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ADAPTAon Digitized Application Platform
TEAM 1:
Patrick Connell | Nilufer Durak | Karen Hall | Wendy Kacer | Paul Kim | Michael Loughran
Sponsors: Steve Keogh | Ann Weaver | Mark Tainton
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The Challenge
Operational Excellence Initiative: Client experience: ensure services efficient and timely
Operating efficiency: reduce waste and redundancy in operations
IT & Process simplification: reduce overlapping systems
Real Life Drivers of E&O Claims at Aon:
Failure to identify changes to Insurance Applications
Failure to confirm underwriter received Insurance Applications
Risk Intelligence:
No systematic capture of Insurance Application data
$667K new business required to replace $100K spent onone E&O claim
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Pre-Placement Placement Post-Placement
Improve Aons profitability
Increase value to Aons clients
Strengthen Aon's thought leadership position
The Long Term Vision
Leverage the power of Aons data to provideworld-class risk advice driving new revenue opportunities
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Create value chain
Capitalize on efficiencies
Enhance Aons value to the Client
Pilot: FSG Mid-Market
Targeted Project Focus
Pre-Placement Placement Post-Placement
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The Opportunity
Data is one of the most valuable assets a company owns
Enhance client experience and Aon value throughdigitized Insurance Application process
Streamline process through online data entry Capture and retain data:
Client and Aon access and reuse data
Aon leverages data for mining and risk intelligence
Increase Aons ability to focus on risk advice
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Inefficient for both Client and Aon
Manual process to complete, review and submit
Multiple applications required with common data points
Valuable data not leveraged - captured on paper only
Current Insurance Application Process
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Solution - ADAPTAon Digitized Application Platform
Client Aon Carriers
Mining / Risk
Intelligence
Opportunity
Broker(s)AE
ATD - Broker`s Window
ADAPT
Enhancement to Account Team Desktop (ATD) system
Client leverages system workflow to complete and submit application online
Client reuses data for renewals
Aon electronically captures pre-placement client information
Aon reviews and submits insurance application online
Data captured enriches Aons data repository for mining / Risk Intelligence
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How ADAPT Meets The Challenge
SupportsOperational Excellence Initiative : Streamlines the process, reducing waste and redundancy
Allows Broker to focus on risk advice and client value
Enhancement to existing ATD system
Reduces E&O Exposure
ADAPT will:
notify clients of form changes
document client involvement
track underwriter's receipt of application
Facilitates Risk Intelligence:
Comprehensive pre-placement data enriches Aons data repository
ADAPT promotes Aons Leadership Model, delivering value
and impact to clients
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Investment / Return Projections
Projections based on Pilot (FSG MM)
Revenue Forecast (5 Year)
$1.7k
Internal Rate of Return:
19%
Payback (in years):
3.3
ADAPT rolls out to all FSG
Client base 3X greater Incremental expense investment
Significant revenue potential
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Questions?
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ADAPT Promotes Aons Leadership Model
Client Value
Improved client experience
Proactive broking capability
Robust decision-making support
Business Results Improved income stream
Enhanced risk consulting capability
Reduced waste & redundancy
Reduced E&O claims
Innovation
Replaces inefficient manual process
Enriches data for future miningcapabilities