N@N

Aon Converges Its Governance, Risk and IT Compliance Initiatives With BWise

^{Published on 2010-06-08 06:00:21 - Market Wire}
 

NEW YORK, NY and HERTOGENBOSCH, NETHERLANDS--(Marketwire - June 8, 2010) - [ BWise ], the global leader in governance, risk and compliance (GRC) management software, announced today that Aon Corporation (NYSE: [ AON ]) has chosen BWise as its global Governance, Risk Management and Compliance (GRC) Platform. Aon, headquartered in Chicago, is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. A wide array of premium insurance products and services are offered by Aon, including products such as property, business continuity, automobile, workers' compensation, and general and professional liability.

Integrate SOX compliance and IT policies and procedures
Aon was seeking a versatile GRC solution that could assist in managing several enterprise initiatives at once. Aon will start with integrating its [ Sarbanes-Oxley ] (SOX) compliance and global [ Information Security policies and procedures ]. Both the SOX management and IT Risk Management departments at Aon were involved in the search for and scoping of a GRC platform that could meet the firm's requirements. The two departments worked cooperatively to find a solution that would meet both their goals and also contribute to developing continued efficiencies throughout Aon. Alfred Jongejan, Director of Corporate Finance at Aon, said, "Distinct departments came together here at Aon and understood the value of working together in choosing a GRC Management solution that could benefit the company's multiple governance, risk and compliance efforts. With the BWise GRC platform, Aon has selected a unique and comprehensive tool to efficiently and economically support, [ converge ] and streamline several of these corporate programs and initiatives."

Reduce, mitigate and rationalize the number of controls
Aon uses a risk-based approach to managing its control framework. This framework varies by business line and financial accounts, leading to eventual financial statement materiality scoping for the firm. This was an important consideration while looking for a technology solution. Aon's management, throughout the organization, will use BWise to perform control testing and to review and assess those same control tests.

Ultimately, Aon chose BWise due to its ability to manage several initiatives in one platform. Luc Brandts, CTO and Founder of BWise, said, "We are very proud to welcome AON as a new global customer. It is great to see the various AON teams working together on selecting and implementing a global and integrated Governance, Risk Management and Compliance program."

About BWise
BWise is the global leader in Governance, Risk and Compliance (GRC) management software, with a strong heritage in business process management. Established in 1994, BWise delivers proven solutions to help organizations become "in control" by increasing corporate accountability; strengthening financial, strategic and operational efficiencies; and maximizing performance and ROI.

With more than 300,000 users in more than 80 countries worldwide in virtually all markets, BWise has developed a strong and sustainable presence in the GRC sector. Utilizing templates and a best-practice implementation approach, BWise enables stakeholders to measure and manage risks and to comply with rules and legislation throughout their organization. Our customers are managing multiple risk-related and compliance initiatives such as Sarbanes-Oxley, Solvency II, Basel II, MiFID, PCI, GLBA, NAIC MAR, HIPAA and others. BWise has offices in the Netherlands, United States, United Kingdom, Germany and India. For more information, visit [ www.bwise.com ].

About Aon
Aon Corporation (NYSE: [ AON ]) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 36,000 colleagues worldwide, Aon delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008 and 2009. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007, 2008, and 2009, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007, 2008 and 2009 by the readers of Business Insurance. For more information on Aon, log onto [ http://www.aon.com ].