Ventiv Technology

2 8 | 360º Aon eSolutions were other important goals for Corio, says Van Bijleveld-Tijsseling: "We wanted to have a clear picture of all the insurance policies connected to the company and all the claims affecting the organization—and be able to efficiently link them with properties. By doing this, we can further optimize our insurance program." THE SOLUTION Once committed to implementing a risk management information system, Corio started to investigate appropriate solutions. "For the last eight years, Aon has been our preferred broker, and they introduced us to the RiskConsole system," says Van Bijleveld- Tijsseling. "We were immediately struck by the completeness of the system and the possibilities it would offer Corio. For example, we saw that the reporting tools offered all the insights we needed at different levels across the business. Another example was the possibility of online access by multiple users at all times, which keeps data up to date." Van Bijleveld-Tijsseling reports that the biggest factor in choosing Aon RiskConsole was "The ability to register insurance policies, reconstruction valuations, inspection reports and claims and link them to specific properties. From one system, we could then see all our exposures, risk assessments and claims, without having to look at several different pieces of paper and files." The presence of an Aon eSolutions office in Rotterdam was another deciding factor, since it gave Van Bijleveld-Tijsseling and Corio a direct link to their RMIS provider, independent of brokering services. IMPLEMENTATION Before starting to roll out the solution, Van Bijleveld-Tijsseling worked closely with Aon eSolutions and the risk management representatives from the various Corio business units. Says Van Bijleveld-Tijsseling, "We have a decentralized business structure, so we needed the solution to be perfect from the start; otherwise, we risked having some of the business units abandon our new RMIS." What impressed Van Bijleveld-Tijsseling at the start of the development phase was Aon eSolutions' ability to understand Corio's risk management vision, bring the necessary level of detail in the data into the RMIS, and offer systems design and implementation advice that Corio is one of Europe's largest publicly traded retail property investors and managers. With a €7.3 billion property portfolio and 86 shopping centres in The Netherlands, France, Italy, Spain, Germany, Turkey and Portugal, Corio properties in 2011 attracted more than 410 million customers to a combined gross leasable area (GLA) of almost 1.8 million square meters. As Corio's business grew larger, its insurance portfolio expanded. Therefore, Corio set out to replace its spreadsheet-based method of managing risks with a professional risk management information system (RMIS). CHALLENGES As well as expanding the number of retail shopping centres to 86 in six countries, in 2008, Corio got involved in constructing its own shopping centers. Gerdi van Bijleveld-Tijsseling, Corio's Insurance and Tax Compliance manager, explains the broad spectrum of risks facing the company: "Corio faces a lot of different risks, varying from enterprise risks like bankruptcy of tenants and loss of Corio's reputation; climate change and its influence on our properties; and flood, earthquake or bodily injury to visitors at our shopping centers." In order to deliver a comprehensive international insurance program, Van Bijleveld-Tijsseling works in partnership with Corio's six business units across the Netherlands, France, Italy, Spain, Germany and Turkey to put in place the necessary local and corporate coverage. "Collating data for insurance renewals has always been one of the biggest challenges in Corio's insurance program," says Van Bijleveld-Tijsseling. "The spreadsheet method was time consuming and prone to errors." Providing more insight into insurance policies (Corio participates frequently in co- ownerships that are not insured under Corio's corporate insurance program) and claims

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