Around the world, governments are introducing regulations to ensure fair payment for every employee. But the transition from basic regulatory compliance to sustainable pay transparency solutions remains a challenge. Host and Aon’s Head of Talent Solutions, North America, Brooke Green, welcomes Aon’s Head of Rewards and Career Advisory, North America, Kelly Voss, for a conversation about advancing pay equity and transparency. 

• [2:42] Terms and concepts surrounding pay transparency
• [4:52] Historical events that shaped pay expectations
• [9:37] Transitioning from compliance to a culture of transparency
• [11:12] Three prongs of an effective pay transparency culture
• [14:35] First steps to lasting change

Additional Resources:

Aon’s website

Pay Transparency Consulting

Pay Equity Consulting

Understanding and Preparing for the Rise in Pay Transparency

Five Big Human Resources Trends to Watch in 2024

Webinar: The Five Top HR Trends to Watch for in 2024

Mastering Pay Transparency to Bridge the Gender Wage Divide

Tweetables:

• “This is not about compliance. It’s about the workforce and who our workforce and future is, and it’s about talent.” — Kelly Voss
• “As an organization, decide which of these foundational pieces you’re going to start with because there isn’t one right answer for every organization.” — Kelly Voss
• “If you start to think about this and plan accordingly, we’ll all be in good shape. It’s just a matter of taking that first step.” — Kelly Voss

Resilience and growth are dependent on business leaders taking action to respond to pressing global challenges and opportunities. In this episode, Aon’s Laura Wanlass, partner, Human Capital Solutions, is joined by Leslie Follmer, head of Investor Relations and ESG, for a look at Aon’s 2023 Impact Report. 

• [1:40] What ESG means to Aon’s 3x3 Plan
• [3:42] Three key takeaways from this year’s report
• [5:31] Insights into Aon’s Sustainability Network
• [6:24] Examples of environmental sustainability grants

Additional Resources:

Aon’s website

Aon's 2023 Impact Report

Insurance Insider: Aon’s 3x3 plan positions firm to deliver a 'big set of answers' to clients

On Aon Insights: What Does ‘ESG’ Really Mean?

Ep 49: On Aon's ESG Impact with Leslie Follmer

Aon’s 2022 ESG Impact Report

Special Edition: Aon CEO Greg Case on 2024 and Evolving to Serve Clients

Tweetables:

• “When you think about what’s in ESG, those risks match right up against risk capital and human capital.” — Leslie Follmer
• “We really do have core capabilities here to help our clients think about ESG risks in ways that help them make better decisions.” — Leslie Follmer
• “Aon colleagues are joining together with the support of these environmental sustainability grants to drive local impact on environmental causes.” — Leslie Follmer

Navigating the broad landscape of climate-related investment risks and opportunities has never been more critical. For a discussion on decarbonization, responsible investing and tactics for greater resilience, host and Aon’s Partner, Non-Profit Solutions Leader, Chair of U.S. Investment Committee, Heather Myers, welcomes Daniel Ingram, partner, head of Responsible Investment, North America, and Tim Manuel, partner, head of Responsible Investment, UK.  

• [1:44] Key questions that define the meaning of decarbonizing for investors
• [5:40] Identifying the motivation behind the steps needed in decarbonizing efforts
• [10:54] Various investor approaches to decarbonizing
• [15:37] Action and integration flow from the motivational belief that change is possible
• [19:22] First steps to building a climate-resilient investment portfolio

Additional Resources:

Aon’s website

How is Climate Change Affecting the Investment Landscape?

Aon’s Environmental Social and Governance (ESG) Manager Ratings: 3 Questions with Daniel Ingram

Impact Investing is Hard: Here’s How to do it Well

Responsible Investing

Aon’s Impact Report

Tweetables:

• “As a globally diversified investor, your portfolio will look like, to some degree, the global economy.” — Tim Manuel
• “For investors that want to maintain diversification, their own decarbonization goals and whether they will meet those goals, are inextricably linked to the decarbonization process in the wider economy.” — Tim Manuel
• “Investors can’t decarbonize in a vacuum.” — Tim Manuel
• “Investors really need some help determining what, if anything, decarbonizing means for them, what actions they might want to take, if any, and why.” — Daniel Ingram
• “Trying to understand what’s motivating your investors is really part of determining what decarbonizing means for you.” — Daniel Ingram
• “No one person is going to solve climate change.  It requires everyone to do their part globally.” — Daniel Ingram

© 2024 Aon plc. All rights reserved.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice. Investment advice and consulting services provided by Aon Investments USA Inc. (Aon Investments). The information contained herein is given as of the date hereof and does not purport to give information as of any other date. The delivery at any time shall not, under any circumstances, create any implication that there has been a change in the information set forth herein since the date hereof or any obligation to update or provide amendments hereto.

This document is not intended to provide, and shall not be relied upon for, accounting, legal or tax advice or investment recommendations. Any accounting, legal, or taxation position described in this presentation is a general statement and shall only be used as a guide. It does not constitute accounting, legal, and tax advice and is based on Aon Investments’ understanding of current laws and interpretation.

Diversification does not ensure a profit nor does it protect against loss of principal. Diversification among investment options and asset classes may help to reduce overall volatility.

This document is intended for general information purposes only and should not be construed as advice or opinions on any specific facts or circumstances. The comments in this summary are based upon Aon Investments’ preliminary analysis of publicly available information. The content of this document is made available on an “as is” basis, without warranty of any kind. Aon Investments disclaims any legal liability to any person or organization for loss or damage caused by or resulting from any reliance placed on that content. Aon Investments reserves all rights to the content of this document. No part of this document may be reproduced, stored, or transmitted by any means without the express written consent of Aon Investments.

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Aon’s 2024 Climate and Catastrophe Insight Report analyzes the financial and human impacts of last year’s weather and natural disasters. Host and Aon’s Chief Marketing Officer, Reinsurance Solutions, Alexandra Lewis, invites Michal Lörinc, head of Catastrophe Insight, to  share his knowledge on 2023’s natural catastrophes and the strategies needed to support those impacted.

• [1:02] Statistics on the impacts of 2023 damage compared to previous years
• [4:17] A definition and explanation of the increasing protection gap
• [9:21] Recommendations for resilience tactics in response to catastrophic weather trends
• [10:10] Practical measurements to mitigate rising perils such as heatwaves
• [12:31] Key findings of Aon’s 2024 Climate and Catastrophe Insight

Additional Resources:

Aon’s website

Aon’s 2024 Climate and Catastrophe Insight

On Aon Episode 47: On Aon's Insights on Navigating and Preparing for Catastrophes with Michal Lörinc and Dominic Probyn

Tweetables:

• “I’ve talked about financial drivers of disasters, but we can’t forget about the human impact.” — Michal Lörinc
• “Considering human fatalities, 2023 was the deadliest since 2010.” — Michal Lörinc
• “The main reason that losses are increasing over time is the growth of exposure in population growth in vulnerable areas.” — Michal Lörinc

In this special episode of the “On Aon” podcast, host Andy Weitz, Aon’s Chief Marketing Officer, welcomes Aon CEO Greg Case for a conversation about what 2024 holds for our colleagues and clients. They also discuss insights into the critical themes of Risk Capital and Human Capital and how Aon’s 3x3 Plan will drive the firm’s commitment to go further, faster over the next three years.

• [1:44] Megatrends in 2024 across trade, technology, weather and workforce
• [6:36] Further evolving as firm to serve client need
• [9:12] Aon’s 3x3 Plan to go further, faster on the firm’s Aon United strategy
• [11:55] Investing in Aon Business Services to drive greater relevance with clients
• [16:31] Developing new products to help better serve clients
• [18:45] Serving the middle market with more capability

Additional Resources:

Aon’s website

Aon Further Accelerates Aon United Strategy

Insurance Insider: Aon’s 3x3 plan positions firm to deliver a 'big set of answers' to clients

Insurance Insider: Taking Aon and making it... even more Aon

Insurance Insider: Aon United acceleration project ‘fundamentally different’ to earlier efforts

Aon’s Property Risk Analyzer

Aon To Acquire NFP, A Leading Middle-Market Provider Of Risk, Benefits, Wealth And Retirement Plan Advisory Solutions

Aon’s ​​Cyber Quotient (CyQu) Evaluation

Aon Expands Climate Risk Advisory Across Risk Capital To Serve Clients With More Integrated Solutions

Aon Insights: Delivering an Integrated Business and People Strategy for the Future of Insurance

On Aon Episode 48: On Aon's Game Plan for Switching from Defense to Offense in Managing Risk with Greg Case

Tweetables:

• “No question our world is more volatile in every respect and that volatility is driven by a series of transitions across trade, technology, weather and workforce…which have changed the stakes in the battle for relevant with clients.” - Greg Case
   
• “Clients are looking for a set of trusted advisors who can help them rethink how they take a more holistic view towards Risk Capital...They also want an advisor who can deliver integrated solutions that consider the connection between traditional health & benefits, employee retirement planning and broad-based talent strategies – it's really one issue, it’s how you optimize your Human Capital.“ - Greg Case
   
• “For Aon, this means creating innovative new solutions that address these emerging risk and people challenges, accelerating the use of predictive analytics to deliver new insights and unlock access to new forms of capital and focusing on the growing demand for integrated solutions that tackle risk and people challenges together.” - Greg Case
   
• “Our Aon United strategy has helped us keep pace with [client] expectations, but the reality is we need to go further, faster – which is the rationale for the 3x3 Plan we rolled out last year.” - Greg Case 
   
• “Bringing together Reinsurance and Commercial Risk data and analytics we are creating a new suite of tools, starting with our Property Risk Analyzer, that deliver insights to clients in real time related to their risk profile, which will allow them to better interact with markets, assess their position and take action.” - Greg Case
   
• “When we look at the opportunity with NFP, it’s not about building something bigger – it's about building something better.” - Greg Case
   
• “The investment in Aon Business Services through our 3x3 Plan is helping our firm realize the opportunity to innovate on behalf of clients to create very specific product offerings for the middle market.” - Greg Case
   
• “If you think about one of our future colleagues at NFP, they will have the chance to do exactly what they’re doing today, but with more capability to bring to their clients.” - Greg Case

The 2023 Aon Global Risk Management Survey (GRMS) asked nearly 3,000 business leaders around the world about their approach toward risk, as well as the steps they are taking to manage them. Host and Aon’s Chief Executive Officer, Commercial Risk, Joe Peiser, welcomes Lambros Lambrou, chief executive officer, Human Capital, for a discussion on the survey results and the rising risk of human capital, climate, cyber risk and AI. 

• [:21] Characteristics, key topics and demographics of the GRMS
• [1:09] Challenges around attracting and retaining talent
• [4:04] Quantifying the risks of attracting and retaining talent
• [6:20] The impacts of climate as a key consideration in risk mitigation plans
• [8:35] Insights into the severity of cyber threats to an organization
• [10:12] Current and future risks and concerns of AI

Additional Resources:

Aon’s website

Aon’s Global Risk Management Survey

Fortune: AI was not even in the top 20 business risks in a ‘shocking’ survey of nearly 3,000 corporate leaders

Inside P&C: Cyber risk, BI remain top risks for carriers: Aon

Tweetables:

• “These results provide key insights into the business leader’s mind and the steps they are taking to manage them.” — Joe Peiser
• “Human capital issues are no longer just a people problem.” — Joe Peiser
• “Human capital issues are a key business risk that can hamper innovation and business development.” — Lambros Lambrou
• “Most CEOs now have talent strategies as one of their top priorities today.” — Lambros Lambrou
• “We expect human capital to increase in ranking in future surveys.” — Lambros Lambrou
• “More than ever, there is greater awareness around the connectivity between an organization’s risk and people strategy and the implications that they can impact business performance.” — Lambros Lambrou
• “There is still a significant gap between risk awareness and risk preparedness.” — Lambros Lambrou

The renewables industry is an evolving and dynamic sector — and the insurance sector plays a key role in mitigating risk and unlocking capital. Host and Aon’s Global Head of Climate Strategy, Richard Dudley, is joined by Global Head Renewable Energy, Guido Benz, and Renewable Energy Leader, EMEA, Mark Potter, for a discussion on the forces shaping the renewables industry. 

• [3:41] Advice for starting a career in the reinsurance industry
• [4:56] Key challenges when investing in renewables
• [10:21] What the next big trend in regulation is
• [13:05] Which sectors are succeeding
• [16:17] What’s next for the industry
• [20:31] Aon’s efforts to drive growth and development in renewables

Additional Resources:

Aon’s website

With an Industry Focus, ESG Risks and Opportunities Can Vary Greatly

Building a Resilient Workforce That Steers Organizational Success | An Outlook Across Industries

Cutting Supply Chains: How to Achieve More Reward with Less Risk 

Reducing Finance Risks in a Fast-Moving Wind Energy Market

Tweetables:

• “All of these aspects drive volatility and create challenges to the sector as well as opportunities.” — Guido Benz
• “We’re at a transition point where that needs to be reassessed again… to make sure that we meet the goals that we’re setting for ourselves.” — Mark Potter
• “There’s a lot of things to factor in for developers and a lot of types of risk and exposures that they’re managing.” — Mark Potter
• “Government bodies have a key role to play to really help facilitate this transition.” — Guido Benz
• “The business case around renewables is still very, very strong.” — Mark Potter

The sharp rise in interest in weight loss medications presents both solutions and challenges for leaders in the healthcare space. Host and Aon’s Senior Vice President, National Pharmacy Practice Leader, Tracy Spencer, is joined by Michael Manolakis, Aon’s senior vice president, clinical innovation leader, National Pharmacy Practice, for a look at the current and future state of pharmacy challenges faced by plan sponsors in relation to the treatments, known as GLP-1s.

• [2:10] Distinguishing characteristics and challenges of GLP-1s
• [7:18] Balancing the fairness of coverage with the inappropriate utilization of drugs
• [11:30] Quality control and safety concerns in light of demands
• [18:05] ROI considerations for long term investment gains
• [19:26] Holistic fairness and equity of coverage in these patient support elements
• [26:15] A high level summary of considerations for employers

Additional Resources:

Aon’s website

Aon’s Pharmacy Solutions LinkedIn

Aon’s Pharmacy Benefit Consulting 

Aon’s Rx Coalition

Tweetables:

• “Employers, over the course of last year, have been wrestling with and raising some very challenging questions about how to manage these drugs.” — Michael Manolakis
• “The impact of unofficial celebrity endorsements via social media has been astonishing.” — Michael Manolakis
• “These are really challenging questions here about how we treat obesity and how we think about obesity in comparison to other disease states.” — Michael Manolakis
• “Employers need to be thinking about cost, the prevalence of the condition, and fairness from a cost management perspective.” — Michael Manolakis

While climate risk is an ongoing concern for organizations and individuals, the impact of biodiversity is often missing from the conversation. In this episode, host and chief marketing officer, Reinsurance Solutions, Alexandra Lewis, is joined by UK Investment Partner at Aon, Jennifer O’Neill, for insights into the critical role that biodiversity plays in planning for the future. 

• [1:02] The critical role of biodiversity in planning for the future
• [2:35] Institutional investment as a key strategy to protect biodiversity
• [3:35] Complexities presented in measuring the success of investments
• [5:00] An action list for institutions to prioritize biodiversity in investment
• [6:05] A recap of biodiversity, climate and institutional investments

Additional Resources:

Aon’s website

Tackling Climate Change by Investing in Biodiversity

Climate Change and the Threat to Water Security

A Guide to Preparing for Greater Climate Disclosure in 2023

Using Parametric Insurance to Match Capital to Climate Risk

On Aon Insights Season 2, Episode 1: What Does “ESG” Really Mean?

On Aon Insights Season 2, Episode 2: Climate Science Through Academic Collaboration

On Aon Insights Season 2, Episode 3: Climate and Supply Chain

On Aon Insights Season 2, Episode 4: The Role of Insurance in Climate Plans

Tweetables:

• “Thinking about ways that capital allocation decisions and decisions about where to invest and specifically what to invest in, and really understanding how that then has an impact, both from a climate perspective and also from a biodiversity perspective is really key.” — Jennifer O’Neill
• “Investors need to be thinking about this now so that they’re not left behind.” — Jennifer O’Neill
• “We are really talking at a pivotal time for making decisions today rather than deferring those decisions for the future and looking to park those until such time as we have perfect data.” — Jennifer O’Neill
• “It's important that investors really think about this now and begin to understand not only what they can do, but also what their current position is so that they can determine what actions might look like for them.” — Jennifer O’Neill