processing and streamline straight-through processing of policies and payments.
Lars Thomas, Managing Director of Aon’s Business Services, was recognized with an ACORD Individual Industry Leadership Award for his leadership in the Aon/Zurich premium accounting reconciliation pilot project and his involvement with ACORD. The pilot’s success will drive implementations of the ACORD Global Reinsurance and Large Commercial Standards in the Large Commercial sector in North America.
Mr. Thomas said: “This industry effort to leverage a secure blockchain solution to automate the premium accounting reconciliation effort will allow the participating firms to invest additional effort partnering with our clients to address their most pressing risk needs.”
Malou August, ACORD’s Senior Vice President of Standards and Membership said: “Key individuals at Aon, as well as the organization as a whole, have contributed greatly to the ACORD Standards community over the past year. Through Standards implementations, advocacy, and donated assets, they have helped ACORD to meet our members’ needs for efficient and effective data exchange with their trading partners throughout the global insurance industry.”
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.