Aon launches Singapore climate innovation hub

Aon has launched a new climate innovation hub in Singapore, supported by the Singapore Economic Development Board (EDB). Aon said the hub will help its clients around the world navigate environmental risk and opportunities. “Climate change is a reality, not a probability. In 2022, there were $313bn in total economic losses from natural disasters globally – $299bn of which was the result of weather and climate events,” said Greg Case, CEO of Aon. “The acceleration of innovation and digitalisation will continue to influence the future of business. We look forward to working closely with the EDB to identify local talent, pursue innovation at scale and develop new solutions that help our clients make better-informed decisions around the world.” The broker said it plans to invest over the next ten years “to further enhance its data, analytics, insights and solutions to better advise clients on emerging and evolving risks that are increasingly complex and interconnected”. The hub will be housed in Aon’s Centre for Innovation and Analytics in Singapore, which it plans to grow from nearly 180 colleagues to more than 350 colleagues over the same time period. “Singapore is a leading innovation centre and a global leader on climate and resiliency; therefore it is fitting that we establish our new climate hub here,” said Anne Corona, CEO of the Asia-Pacific region at Aon. “Through this hub, Aon will be able to provide better analytical capabilities and solutions, which will allow clients to have greater clarity and confidence to shape decisions that protect and grow their businesses. Aon will bring together the best of the firm and the expertise in Singapore to innovate to address new and emerging risks in climate, ESG, workforce resilience, digital client solutions and other key risk and human capital challenges.” Aon said its plans will further advance its capabilities in several areas, including: Navigating new forms of volatility: Model emerging long-tail risks, with an emphasis on climate, and build predictive models and digital solutions. Rethinking access to capital: Develop best-in-class global solutions based on Aon’s capabilities to digest, analyse and innovate leveraging data across the global insurance value chain. Building a resilient workforce: Create scalable workforce solutions through advanced digital technologies and analytics. Addressing underserved markets: Provide access to new solutions to all types of organisations, through rapid deployment and scalable insurance solutions built on digital platforms. “Aon’s climate innovation hub will complement Singapore’s growing ecosystem of sustainability solutions providers that can help businesses meet their climate commitments, support their energy transition and explore green growth opportunities. We look forward to partnering with Aon on this initiative and to bringing together Aon’s expertise and Singapore solutions providers to develop new and innovative solutions to tackle climate and sustainability challenges,” said Png Cheong Boon, chairman, EDB.

Aon launches Singapore climate innovation hub

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