United Kingdom

Turning Risks into Opportunity: How Insurance Drives Innovation at Scale for Future Mobility

Everything is on the move. From electric and autonomous vehicles to the motions of global supply chains and evolving consumer demand. Future Mobility is at the forefront of global economic and societal change, ushering in a new era of technology enabled transportation and consumer behavior.

Trends and advancements in Future Mobility create new and complex risks for clients on their growth journey. The insurance value chain must innovate to transform risk into opportunity and unlock value for Future Mobility clients says Jillian Slyfield, Chief Innovation Officer at Aon.

In the business of helping clients make better decisions, Aon is driving an Innovation at Scale strategy to address just this – a rapidly changing world.

An Innovation Officer with a Digital Mindset

Slyfield previously served as Aon’s Digital Economy Practice Leader where she supported clients at the forefront of digital disruption and the on-demand economy with a focus on mobility as a service, the future of work, and platform marketplaces. In her role as Chief Innovation Officer, Jillian focuses on addressing growing unmet need around navigating volatility, greater access to capital, and building resilient workforces by creating net new solutions for clients.

Prior to joining Aon, Slyfield served as a leading advisor to mid-size and global organizations while working for an international brokerage firm and several national multi-risk insurance companies. Today, Slyfield partners with colleagues across Aon to identify, develop and scale new sources of value for clients.

At the Intersection of Insurance & Future Mobility

The two might not be widely thought of as a duo, but insurance is a critical prerequisite for Future Mobility expansion and adoption. Future Mobility business models and technologies create new forms of risk, but insurance players have struggled to keep pace.

This is where Aon is stepping in and stepping up as an industry leader.

We see mobility organizations engaging in a costly and inefficient purchasing journey, as insurance players are challenged to understand evolving technology, transform methodologies, and add value, says Jillian. At a macro level, the market has limited insurance capacity and lacks tailored solutions for emerging classes. This intersectionality with new forms of mass Future Mobility (e.g., electric and autonomous vehicles), is presenting challenges as the industry lags in understanding the nuances of the technology, struggles to interpret data and assess the lifetime value of components.

Clients are navigating rapidly changing business models, regulation, and mandated insurance coverage with limited insight to effectively manage risk and associated costs.

An Investment in Future Mobility to Solve Complex Challenges

Aon is investing in capabilities and expertise to help clients reshape their perspective of risk from a major expense to a strategic growth and value driver. A gap exists in the insurance market today and many players remain burdened by historical challenges preventing them from keeping pace with Future Mobility innovation.

Business models require data-driven insight and tailored risk transfer to unlock full potential. The power of Future Mobility data is a key to reshaping the insurance industry and unlocking improvement opportunities across underwriting, distribution and day-to-day risk management.

As part of its innovation strategy, Aon understands the need and is actively investing to deliver enhanced value. To help lead these efforts, Aon recently recruited Curtis Scott, the firm’s new Future Mobility Growth Accelerator Leader. With previous experiences at Lyft and Uber, Scott has a proven track record in driving innovation in response to emerging risks and tackling operational challenges through technology. In the new role, his team will work across the firm to further establish Aon as the leader in innovating new mobility solutions.

With these investments in Future Mobility, the firm is building on the success of its market-leading consultative broking process and exploring tailored solutions to help both clients and carriers. Ultimately, this will help to better understand risk, optimize strategy and inform efficient capital deployment to rewrite the Future Mobility partnership story.

Aon is motivated by the opportunity to continue serving as a strategic partner for current and new forms of Future Mobility platforms and modalities, including supporting global adoption of electric vehicles, mobility as a service models, micro mobility, autonomous vehicles, air mobility and beyond.

Jillian Slyfield, Aon Chief Innovation Officer delivers keynote presentation at MOVE 2023 where she discusses unlocking greater profitability across insurance markets by elevating expectations. For more information on Aon UK’s Digital Economy practice, visit https://www.aon.com/digital-economy/default


Whilst care has been taken in the production of this article and the information contained within it has been obtained from sources that Aon UK Limited believes to be reliable, Aon UK Limited does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of the article or any part of it and can accept no liability for any loss incurred in any way whatsoever by any person who may rely on it. In any case any recipient shall be entirely responsible for the use to which it puts this article.

This article has been compiled using information available to us up to 06/06/23. This article was originally published on movemnt.net on 13/06/2023.

Aon UK Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500.