Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has won a prestigious award for its innovative use of technological solutions.
The firm was named Model Insurer by international strategy consultant Celent at its awards ceremony in New York yesterday. The award acknowledged Aon Benfield’s FAConnect platform – a proprietary placement facility that allows clients to manage their own facultative risk placements via an internet-enabled device.
Since its launch in January 2010, FAConnect has gained more than 350 users, who have completed over 2000 transactions across the platform. The tool has allowed Aon Benfield to participate in a line of business that was previously uneconomical for the firm due to high frictional costs.
Celent recognized that FAConnect had helped to open new markets to the benefit of Aon Benfield clients.
Dawnmarie Black, Aon Benfield Fac head of global products, who has pioneered FAConnect, said: “We are extremely proud to have been recognized as a model insurer by Celent. FAConnect was designed to bring a greater choice of markets to our facultative clients, securing them better pricing, terms and conditions on their risk placements. It is highly gratifying to receive a third party endorsement of our work in developing the platform, so many thanks to all those who voted for Aon Benfield.”
Mike Fitzgerald, a senior analyst in Celent’s insurance practice, said: “In today’s economic environment, the winning firms are the ones who leverage all available resources to the maximum to meet market challenges,” said. “Aon Benfield was selected as a Model Insurer because of the firm’s best practices in the use of standards, improved channel integration, and optimization of infrastructure.”
Source : Aon Benfield Press Release
