Aon has acquired actuarial software platform Tyche to expand its existing capabilities to help insurers and reinsurers rethink access to capital and decision-making.
Developed by technology software and consulting company RPC Tyche, the Tyche platform specialises in the development of customised risk and capital modelling software for actuaries, quantitative analysts and risk teams.
Under the acquisition, Aon will offer its re/insurer clients a single technology platform where they can integrate capital modelling, pricing and reserving to facilitate improved decision-making across both life and non-life business.
Commenting on the acquisition, Nick Frankland, chairman of Aon’s insurance consulting team, says: “This innovative new offering, combined with our existing global capabilities, will help to bring significant value to Aon’s re/insurer clients, and deliver new software and consulting solutions to previously underserved markets.
“As our clients face increasingly complex risks and evolving regulatory requirements, Tyche’s expertise is designed to underpin insurers' decision-making frameworks. We are thrilled to welcome Tyche’s nearly 140 colleagues to Aon as we share a commitment to innovating on behalf of clients.”
Alun Marriott, managing partner of Tyche, adds: “Combining with Aon can take us to the next level in terms of capabilities, distribution and delivery. By uniting our passion for technology-driven insight, we will bridge gaps and enhance solutions to benefit clients.”
