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Aon's U.K. unit launches system to speed processing, reduce errors.

Broker and consultant Aon Ltd. has launched an electronic communications system that it hopes will speed policy processing, improve administration and bolster both transparency and contract certainty.

The system, known as Aon Broking Connections, already is in use by several market participants within Aon's specialty and reinsurance operations. Aon Ltd. is the U.K. subsidiary of Aon Corp.

Aon said the system would reduce rekeying, cutting down on errors and queries. Clients will receive information more quickly. The system's ability to provide easy access to essential data, the broker said, should cut down on errors and omissions liabilities.

"Aon will connect electronically to every one of our trading partners for all aspects of the broking process," the company said in a statement. Users, Aon said, would receive information on claims, marketing, contract confirmation, and accounting and settlement.

Dennis Mahoney, Aon Ltd.'s chairman and chief executive officer, said better use of technology would make the London market more efficient.

"Indeed," Mahoney said in a statement, "the inefficient processes that have characterized the London market have long been responsible for unacceptable time delays in the collection of premiums, the issuing of policies and the payment of claims."
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Title Annotation:Technology
Author:Chordas, Lori
Publication:Best's Review
Article Type:Brief Article
Geographic Code:4EUUK
Date:Mar 1, 2005
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