Implementations in Insurer Market Increased by 117% in the Past Year
SAN RAMON, Calif., Oct. 1 2008 — Aon eSolutions, the client technology arm of Aon Corporation (NYSE: AOC) and a leading provider of global risk and insurance solutions, today announced the launch of the iVOSc Carrier Edition, a version of iVOS specifically designed for property & casualty insurance companies. iVOS is Aon eSolutions’ browser-based insurance system that incorporates claims administration, medical bill review, event management, document imaging, policy underwriting and case management capabilities into one integrated solution.
Recognizing that insurance companies face specific challenges, the iVOSc Carrier Edition will enable insurers to transform their business operations and modernize their technology platforms. With iVOSc Carrier Edition, insurers have a complete solution to support unique business strategies, design competitive products, and respond to increased customer and producer demands. To efficiently comply with today’s latest regulatory requirements, iVOSc also provides sophisticated auditing and reporting tools.
The iVOSc Carrier Edition offers three core modules that can be customized to meet any insurer’s workflow, process and business needs:
- iVOSc Policy Administration Module offers a wide array of system capabilities that assist insurance companies in processing and administering policies, as well as underwriting and rating coverage.
- iVOSc Claims Management Module is designed to manage a complex claims operation with sophisticated scheduling, automation and workflow tools.
- iVOSc Billing Module represents a complete billing solution, providing a full range of capabilities for both customer and producer billing needs.
Insurers can leverage iVOSc as an integrated “one-system” solution or select the individual modules according to their specific system requirements.
“The iVOSc Carrier Edition has insurance intelligence built in,” said Randy Wheeler, managing director of Aon eSolutions. “In the past, mission-critical information and best practices resided in the minds of insurance professionals or in paper-based files, unable to be leveraged across the entire enterprise. Working closely with insurance companies, we’ve engineered insurance intelligence — that is insurers’ unique knowledge and procedures — into the product, so out of the box you have this great solution.”
Aon eSolutions has a long track record of success and growth in the insurer marketplace. Since the inception of the flagship iVOS product, the system has been implemented and utilized at leading insurance companies. Over the past year, implementations increased by 117 percent in the insurer market alone.
“Insurance companies have highly complex system environments, and IT departments are being stretched to do more with less,” said James Wedster, vice president of development at Aon eSolutions. “We developed the carrier edition with the iVOSc Enterprise Platform. This platform is highly adaptable and provides IT groups with the ability to configure and customize the system at the finest levels to meet their companies’ unique business needs.”
The iVOSc Enterprise Platform includes four component sets that IT departments can leverage:
- iVOSc Developer Set empowers IT departments with maximum system control.
- iVOSc Integration Set provides a complete set of connectors to enhance system integration.
- iVOSc Rules Engine Set offers both embedded and third-party rules to automate workflow.
- iVOSc Reporter Set enables insurers to report on and analyze data to improve profitability, growth and performance.
Aon eSolutions is the client technology solutions arm of Aon Corporation. We provide innovative products, services and solutions to meet the diverse and varied needs of risk and insurance professionals. Our best-in-class systems — iVOS, RiskConsole, AonLine, and SafetyLogic — provide an unparalleled and integrated risk and insurance technology suite. This award-winning technology streamlines business processes and optimizes resources through a personalized and configurable approach and has resulted in measurable value for our clients. For more information on Aon eSolutions, log onto http://www.aon-esolutions.com/.
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world’s best broker by Euromoney magazine’s 2008 Insurance Survey. In 2008, Aon ranked highest on the Business Insurance ranking of the world’s largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues. Aon also was ranked by A.M. Best as the number one insurance broker based on brokerage revenues in 2007 and 2008, and was voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.