Aon uses Bizagi to mitigate risk and increase compliance of their pension fund operations

Bizagi helped leading insurance company’s Global Investment Consulting arm to gain more control and visibility while improving business efficiency by reducing complex process time by 50%.

About AON

Aon is a British global professional services company headquartered in London that provides risk, retirement and health consulting. Aon has approximately 500 offices worldwide, serving 120 countries. Aon has been ranked as the largest insurance broker in the world based on revenue.

Synopsis

Risk mitigation was the key driver for Aon as they looked to optimize the trading request system to manage subscriptions and redemptions of pension funds.

Bizagi is able to integrate with their core systems, including Eagle and Charles River OMS, and could help provide more control and visibility over a process that was currently being conducted using email and spreadsheets as the transport mechanism. By using Bizagi for requests and approvals they gained more control and visibility over processes with an added benefit halving the time it took to process complex tasks.

Objectives:

Increase compliance with Financial Conduct Authority and mitigate risk of pensions funds
Remove reliance on insecure email and spreadsheets in subscriptions and redemptions of pension funds
Improve visibility and traceability of processes
Integrate with AON’s core systems

Achievements:

Reduced process time by 50% to deliver better business efficiency
Stopped using emails for pensions funds communications for transparency and FCA compliance
Automated the process to ensure the right cashflow case goes to the right person
Auto-population of data saves time for employees and reduces risk of error
Subscriptions executed in timely manner to avoid loss of revenue
Timely execution of redemption to meet customer SLAs and customer satisfaction

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Aon uses Bizagi to mitigate risk and increase compliance of their pension fund operations

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