logo
  Join        Login             Stock Quote

Aon Risk Maturity Index earns Business Insurance Innovation Award

Wednesday, March 21, 2012 1:30 PM


Tool empowers risk and finance leaders to assess development and implementation of risk management structure

CHICAGO, March 21, 2012 /PRNewswire/ -- Business Insurance magazine recently recognized Aon Risk Solutions, the global risk management business of Aon Corporation (NYSE: AON), with a 2012 Innovation Award for the Aon Risk Maturity Index, a proprietary online tool created to empower risk and finance leaders to assess the level of development and implementation of their organization's risk management structure.

(Logo:  http://photos.prnewswire.com/prnh/20100719/AQ37264LOGO)

"Changing risk management standards, increased regulatory requirements, rating agency scrutiny and an amplified board focus on risk management all contribute to the growing desire for a tool or method to objectively quantify the viability and maturity of existing organizational risk frameworks," said Michael Joiner, associate director of enterprise risk management for Aon Global Risk Consulting. "We answered our clients' need for this information by developing the Aon Risk Maturity Index."

The index combines the expertise of multiple areas of the firm, including Aon Risk Solutions, Aon Global Risk Consulting and Aon Hewitt, into an easy-to-understand questionnaire on organizational capabilities and practices. Risk management, corporate governance and management decision processes are the focus of the questions and content. The Aon Risk Maturity Index is targeted to risk and finance leaders, although senior legal or business leaders may also participate.

Upon completion of the 30-35 minute questionnaire, the participant receives an immediate Risk Maturity Rating, along with commentary for potential improvements. Results are then further analyzed by the Aon Centre for Innovation and Analytics as well as consultants from Aon Global Risk Consulting's Enterprise Risk Management Practice and a comprehensive and complimentary Rating Report is delivered to the participant.

Introduced in the U.S. in April 2011, the Aon Risk Maturity Index has since been launched globally and will continue to capture data that can be used to drive insights, benchmark to industry and global standards and assist businesses in the development of their risk management frameworks.

Business Insurance's Innovation Awards, which recognize innovation by insurance and risk management service providers, were presented during the Business Insurance Risk Management Summit® held Feb. 29-March 1 in New York. The winning entries were selected by an independent panel of judges, including Julie A. Bean, risk manager at The Duchossois Group; Ron Cooley, director of risk management at W.W.


Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.