Ventiv Technology

360º | Aon eSolutions 1 7 Please contact Angus Rhodes on + 44(0) 20 7882 0916 or email angus.rhodes@aon.co.uk for more information transparent allocation model also encourages a philosophy of individual responsibility for each division. FEATURES OF THE MODULE Inputs for the allocation model, allowing for the total costs of allocation, include insurance costs, retained losses and administrative costs. Data elements can be weighted for importance as to exposure measure (including turnover, number of employees and property value), claims experience and risk factor, to be factored in automatically to the analysis. After applying constraints of minimum premium and the premium variation limit, and comparing the prior year's allocation, allocations are appropriately assigned to each division. ADDITIONAL BENEFITS Along with a more comprehensive view of allocations, the RiskConsole Premium Allocation module provides increased risk awareness for improved risk management and safety incentives. It also provides an environment that can meet corporate governance requirements for auditability and helps support tax compliance. Business units readily see the correlation between risk, claim experience and premium allocations and their role in influencing their own premium level. As any handyman knows, the right tool makes any job easier. The same is true for renewals and Aon eSolutions RiskConsole offers the right tool for this critical process. RiskConsole has taken much of the drudgery and guesswork out of the renewal process by streamlining data collection and access to vital information needed for preparing a comprehensive market submission. Traditionally, renewals are addressed once a year, often through a manual spreadsheet process that offers little opportunity for historical comparison and accuracy validation. It can be a time-consuming exercise that compounds complexities such as multiple currencies or languages, for example, for an international company. Often, just collecting the information takes a great deal of time and effort to investigate resources and check data. Many of the automated features of the RiskConsole Renewal Module expedite renewals while offering validation and distribution of data to the appropriate business areas along the way. HOW IT WORKS A questionnaire style of collecting new record details is RiskConsole's user- friendly way of integrating new data from each division. Each business division receives the appropriate module to capture their data values (e.g. property module for property values) along with instructions and login details. The risk manager can then review the results, validate them and approve them to be loaded into the relevant modules. Spreadsheets are eliminated and questionnaires are easily sent to the business area. They are logical and easy to quickly and comprehensively complete. During the review of the data, the risk manager is alerted to any large variances in figures. To aid in the data collection process, automatic email reminders of due dates are sent to users, so that managers are relieved of chasing down information. Renewal reports and analysis can be generated to highlight important variations, such as year-on-year exposure and expiring value movements. Organizations using the RiskConsole Renewal module report having a more engaged renewal participant team that responds quickly to the less cumbersome process, and risk managers with added confidence in the accuracy of their renewal data. THE RIGHT TOOL MAKES THE DIFFERENCE Renewals Simplified Product Three: Renewals AON ESOLUTIONS RISKCONSOLE OFFERS THE RIGHT TOOL FOR RENEWALS Angus Rhodes on +44 0 207 882 0916 or email angus.rhodes@aon.co.uk for more information

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