Talent, AI and critical mass are the City’s advantages
AON is building on the advantages offered by Canada with technology
Technology is having a dramatic impact on every sector in Canada and shaping the impact technology is having on work and workflows is becoming an increasingly important role.
In January this year, insurance and reinsurance brokerage Aon hired Steve Dando from Ardonagh Specialty as the Chief Executive Officer (CEO) of EMEA for its Strategy and Technology group to help shape the future of technology across its business divisions.
Based in London, Dando has been tasked with leading strategy and development across the EMEA, delivering software consulting services that shape better client decisions through actionable, executable, and holistic solutions.
Speaking to City PM, Dando said that while technology is shaping how we live and work, “Relationships completely underpin the London insurance market.” The relationship is only reinforced by critical mass of companies located in the Square Mile. “[The] proximity that exists in the City between brokers and underwriters forces the relationship to be really close,” Dando said.
Building the right team
Building the right team is a core part of that process, which means appealing to the right people. “Trying to access different pools of talent is right at the top of the agenda,” Dando said. “Insurance has never done a great job of advertising itself; it’s always been second to banking in terms of promotion, but as we’ve moved through the pandemic, insurance has done a great job of raising its profile.” Part of that has been making jobs visable to a more diverse workforce. “To create a high-performing team, you can only do that with a diverse workforce,” Dando noted.
With an army background, Dando explained he’s uniquely positioned to help overcome the personnel challenges of running a large, global team. Dando noted that thanks to his background, he’s likely to “approach a problematic situation differently,” including the support offered to service leavers. In fact, he’s “passionate about helping to boost the support the army provides to leavers” and does a lot of work “helping service leavers transition into the insurance industry.”
The global edge
Aon’s global footprint is the company’s edge. With its presence in 120 companies, the group can leverage its global network and skills to produce the best outcome for clients. As Dando explained: “We advise when a client has a problem; peers are other professional services firms, but [we] have an edge with the Aon network.” “[A] reinsurance company might for instance, want to establish a marine operation in Singapore.” They could approach the more generalist players, but with our broad expertise in re/insurance and the global insights we have available, we like to think our conversations would be deeper and more meaningful in helping clients to make better business decisions.”
Part of Aon’s offering to clients is a suite of tools that help insurers and reinsurers manage capital and grow. This is part of its approach to data and data analysis, which sits at the core of the group’s growth plans and client offering.
“There is a greater emphasis on high-quality data and being able to generate extra intelligence from the data. Using data and AI, you can get to a more sophisticated and informed decision faster,” explained Dando.
“Our clients need to stay ahead of the curve, and that’s why we’re here…All of this underlines our commitment to delivering value and improving relationships, and using AI to strengthen the value proposition,” he added.
Some clients have expressed resistance against the adoption of AI in their workstreams, but Aon has developed a “a team of experts to help clients build clarity and confidence around utilising and deploying AI, and relating how AI is used effectively across other businesses,” Dando noted.
Interview with Steve Dando:
