Management Consulting
Aon
Full Credential Description
Aon addressed the increasing complexity of motor risk for operators of vehicle fleets, where trade, technology, weather, and workforce megatrends create both opportunities and risks. Clients faced challenges with rising claims inflation, which for motor accidents exceeded 14%, and the transition to net zero, which introduced capital and asset risks associated with battery electric vehicles. These factors contributed to a significant burden on the commercial motor premium spend, making it one of the largest contributors to risk budgets for large on-road fleets. To tackle these issues, Aon implemented a data-led approach to identify and quantify risks associated with the total cost of motor risk (TCOR). This involved developing a comprehensive model of TCOR that communicated the interconnectivity of various functions within the organization and the costs incurred. Aon utilized its Client Leadership model to support management across drivers, fleet operations, and executive functions, ensuring a cohesive strategy to reduce incident frequency and associated costs. Aon's tailored solutions included the Motor Risk Insights tool, which aggregates telematics data from major providers into a consistent risk score, allowing organizations to track risk trends and measure the effectiveness of risk improvement strategies. Additionally, the Fleet Risk Profiler benchmarked fleet risk management actions against best-in-class standards, facilitating targeted risk improvement. Aon also provided risk and claims consulting, leveraging technical expertise to optimize claims management strategies and finance motor TCOR through innovative structures tailored to the client's risk appetite. As a result of these initiatives, clients experienced lower claims, reduced off-road time, decreased training costs, and minimized fuel usage and CO2 emissions. This comprehensive approach not only enhanced safety and reduced accident frequency but also unlocked profitability and investment opportunities for the organizations involved.