Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. With 50,000 colleagues in 120 countries, Aon empowers results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
As a leading insurance broker, Aon receives over a billion pages of documents each year to support their work. The manual process of extracting key data points led to 95% of their data being locked and underutilized. It also resulted in unsatisfactory accuracy, increased costs, and delays in serving their customers.
Groundspeed used their AI technologies to harvest critical data from Aon’s insurance documents representing $140B in incurred losses, 1.7T in insured value, and 4M policy pages. Aon can now accurately identify and structure information from these documents and store it for analysis, leveraging their previously locked data much faster and at a lower cost.
This data is helping Aon identify underlying causes of claims, driving opportunities to expand coverage and help businesses reduce their total cost of risk. The data is also enabling Aon to create new risk transfer solutions and treaties aimed at reducing premium for clients by developing a better understanding of loss trends within different lines of business and risk segments.