Aon Consulting and Urix Enter Partnership for Health Claims Business Intelligence; Global Human Capital Consultant to Offer Health Claims Data Analysis Tool to Clients.CHESHIRE, Conn. -- In a move that reflects the increasing need for real-time strategic data in the health insurance industry, Aon Consulting, a leading global human capital consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , selected the Urix Analytic Platform (UAP UAP Unstable Angina Pectoris UAP United Agri Products UAP User Account Protection (Microsoft Vista) UAP University Affiliated Program UAP Unlicensed Assistive Personnel UAP Universidad Adventista Del Plata ) to provide clients with meaningful and timely data. Urix developed UAP as the industry's first totally integrated, web-based analytic tool that is scalable and cost-effective for implementation on a national level. The Urix Analytic Platform combines three key components for addressing the critical business-intelligence needs of plan sponsors: 1) USTART for mapping, cleansing and normalizing claims data from diverse sources; 2) eCLARE for ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. online claims analysis; and 3) PRESS for customized employer group employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. report publishing "on the fly." Aon Consulting will use the UAP as a powerful analytical tool to help clients better understand their healthcare claims data and take corrective actions. "The Urix Analytic Platform will help our clients control costs more effectively by predicting healthcare trends and utilization patterns," said Jim Stark, executive vice president with Aon Consulting. "This tool provides fast, flexible and actionable information through a low-cost solution. We are delighted to partner with Urix to bring our clients more of what they need to be successful." John J. Farrell, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at Urix, said, "We are excited to have been selected by Aon and to have the opportunity to put our Employer Group Reporting solution to work for an organization which interfaces with such a large number of employer groups and health insurance carriers. With our innovative data cleansing See address cleansing and data hygiene. process we shall be integrating data from about 100 different data sources and offering Aon meaningful comparison of key metrics across carriers, unparalleled ease of use, and the quickest data refreshes in the industry. We look forward to working with Aon to build unique value for their clients." About Urix Urix (www.urix.com) is a healthcare analytics and reporting company that offers clients insights into claims data to pro-actively manage their healthcare costs while improving the quality and effectiveness of care. Urix solutions cleanse, balance and normalize normalize to convert a set of data by, for example, converting them to logarithms or reciprocals so that their previous non-normal distribution is converted to a normal one. clients' claims data from multiple sources and make it available through an easy-to-use, interactive analytics and reporting environment. Urix payor solutions enable carriers to provide their accounts with advanced reporting capabilities that can be typically implemented in only three to four months. Urix solutions for self-insured employers provide true performance-measurement statistics across health vendors. About Aon Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. brokerage, human capital and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , and specialty insurance underwriting. There are 47,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions. Aon Consulting is among the top global human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. consulting firms, with 2004 revenues of $1.247 billion and 7,000 professionals in 120 offices throughout the world. Aon Consulting delivers integrated consulting solutions to help clients with employee benefits, human resources outsourcing, compensation, communication and management consulting. This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to implement the stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions Contingent commissions is a term used in the American insurance industry for any kind of broker's commission which is contingent upon some event occurring (instead of a commission paid on the sale itself). In the UK this form of payment is known as Overriders. , other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, and ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). class actions, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission. |
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