Managing the ‘Data Ocean’ of Modern Insurance | Aon | FF Virtual Arena #340

Managing the ‘data ocean’ of modern insurance.

Established insurers are looking to leverage their vast oceans of data to better manage risk. In our latest FF News Virtual Arena, we speak to Veronica Judice from Aon who discusses her role in transforming claims operations through strategic data use.

Judice highlights Aon’s data-driven approach and commitment to delivering tailored, unified services that align with clients’ evolving needs. Watch the interview to find out the latest from the ever evolving insurance space.

Strategic Claims Optimization

Judice has been in the insurance industry for 16 years and here discusses her role in optimizing claims operations for the insurer. We find out how Aon is adapting to the evolving insurance landscape through strategic use of data and enhanced client support. We also find out a bit about her background which includes law and business. Her desire to make a difference, led her to insurance.

This focus on enhancing claims operations is all about better serving clients and improving overall outcomes. Her role combines claims expertise with a strategic vision, aiming to transform traditional claims processes through technology and data-driven insights. This not only addresses current client needs but also positions Aon to anticipate future industry shifts and market demands.

Modernizing Claims with Unified Data

One of the major challenges facing the insurance industry is the fragmentation of data. Unlike tech firms, which can build operations from scratch, insurance companies must modernize deeply rooted legacy systems. This complexity is further compounded by the volume of data stored in different formats and systems across the industry, making it difficult to unify and analyze.

Aon addresses these challenges by focusing on data and analytics as a core part of its strategy. By aligning clients’ capital and risk management needs with data insights, Aon helps clients make informed decisions. Judice explained how consolidating and sharing data within the industry can improve predictive modeling, allowing better risk assessment and client support.

Navigating Regulatory Complexity

With a global client base, Aon must manage varied regulatory requirements across different regions. Judice described how Aon’s experts offer a tailored service that meets both specific business needs and regional compliance demands. For multinational clients, Aon’s team leverages local expertise to streamline claims and manage risks effectively, regardless of jurisdictional differences.

Collaboration in an Evolving Ecosystem

Judice noted that the insurance industry has shifted from isolated “fortresses” of information to a more interconnected ecosystem. Aon embodies this shift by fostering cross-departmental collaboration, ensuring a unified approach to client service. By integrating insights from multiple teams, Aon provides clients with a holistic view of risk management, enabling them to approach challenges with clarity and confidence.

We also hear about what Aon is thinking about going forward. To hear more great conversations like this, check out the Virtual Arena’s on our website.