Posted on 24 Oct 2011
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation launches a new release of ImpactOnDemand to help insurers with more complex commercial policy structures to visualize exposures, deliver more detailed management reports and enable enhanced portfolio management.
ImpactOnDemand is a highly innovative and versatile platform that allows clients to visualize and quantify their exposures to risk, in addition to performing sophisticated, detailed data analysis to drive insightful business decisions.
ImpactOnDemand assists clients in global individual risk mapping, pre-binding underwriting analysis, risk driver analysis, claims planning and preparedness, post-catastrophe analysis, identifying exposure accumulations around terrorist targets, and a host of other functions.
The new functions, particularly geared at analyzing complex policy structures, include:
• New scaled analysis to quickly identify and evaluate an insurer’s top exposures, with the size of locations in correlation with their value – such as sums insured, location of premiums or losses?
• Thematic mapping for robust portfolio accumulation analysis
• Advanced catastrophe management reporting including trending and model comparison summaries with exposed limit values and modeled losses
• More interactive and enhanced data analysis within the base map – Evaluate portfolio exposures by county, overlay the top 50 exposures and then identify proximity of portfolio hot spots to hazard risks such as hurricanes with data from Tropical Storm Risk (TSR).
• Aon Benfield’s Cat Score® tool is now integrated to help U.S. regions implement pricing and underwriting strategies. Taking advantage of catastrophe model analysis for a unique portfolio, this tool measures the total cost of catastrophe risk, including reinsurance margin and cost of capital, at the customer level prior to binding the policy.
Stephen Mildenhall, chief executive officer of Aon Benfield Analytics, commented: “ImpactOnDemand has continuously evolved since we launched last year to help global insurers boost understanding of their exposures. Incorporating feedback from our clients, we have enhanced the tool to make it even more effective for complex commercial property structures and to allow more detailed reporting to management. By combining technological innovation with hazard data from academic and industry partners, ImpactOnDemand enables better portfolio management in the face of boards, regulators and rating agencies demanding companies to demonstrate a strong grasp of their exposures.”