IPMI Magazine Travel Insurance, Private Medical and Health Insurance News LONDON, 24 October 2011. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation (NYSE:AON), 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:
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.”
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