8 Aon Company Strategies For Success

Aon is a leading global professional services firm that provides a range of services, including risk management, insurance brokerage, and human capital consulting. The company's success can be attributed to its well-crafted strategies, which have enabled it to stay ahead of the competition and achieve its goals. In this article, we will explore 8 Aon company strategies for success, highlighting the key elements that have contributed to the company's growth and prosperity.

Strategic Overview

Aon’s strategic framework is built around its mission to empower economic and human possibility for clients, colleagues, and communities. The company’s strategies are designed to drive growth, improve profitability, and enhance its competitive position in the market. Aon’s approach to strategy development involves a thorough analysis of its internal and external environment, identifying opportunities and threats, and developing responses to address them. The company’s strategies are focused on the following key areas: innovation, digitalization, and talent development.

1. Innovation Strategy

Aon’s innovation strategy is focused on developing new and innovative solutions that meet the evolving needs of its clients. The company has established a number of innovation centers around the world, which bring together experts from different disciplines to develop new products and services. Aon’s innovation strategy involves the use of design thinking principles, which involve empathizing with clients, ideating solutions, prototyping, and testing. This approach enables the company to develop solutions that are tailored to the specific needs of its clients. For example, Aon has developed a range of innovative solutions in the area of cyber risk management, including a cyber risk assessment tool and a cyber insurance product.

2. Digitalization Strategy

Aon’s digitalization strategy is focused on leveraging technology to improve the efficiency and effectiveness of its operations. The company has invested heavily in digital platforms and tools, which enable it to deliver its services to clients in a more efficient and cost-effective manner. Aon’s digitalization strategy involves the use of artificial intelligence and machine learning technologies, which enable the company to analyze large amounts of data and develop insights that inform its decision-making. For example, Aon has developed a range of digital tools that enable clients to manage their risk and insurance programs more effectively, including a risk management platform and an insurance portfolio management tool.

3. Talent Development Strategy

Aon’s talent development strategy is focused on attracting, retaining, and developing the best talent in the industry. The company has established a number of programs and initiatives that support the development of its employees, including training and development programs, mentorship programs, and diversity and inclusion initiatives. Aon’s talent development strategy involves the use of data analytics to inform its decision-making, enabling the company to identify areas where it needs to develop its talent and develop targeted solutions to address these needs. For example, Aon has developed a range of programs that support the development of its employees in the area of data science, including training programs and mentorship initiatives.

4. Client Centricity Strategy

Aon’s client centricity strategy is focused on delivering exceptional client service and building long-term relationships with its clients. The company has established a number of programs and initiatives that support its client centricity strategy, including client feedback programs, client relationship management programs, and client education programs. Aon’s client centricity strategy involves the use of client segmentation techniques, which enable the company to tailor its services to the specific needs of its clients. For example, Aon has developed a range of services that are tailored to the specific needs of its small and medium-sized enterprise clients, including a range of insurance products and risk management services.

5. Operational Efficiency Strategy

Aon’s operational efficiency strategy is focused on improving the efficiency and effectiveness of its operations. The company has established a number of programs and initiatives that support its operational efficiency strategy, including process improvement programs, cost reduction programs, and technology enablement programs. Aon’s operational efficiency strategy involves the use of lean principles, which involve eliminating waste and optimizing processes to improve efficiency. For example, Aon has developed a range of initiatives that support the company’s operational efficiency strategy, including a program to streamline its accounting and finance processes.

6. Strategic Partnerships Strategy

Aon’s strategic partnerships strategy is focused on forming partnerships with other organizations that support its growth and profitability. The company has established a number of partnerships with other organizations, including technology companies, insurance companies, and consulting firms. Aon’s strategic partnerships strategy involves the use of partnership governance frameworks, which enable the company to manage its partnerships effectively and ensure that they are aligned with its strategic objectives. For example, Aon has formed a partnership with a leading technology company to develop a range of innovative solutions in the area of insurance technology.

7. Risk Management Strategy

Aon’s risk management strategy is focused on identifying and managing the risks that the company faces. The company has established a number of programs and initiatives that support its risk management strategy, including risk assessment programs, risk mitigation programs, and risk monitoring programs. Aon’s risk management strategy involves the use of risk analytics techniques, which enable the company to analyze and quantify its risks. For example, Aon has developed a range of risk management solutions that support its clients in managing their risks, including a risk management platform and a range of insurance products.

8. Corporate Social Responsibility Strategy

Aon’s corporate social responsibility strategy is focused on making a positive impact on the communities in which it operates. The company has established a number of programs and initiatives that support its corporate social responsibility strategy, including community engagement programs, environmental sustainability programs, and diversity and inclusion initiatives. Aon’s corporate social responsibility strategy involves the use of sustainability reporting frameworks, which enable the company to measure and report its sustainability performance. For example, Aon has developed a range of initiatives that support its corporate social responsibility strategy, including a program to reduce its carbon footprint and a program to support diversity and inclusion in the workplace.