New online benchmarking tool from Aon provides sector insights and measurable data against competition

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Aon Employee Benefits, the UK health and benefits business of Aon plc (NYSE: AON), has launched a new benchmarking database tool which provides UK organisations with market insights and measurable data compared with their competition. This online technology delivers quicker plan design benchmarking without manual collation.

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Aon ‘Bench’ allows clients to see comparisons of costs and key plan design attributes

Aon Employee Benefits, the UK health and benefits business of Aon plc (NYSE: AON), has launched a new benchmarking database tool which provides UK organisations with market insights and measurable data compared with their competition. This online technology delivers quicker plan design benchmarking without manual collation.

Aon Bench is a standalone tool that allows Aon consultants to create client comparisons of costs and key plan design attributes. It works for claims rated private medical insurance (PMI), group income protection (GIP) and group life assurance (GLA) products across a variety of industries and employer sizes.

It enables enhanced plan comparisons including insights around premium/unit rates and specific plan design features such as benefit escalation rates and various reimbursement limits. Bench features statistical distributions, attribute-by-attribute comparisons, prevalence exhibits and holistic summaries to provide a view of costs and design elements.

It has been developed and maintained by the Health & Benefits team at the Aon Center for Innovation
and Analytics (ACIA) in Singapore and is supported by a database of over 500 Aon Employee Benefits clients in the UK. Country specific versions of the tool will share the global platform.

The data is refreshed daily, providing the most up-to-date information for comparisons. It is subject to a rigorous data review consisting of over 50 data quality checks across all of the product types. Only designs that pass critical data review checks are included in the database to ensure accuracy.

Matthew Lawrence, Head of Broking at Aon Employee Benefits, said: “Following the launch of Risk Forecaster, Aon Bench is the next in a series of Health, Risk and Wellbeing technology products which we will introduce over the next year. Employers are often keen to understand how competitive their benefit programmes are and Aon Bench means that we can support them with this requirement quickly, efficiently and accurately by utilising online technology rather than the norm of manually collating information. Furthermore, being an online tool we plan to extend Aon Bench into other product lines and extend the number of plan design attributes that are included.”

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For more information contact letstalkbenefits(at)aon(dot)co(dot)uk.

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Notes to editors

About Aon Employee Benefits
Aon Employee Benefits is the largest employee benefits consultancy in the UK. It is passionate about working with employers to deliver innovative, sustainable and engaging benefits solutions that are the best fit for clients’ objectives and budgets. Whether a client is a large corporate or SME, no matter where it is located and what industry it specialises in, Aon’s established reputation means it can negotiate the best employee benefits package.
It provides specialised consultancy services, design, implementation and support to clients along with developing benefits technology solutions in-house. Products and services include:

  •     Revolutionary and award-winning Bigblue. A platform that encompasses all benefits and all platforms, in one place with single sign on
  •     Health and risk benefits broking, consultancy and administration, including Trio, our innovative broking solution for SME clients
  •     Defined contribution pensions including auto-enrolment consultancy solution Simplyblue and our off the shelf proposition Littleblue
  •     Online reward hub Bigblue, also provides central access for employees to all areas of pay and reward
  •     Award-winning flexible benefits, total reward and benefit communications consultancy, technology and administration

All of the above services are provided in the UK and globally with our international benefits solutions from 500 dedicated offices in over 130 countries, encompassing 65,000 professionals.

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About Aon
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/manchesterunited to learn about Aon’s global partnership with Manchester United.

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