(puff, puff) Well, finally some news I can relate to. I am in the insurance and risk management field and have been for 18 years. AON, head by Pat Ryan, is the world's SECOND largest insurance brokerage, et al operation ( behind, at this time, J&H Marsh & McLennan).
The have their hands in everything and are very successful. While I will not go into detail about all of their operations, I will heartedly agree that AON is a major innovator of internet technology as well as intranet.
Historically, AON combined with several other GLOBAL brokerages to form EXCELNET, an internet medium (portal/) that would allow their partners and clients to access products, services, claims and related. EXCELNET was dismantled when AON began buying other brokerages to become a huge player in the marketplace.
They then worked on a new portal, WIN, for World Insurance Network. This was the new generation of internet technology that would allow clients and partners to exchange information, check accounts and receive news and new products and services.
Well, I have heard recently that WIN is not all that it is cracked up to be. On top of that, JH Marsh & McLennan ( AON"s BIG rival) is also part of WIN. AON doesn't want any part of that anymore (would you?)
So, my guess is that AON will begin building a proprietray internet portal using the alliances that PNLK has so that AON clients can communicate not only with AON, but as an added value for being an AON client, have access to global partners in their field of business as well.
One last item to note, and, I think, a critical one.
As you know, e-commerce has inceasingly been used to purchase personal lines insurance ( Homeowners, auto, etc..) and life insurance. It brings down the cost and it provide immediate conciliation of a contract in force. The problem has always been, to some degree, how can the $$$ be remitted and accounted for. IN my opinioon, PNLK may have solved this problem, both from the perspective of the consumer as well as the insurance carrier. PNLK's alliances with Banks and related is ideal and AON doesn't have to re0invent the wheel.
Value added - Since AON is a broker, it represents many, many insurance carriers in all fields. Up to now, only insurance carriers selling their own products and some limited resources offer a variety of products. All do not have a brand name to leverage off of. AON 's name is huge and easily recognizable. Add the vast markets they represent, and you have the quintessential "Electronic broking" future that is so very elsusive on a grand scale.
IHO, this is a "blockbuster" and will catapault both AON and PNLK to great heights. AON just got a "competitive advantage" by partnering with PNLK and they are now ahead of the curve.
One word I have left...."WOW"
(puff, puff)
CigarHolder |
