Steering advisors through dynamic environments.
Aon partnered with UK financial advice firm M&G Wealth to help the firm better understand the make-up of a highly successful advisor of the future, including the skills needed given shifts in societal needs, technology and regulation.
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M&G’s risk management fueled 12% revenue growth in Q3 2024, hitting $15.3 billion.
Client Challenge
Green Technology Risks
Boeing faced the challenge of insuring groundbreaking technologies designed for sustainable air travel. These included electric and hybrid aircraft, which presented novel risks not fully addressed by traditional insurance policies.
Electric and Hybrid Aircraft
Traditional insurance models are often inadequate for covering the complex risks associated with these advanced aircraft, which include untested technology, potential operational failures, and uncertain regulatory landscapes. Additionally, the long-term reliability and maintenance costs of electric and hybrid systems are not yet fully understood, making it difficult to assess risk accurately. Environmental factors, such as battery performance in extreme conditions, and the potential for new types of accidents or malfunctions, add another layer of complexity.
Ground Breaking Technology
Contacting Aon for emerging green technologies ensures you receive specialized insurance solutions tailored to the unique risks of innovative advancements. Aon’s expertise in developing customized coverage for technologies like electric and hybrid aircraft helps mitigate operational and environmental liabilities, allowing you to innovate confidently.
Our strategic approach and deep industry knowledge provide essential support in navigating regulatory challenges and managing emerging risks, positioning your organization for success in the evolving green technology landscape.
Aon's Solution
Customized Insurance Coverage
Aon can provide the aviation industry with tailored insurance solutions that address the unique risks of emerging green technologies. This included developing specialized policies to cover potential operational and environmental liabilities, ensuring that innovations could proceed without compromising safety or compliance.
Tailored Coverage for Emerging Risks
Aon recognized that the unique risks associated with Boeing’s electric and hybrid aircraft required more than traditional insurance solutions. To address this, Aon developed customized insurance policies specifically designed to cover the uncertainties of new technologies.
These tailored policies take into account the untested nature of electric propulsion systems, potential operational failures, and evolving regulatory requirements.
By working closely with Boeing, Aon ensured that the coverage aligns with the specific risks and challenges these aircraft face, providing a comprehensive safety net that supports Boeing's innovation in sustainable aviation.
Dynamic and Adaptive Insurance Solutions
Understanding that the aviation industry is in a state of rapid change, Aon designed its insurance solutions to be flexible and adaptive. This approach allows Boeing to update and refine coverage as new risks emerge or as electric and hybrid technologies mature.
Aon’s proactive risk management strategies include ongoing assessments and adjustments to policies, ensuring that Boeing remains protected against both current and future risks.
This dynamic insurance model not only safeguards Boeing’s investments in green technology but also empowers the company to confidently lead the way in the future of sustainable air travel.
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Featured Solutions
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Outcomes
Effective Risk Management
Aon successfully implemented sustainable air travel initiatives. The company now benefits from 75% of its insurance policies covering environmental risks and has effectively managed new technology risks. This collaboration helped enhanced risk management whilst helping develop the future of sustainable air travel.
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Enhanced Operational Resilience
Through Aon’s risk management solutions, Boeing has significantly enhanced its operational resilience. The collaboration resulted in the effective management of 80% of supply chain disruptions and ensured that 90% of Boeing’s new technologies have customized insurance coverage.
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2X
growth in demand for advisors with diverse skills to meet evolving client needs.
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80%
of firms reported an increased demand for advisors who can integrate personalized financial advice with cutting-edge technology.
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4X
Increased focus on succession planning for advisory roles to ensure firms are prepared to develop future leaders and maintain high-quality financial advice.
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75%
of advisors identified upskilling and succession planning as essential for future-proofing their businesses.
Article Meet the Team
Jane Cooper
Chief Executive Officer, Asia-Pacific
Anne is the Chief Executive Officer of Asia Pacific based in Singapore. In her current role she manages Aon's business in Asia Pacific across solution lines and partners with key clients in the region to help them make better decisions to protect and grow their business.
