Breakout 1: Governance At Work. Jakub Wartak, Vice President

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Sabrina Long
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2 Breakout 1: Governance At Work Jakub Wartak, Vice President

3 Agenda Governance at Work Program Management Governance at Work Ongoing Governance Q&A / Discussion 3

4 Introductions and meeting goal Context: Many of our clients into the second evolution of a global benefits relationship These clients have a good understanding of the benefits they provide and associated costs Many have optimized the design and financing of these programs They are looking for a more proactive and intuitive approach to ongoing management and monitoring of programs Assumptions: Attendees are broadly familiar with Greater Insight and/or other comparable tools Participants have a well established global benefits relationship Goals: Demonstrate more effective ways to deliver management information to clients and other stakeholders Show how Aon is using Greater Insight to manage programs more actively Show how ongoing governance and program monitoring can be supported by Greater Insight Data Inventory Company structure Design data Renewal calendar Cost information Research & Insight Benefit snapshots Regulatory updates Country Profile Research Static benchmarking Program management Custom MI Offline dashboards Global tracking tools Ongoing governance Governance dashboards Custom requests Attestation process 4

5 1 Governance at Work Program Management 5

6 Custom management information Clients increasingly leveraging GI data to support non-standard business requests Examples would be: Corporate divestitures or other transactional activity A focus on key areas of plan design (e.g., minimums, maximums, utilization) A focus on claims or specific plan costs Inputs to a benefits budgeting process Custom reports are then built to extract the information for the relevant plans Modelling layers can be added to align the data to wider reporting needs Business focus Greater Insight Input Modeling Layer Customized report output 6

7 Offline dashboards Clients can now maintain an Offline Dashboard using GI source data and refresh without leaving Excel The benefits of this offline approach are: Aligned with how clients want to see management information Doesn t require clients to go in and out of Greater Insight to access data Secure access to key data The dashboard aspect increasingly popular with clients and bringing: Fully customizable layout and information display Alignment with other internal reports and management requests Summary information that gives stakeholders what they need without the detail 7

8 Efficient program tracking Aon has implemented a global process for monitoring program activity at each local country level The process is mandatory and consistent for all plans within the scope of global mandates The process is facilitated within Greater Insight to bring the following benefits: Real time reporting for global consulting team Consistent commentary and status around the world Ease of information flow from local consulting teams Clients are able to see the tracking report as required Encourages timely upload of other key program information design, premiums, etc. 8

9 2 Governance at Work Ongoing Governance 9

10 Governance dashboards As clients governance model evolves there is a desire for dashboards highlighting key aspects of plan features Governance dashboards are typically based on RAG (Red-Amber-Green) format for ease of understanding Governance dashboards are customized to client needs and priorities Governance dashboards are set up as a custom report within Greater Insight Typically the Aon consultants provide the input based on defined criteria / questions Formulas within Greater Insight then generates the dashboard output 10

11 Managing business data requests Clients routinely being asked for benefits information for wider business initiatives on an urgent timeframe Examples could be: FATCA requirements Salary definitions for pension plans as salary structure is reviewed Exclusions within medical benefit plans (e.g. AIDS) due to a specific lack of coverage being found Paid time off benefits as part of a terms and conditions review Aon supporting clients to run these requests through Greater Insight Advantages are: Drives client traffic towards Greater Insight Efficient process for collecting data and monitoring progress Easy to generate a report with consolidated input and manipulate as needed Information remains in Greater Insight and can be used for other similar requests 11

12 Annual monitoring and attestation Governance is recognised as an ongoing process that needs to sit within a structured monitoring process Many of our clients have now created the baseline (objectives, plans, inventory, action plans) The next step is to monitor regularly within a formal review cycle Clients now using Greater Insight to run desktop monitoring and attestation The features include: Sign-off that the plan design data is still accurate Confirmation that benefits remain compliant Report back on key country activities since the last review The key stakeholder attesting that the information provided in GI is accurate and was provided by them Set governance objectives Determine inscope plans Complete inventory Generate action plans Monitor progress 12

13 3 Q&A / Discussion 13

15 About Aon Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: Copyright Aon Consulting Limited 2016 No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any way or by any means, including photocopying or recording, without the written permission of the copyright holder, application for which should be addressed to the copyright holder. Aon Consulting Limited is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales. Registered No: Registered Office: Briarcliff House, Kingsmead, Farnborough, Hampshire GU147TE

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