Brexit Uncertainty Targeted by New Aon Risk Management Tool

Aon plc is launching a new product designed to address uncertainty and manage risk created by Britain’s Brexit vote in 2016 to leave the European Union.

The company’s new “Brexit Navigator” is designed to help organizations quantify the impact of Brexit risk exposures and redesign their risk management and risk financing structures.

Brexit Navigator is supported by an interactive tool that presents scenario-based insights for each of the EU Four Freedoms—goods, capital, services and people—to help assess the impact of Brexit, Aon said in a statement.

“Extensive conversations with clients from different sectors and geographies over the past four months have given us a unique perspective on companies’ Brexit concerns,” commented Grant Foster, managing director U.K. of Aon Global Risk Consulting.

Aon’s Brexit Navigator targets global companies with operations and business interests in the U.K. by offering these three steps:

• Baseline, which evaluates just how Brexit-ready an organization is, mapping out the potential risks and opportunities.
• Balance, which realigns the risk management and insurance program to adapt to the new organizational risk tolerance and appetite.
• Horizon, which tests the changes introduced to an organization’s program to help ensure resilience for the future.

Source: Aon